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41690199 - Buy a House in USA, Ohio, Cuyahoga County, Cleveland

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Five bedroom house

Property Information

Type: House Property ID: 41690199
Location: Cleveland, USA Added on: 09 Feb 2023
Price: £67,853

Short Description

This five bedroom house is amazing value at $79,900..

Key Information

  • Property ID: 41690199
  • Location: Cleveland
  • Property Type: House
  • Prices: £ 67,853 / € 77,513 / $ 79,900

Full Description

This fantastic large five bedroom house is located in Fairfax, just one mile and five
minutes from the world famous Cleveland Clinic, it is also less than 2 miles from
The University Circle.
The property is in a great condition and consists of five large bedrooms, a large
kitchen and 1.5 bathrooms, there is also a new efficiency furnace, a new hot water
tank, updated electrical panel and a great tenant already in place. The current
market rent for a five bedroom single family home in this location can reach up to
$1,500, so should the tenant leave in the future the rent could be increased. The
house is under management with a great local Cleveland property management
company.

Fairfax is viewed as a very well located in Cleveland Ohio, it is just 3 miles from
Downtown and 2 miles from University Circle. The University Circle has the
highest concentration of cultural attractions and performing arts venues in the
whole of the US.

Investment Calculations
Purchase price
$79,900
Gross annual rental income:
$12,000
Property running costs:(Tax, insurance and management costs)
$2,680
Net annual rental income:
$9,320
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

12%

Break even in

8.3 Years.

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