Three Bedroom House (ref. 41706514) - 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. 41706514)
Date & Time Listed: 2024-09-19 10:12:55 (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 within walking distance of the
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 short walk also to J F Kennedy High School.
The property has three large bedrooms, a large lounge diner, a full basement and a large rear
garden. The property has Section 8 tenants in place paying $1,200 in rent each month. The rent
is paid direct to the landlord via the City of Cleveland. The house is under management with a
great local Cleveland property management company. The seller has requested the tenants not
to be disturbed, internal pictures will be supplied with the inspection. All contracts are subject
to a full independent inspection. The ARV for this property is $100,000 0 $120,000 which would
give the new owner instant 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 less than a mile away you have Lee Harvard
shopping centre. The property is also just a short walk also to J F Kennedy High School, one of
the best schools in Cleveland.
Investment Calculations
Purchase price
$77,900
Gross annual rental income:
$14,400
Property running costs:(Tax, insurance and management costs)
$3,278
Net annual rental income:
$11,122
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
15%
Break even in
6.6 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 77,900.00 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