Five Bedroom House (ref. 41707922) - Houses for Sale, Real Estate - Number of Bedrooms: 5, Number of Bathrooms: 2 - Cuyahoga, Ohio, United States

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Five Bedroom House (ref. 41707922)
Date & Time Listed: 2024-11-28 10:08:22 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This large multi-family home is located on a very nice street in South- Collinwood, the house is situated in Nottingham
which is the most sought after exclusive part of South Collinwood. Properties in this area rarely come onto the rental
market for investors and this house will sell within hours not days.
The property is divided into two large apartments, you have a large three bedroom apartment downstairs and a large two
bedroom apartment upstairs. Both apartments will be renovated by Global Investments best contractors and will be
supplied rent ready to a Section 8 standard. The property comes with a brand new roof, all new windows and a complete
internal make over which consists of new kitchens and bathrooms. The works will begin after the new owner closes on the
property. When complete the management company will place brand new vetted tenants. The 2 bed should achieve
$1,000 – $1,300 each month and the 3 bed $1,250 – $1,700 each month based on the current market rates with Section 8
housing.
Nottingham in South Collinwood is seen as a very strong investment area in Cleveland, The property is just 2 miles to The
Waterloo Arts District, A funky, indie community, with lots of cool little galleries and studios. You can hear live music at
one of the best venues in the country or browse an awesome indie music store. The coffee shops roasts all their own
beans, and there are plenty of great places to eat within a five-minute drive. just 15 minutes east of Downtown Cleveland.
Investment Calculations
Purchase price
$129,900
Gross annual rental income:
$29,400
Property running costs:(Tax, insurance and management costs)
$4,440
Net annual rental income:
$24,960
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
20%
Break even in
5 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 5
Number of Bathrooms: 2

Price: 129,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 2 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 5, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga