This large five bedroom, two apartment multi family home is located on a nice
street in Clark Fulton on the Westside of Cleveland, the house is just 1.4 miles
from the Metro Health centre main campus.
The property is split into two spacious apartments. One apartment consists of
three bedrooms and one bathroom and the other two bedrooms and one
bathroom. Both apartments have tenants in place each paying $500 in rent each
month. The rent is under market value so should either tenant leave the rent could
Clark Fulton is located on the Westside and viewed as a very central location in
Cleveland Ohio, it is just 4.7 miles from Downtown Cleveland and only 1.8 miles
from Detroit Shoreway which is one of the best areas in Cleveland. The property is
also only just 1.4 miles from the Metro Health centres main campus. A $946
million transformation plan of an 11-story 264-bed hospital on its main campus on
West 25th Street in Cleveland. A huge project that is transforming the area.
Purchase price: $69,900
Gross annual rental income: $12,000
Property running costs: $2,773
(Tax, insurance and management costs)
Net annual rental income: $9,227
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 14%
Break even in 7.14 Years