This lovely single family home is located on a nice street in Forest Hills close to the shores of Lake Erie and is just five minutes from Glenville High School, one of the best schools in Cleveland. There are three bedrooms, a full basement and a large garden. The property will be renovated by Global Investments best contractors and will be supplied rent ready to a Section 8 standard. When complete the management company will place brand new vetted tenants. The house should achieve $1,250 – $1,450 in rent each month. Forest Hills is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines and bike trails. The house is just 2 miles 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. Investment Calculations Purchase price $79,900 Gross annual rental income: $17,400 Property running costs:(Tax, insurance and management costs) $2,955 Net annual rental income: $14,445 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 18% Break even in 5.5 Years. This property is a House for sale.
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