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41700292 - Buy a House in USA, Ohio, Cuyahoga County, City of Cleveland

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Four bedroom house

Property Information

Type: House Property ID: 41700292
Location: City of Cleveland, USA Added on: 15 Jan 2024
Price: £76,345

Short Description

This four bedroom multi unit is amazing value at $89,900..

Key Information

  • Property ID: 41700292
  • Location: City of Cleveland
  • Property Type: House
  • Prices: £ 76,345 / € 87,214 / $ 89,900

Full Description

This fantastic two apartment multi family home is located on a very nice street in the sought
after area of South-Collinwood, it is just five minutes from the Lakeshore and less than a mile to
Collingwood High School, one of the best 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 house has a brand new roof, new
furnaces & new hot water tanks. The property also has tenants in place in both apartments
paying $700 in rent each month. The market rent is closer to $850 in rent each month.
South-Collinwood is seen as a very strong investment area in Cleveland, this area is surrounded
by some great neighbourhoods like University Heights, Glenville, Richmond Heights and Euclid,
The property right next to Mark Tromba Park which has just undergone an extensive $1.2M
renovation. Site improvements included a new splash pad, new play structures and equipment,
a new public art piece, a new reconfigured parking lot, two resurfaced basketball courts, and a
resurfaced tennis court.

Investment Calculations
Purchase price
$89,900
Gross annual rental income:
$16,800
Property running costs:(Tax, insurance and management costs)
$3,578
Net annual rental income:
$13,222
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

15%

Break even in

6.6 Years.

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Property Alerts

  • House
  • 4 bedrooms
  • USA
  • City of Cleveland
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