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41640476 - Buy a Townhouse in USA, Ohio, Cuyahoga County, City of Cleveland

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Five bedroom house

Property Information

Type: Townhouse Property ID: 41640476
Location: City of Cleveland, USA Added on: 20 Jun 2022
Price: £66,207

Short Description

This large five bedroom multi unit is a rare find at $89,900..

Key Information

  • Property ID: 41640476
  • Location: City of Cleveland
  • Property Type: Townhouse
  • Prices: £ 66,207 / € 73,731 / $ 89,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This fantastic large two apartment multi-family home is located in the sought after
area of Glenville, just five minutes from Glenville High School which is 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 three bedroom apartment upstairs, The property
has recently been updated and is rental ready. The management company will
place a brand new tenant in each apartment when the new owner closes on the
property. The two bedroom apartment should achieve $750 in rent each month
and the three bedroom apartment should achieve $850 in rent each month.

Glenville is seen as a very strong investment area in Cleveland, it is close to the
Waterloo District, Euclid, Bratenahl and the I90 (highway). The property is also
very well positioned directly opposite the Cleveland Lakefront Nature Preserve and
just five minutes and 1.5 miles to Gleville High School one of the best schools in
the area.

Investment Calculation

Purchase price: 89,900

Gross annual rental income: $19,200

Property running costs: $3,071
(Tax, insurance and management costs)

Net annual rental income: $16,129

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 18%

Break even in 5.5 Years

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Property Alerts

  • Townhouse
  • 5 bedrooms
  • USA
  • City of Cleveland
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