This fantastic two apartment multi family home is located in Kinsman, a desirable suburb which is just 5 miles from Downtown Cleveland. The house is just 1.5 miles to John Adam College & Career Academy. & directly opposite the Breakthrough Public School / Woodland Hills. A nationally recognised network of schools was formed in 2010 by the highest-performing, college preparatory, nonprofit public charter 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 will be renovated by Global Investments best contractors and will be supplied rent ready to a Section 8 standard, The works will begin when the new owner closes on the property. The management company will then place brand new vetted tenants. Each apartment should achieve $950 – $1,250 in rent each month with Section 8 housing. Kinsman is viewed as a very central location in Cleveland Ohio, it is just 5 miles miles from Downtown and 4 miles from University Circle. The property is in a very desirable area for buyers and renters alike. The house is less than 2 miles to Luke easter Park, a large recreational area consisting of a roller skating rink, gym, basketball courts, track, Woodland Hills swimming pool, a playground, outdoor basketball courts, an outdoor running track and shelter houses for picnicking. Investment Calculations Purchase price $99,900 Gross annual rental income: $30,000 Property running costs:(Tax, insurance and management costs) $4,900 Net annual rental income: $25,100 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 25% Break even in 4 Years. This property is a House for sale.
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