Property for sale in City of Cleveland - 41698848 - Advertised on propertyO by Global Investments Incorporated

House for sale

£93,330

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41698848


Property description

This fantastic lovely two bedroom single family home is located in the Waterloo Art District in
North Collinwood, right next to the Lakefront and close to the new Amazon facility. The Waterloo
Arts District is known as a bustling area with art studios, entertainment, restaurants, bars and
retail, it is the place to go out on the Eastside of Cleveland.
There are four large bedrooms, one bathroom, a full basement, detached garage and a large
garden. The property has just received a $15,000 update to be made rental ready by Remax which
are arguably the best management campany in Cleveland. The management company will place
brand new tenants when the new owner closes on the property. The house should achieve $1,400
– $1,600 in rent each month. The tenants could be Section 8 housing.
The Waterloo Arts District is a funky, indie community, with lots of cool little galleries and studios.
You can hear live music at one of the best venues in the country or browse an awesome indie
music store. The coffee shops roasts all their own beans, and there are plenty of great places to
eat within a five-minute drive.Just ten minutes to downtown Cleveland, the Lakefront is also just
five minutes away.

Investment Calculations
Purchase price
$109,900
Gross annual rental income:
$19,200
Property running costs:(Tax, insurance and management costs)
$3,556
Net annual rental income:
$15,644
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

15%

Break even in

6.6 Years.

Contact Global Investments Incorporated about this property

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