Three Bedroom House (ref. 41705299) - Houses for Sale, Real Estate - Number of Bedrooms: 3, Number of Bathrooms: 1 - Cuyahoga, Ohio, United States

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Three Bedroom House (ref. 41705299)
Date & Time Listed: 2024-07-15 10:18:01 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This fantastic single family home is located in Lee Miles and is just 1.2 Miles to Lee Harvard
Shopping Mall. Lee Miles is very close to Garfield Heights and prices have really risen over the last
two years, this house is also just a few miles from John Adams College and Career Academy.
The property has three bedrooms, a large lounge diner, a full basement and a large rear garden.
The house will be renovated by Global Investments best contractors and will be supplied rent
ready to a Section 8 standard. When complete the management company will place brand new
vetted tenants. This house should achieve $1,200 – $1,500 in rent each month. Once the work is
finished the ARV for this house will be around $95,000 – $105,000 giving the new owner
immediate equity in the property.
Lee Miles is viewed as a very central location in Cleveland Ohio, it is just 8 miles from Downtown
and 5 miles from University Circle. Also just 1.2 Miles away you have Lee Harvard shopping centre.
The house is in a lovely street and the backyard is adjacent to Kerruish Park, this hidden gem is a
cherished destination for locals and visitors alike. One of the park’s notable features is its charming
lake, picnic areas, basketball courts, tennis courts, and soccer fields.
Investment Calculations
Purchase price
$89,900
Gross annual rental income:
$18,000
Property running costs:(Tax, insurance and management costs)
$2,630
Net annual rental income:
$15,370
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
17%
Break even in
5.8 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 89,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1
Posted From: United States, Ohio, Cuyahoga