Four Bedroom House (ref. 41705580) - Houses for Sale, Real Estate - Number of Bedrooms: 4, Number of Bathrooms: 2 - Cuyahoga, Ohio, United States

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Four Bedroom House (ref. 41705580)
Date & Time Listed: 2024-07-25 10:22:40 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga

Ad Details:

This large multi-family home is located on a nice street in Corlett and is less than one mile
and just a short walk to John Adams College, one of the leading schools in Cleveland.
The property is divided into two large apartments. You have a large two bedroom apartment
downstairs and a large two bedroom apartment upstairs. The property has a tenant in place
in one apartment paying $550 in rent each month. The market rent is closer to $1,000 –
$1,250 in rent each month with Section 8 housing. The second apartment will be supplied by
the seller refurbished and rent ready to a Section 8 standard. The funds are included in the
price and the works will begin as soon as the new owner closes on the property. When
complete the management company will place a brand new vetted tenant, the apartment
should achieve $1,000 – $1,250 in rent each month with Section 8 housing.
Corlett is viewed as a very central location in Cleveland Ohio, it is just 7 miles from
Downtown and 5 miles from University Circle. Also just 2 miles away you have Lee Harvard
shopping centre. The property is also just 2 minutes to John Adams College, one of the best
schools in Cleveland.
Investment Calculations
Purchase price
$91,900
Gross annual rental income:
$21,600
Property running costs:(Tax, insurance and management costs)
$3,824
Net annual rental income:
$17,776
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
20%
Break even in
5 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 91,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2 Posted From: United States, Ohio, Cuyahoga

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Ohio, Cuyahoga