Four Bedroom House (ref. 41708281) - Houses for Sale, Real Estate - Number of Bedrooms: 4, Number of Bathrooms: 2 - Cuyahoga, Ohio, United States

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Four Bedroom House (ref. 41708281)
Date & Time Listed: 2024-12-23 10:08:06 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This fantastic two apartment multi family home is located on a nice street in St.Clair-Superior which is
just 3 miles to Downtown Cleveland.
The property is divided into two large apartments. You have a large 2 bedroom unit downstairs and a
large two bedroom unit upstairs. The downstairs apartment has a tenant in place paying $400 in rent
each month. The market rent with Section 8 currently is $950 – $1,350 each month. Included in the
price is a Sellers Rental Contribution of $6,600 which equates to $550 for 12 months which gives the
new owner the current market rent for the first year, This will be credited to the buyer on closing. The
upper apartment 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. The apartment should achieve $950 – $1,350 in rent each month.
St.Clair-Superior is an extremely well located suburb which is just 3 miles East of the centre of
downtown. The property is very close to Burke Lakefront Airport just to the North. Due to the
proximity of the City and every amenity possible this area is demanded for rentals. The house is just 1
mile to the fantastic Goldhorn Brewery, the latest trendy extremely popular tap house. The house is
also just 2.6 milkes to the centre of University Circle.
Investment Calculations
Purchase price
$99,900
Gross annual rental income:
$24,600
Property running costs:(Tax, insurance and management costs)
$4,390
Net annual rental income:
$20,210
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
21%
Break even in
4.76 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 99,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga