This fantastic large three bedroom house is located on a nice street in Union –
Miles Park which is a great neighbourhood in Cleveland, this area is close to
Mount Pleasant and Slavic Village. It is also just a few minutes from John Adams
College And Career Academy, which is one of the best schools in Cleveland.
There are three large bedrooms, one and a half bathrooms a full basement a
detached garage and a large rear garden. There are also long term tenants in
place paying $950 rent a month .This property is under management by a local
Cleveland property management company.
Union – Miles Park is viewed as a very central location in Cleveland Ohio, it is just
6.3 miles from Downtown and 4.9 miles from University Circle. University Circle
has the highest concentration of cultural attractions and performing arts venues in
the whole of the US. The house is also just a short walk to John Adams College
And Career Academy, which is one of the best schools in Cleveland.
Purchase price: 53,900
Gross annual rental income: $11,400
Property running costs: $2,408
(Tax, insurance and management costs)
Net annual rental income: $8,992
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years