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Property Sales - 41704650 - House in USA, Ohio, Cuyahoga County, City of Cleveland

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Five bedroom house

Property Information

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Property ID:
Location :
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House
41704650
City of Cleveland, USA
21 Jun 2024
£ 63,607 / € 72,662 / $ 74,900

Short Description

This five bedroom house is amazing value at $74,900..

Key Information

  • Property ID: 41704650
  • Location: City of Cleveland
  • Property Type: House
  • Prices: £ 63,607 / € 72,662 / $ 74,900

Full Description

This fantastic very large five bedroom single family home is located on a nice street just five
minutes to Forest Hills Park, a historic urban park that was a portion of John D. Rockefeller’s
estate. The 248-acre (1.00 km2) park has six baseball diamonds (four lit), six lit tennis courts
and three walking trails that have retained the natural green space.
The property has five spacious bedrooms, one bathroom, a large lounge diner and a full
basement. The property has tenants in place paying $1,200 in rent each month. The current
market rate with Section 8 housing can reach up to $1,600 per month. The house is under
management with a great local Cleveland property management company.
East Cleveland is seen as a very strong investment area in Cleveland, this area is surrounded
by some great neighbourhoods like University Heights, Glenville, South Collinwood Richmond
Heights and Euclid. The house is right next to Noble Road, the proposed location for future
investment from the City and the Noble Road Corridor planning project.

Investment Calculations
Purchase price
$74,900
Gross annual rental income:
$14,400
Property running costs:(Tax, insurance and management costs)
$2,565
Net annual rental income:
$11,835
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

16%

Break even in

6.25 Years.

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Property Alerts

  • House
  • 5 bedrooms
  • USA
  • City of Cleveland
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