Property for sale in City of Cleveland - 41700674 - Advertised on propertyO by Global Investments Incorporated

House for sale

£101,822

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41700674


Property description

This fantastic large brick built three bedroom single family home is located on a nice street in Maple
Heights which is a great neighbourhood in Cleveland, this area is close to Lee Miles, Garfield Heights
and is just 2 miles to Maple Heights high school.
The property has 3 bedrooms, one and a half bathrooms, a full basement and a large rear garden
with a detached garage. The roof on the house was only replaced 7 years ago and the gaarge roof 3
years ago. The furnace was also onloy just replaced. The house has tenants in place paying $1,203 in
rent each month. The tenants are Section 8/EDEN so the rent is paid direct to the landlord via the
City of Cleveland. The current market rent is closer to $1,350 – $1,450 each month. The house is
under management with a great local Cleveland property management company.
The property is just 2 miles to Maple Heights high school. The high school is very well known and
respected in the area. A new 5,000 capacity stadium with artificial turf and an all-weather track
opened in 2014, home of the Maple Heights Mustangs. The house is also just 1.5 miles to the very
first Amazon Fulfillment Centre in the Greater Cleveland region containing 2.7 million square feet.

Investment Calculations
Purchase price
$119,900
Gross annual rental income:
$14,436
Property running costs:(Tax, insurance and management costs)
$4,295
Net annual rental income:
$10,141
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

9%

Break even in

11,1 Years.

Contact Global Investments Incorporated about this property

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