This really nice large single large family home is located in Mount Pleasant and is
only seven minutes from the famous Shaker Square. Shaker Square is one of the
biggest attractions in Cleveland and is full of restaurants, bars, boutiques and even
has a cinema.
The property has five bedrooms, one bathroom, a large lounge diner, spacious
kitchen and a full basement. The house is in a very nice street and has a nice rear
garden. The house has a long term tenant in place paying $1,200 in rent each month.
The house is under management with a great local Cleveland property management
Mount Pleasant is seen as a very strong investment area in Cleveland, just 2.5 miles
away you have the famous Shaker Square which is one of the biggest attractions in
Cleveland. Shaker Square is full of restaurants, bars, boutiques and even has a
cinema. This property is also only 6.6 miles from Downtown and 4 miles from the
Purchase price: 69,900
Gross annual rental income: $14,400
Property running costs: $2,605
(Tax, insurance and management costs)
Net annual rental income: $11,795
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years