Four Bedroom House (ref. 41708494) - 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. 41708494)
Date & Time Listed: 2025-01-16 10:07:15 (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 large multi-family home is located on a nice street in Corlett and is just a short walk
to John Adams College, one of the leading schools in Cleveland.
The property is divided into two large apartments. You have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. The property also
has tenants in place in both apartments paying $650 in rent each month. The market
rent with Section 8 is $950 – $1,250 in rent each month. Included in the price is a Sellers
Rental Contribution of $7,200 which equates to $300 for 12 months ( each apartment )
which gives the new owner the current market rent for the first year, This will be
credited to the buyer on closing.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7 miles from
Downtown and 5 miles from University Circle. Also just 2 miles away you have Lee
Harvard shopping centre. The house is situated bordering Garfield Heights and very
close to Garfield Park Reservation which is one of the nicest suburbs of Cleveland.
Investment Calculations
Purchase price
$86,900
Gross annual rental income:
$22,800
Property running costs:(Tax, insurance and management costs)
$4,480
Net annual rental income:
$18,320
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: 86,900.00 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