Property for sale in City of Cleveland - 41709375 - Advertised on propertyO by Global Investments Incorporated

House for sale

£76,345

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41709375


Property description

This fantastic three bedroom single family home is located in a very nice street in Hough, close to the
shores of Lake Erie. Hough is a very demanded area in Cleveland due to its close proximity to the
University Circle, the entrance is just 1.3 miles away.
There are three large bedrooms, one bathroom, 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. The works will begin after the new owner closes on the property. When complete the
management company will place brand new vetted tenants. The house should achieve $1,250 –
$1,800 in rent each month based on section 8 housing rates.
Hough is seen as a very strong investment area in Cleveland, it is close to the Waterloo District,
Euclid, Bratenahl and the I90 (highway It is also just 1.3 miles from the University Circle. The
University Circle has the highest concentration of cultural attractions and performing arts venues in
the whole of the US, such as the Cleveland Museum of Art; Severance Hall, Cleveland Institute of Art,
plus many more. The house is situated in a very nice street right next to Daniel E Morgan School.

Investment Calculations
Purchase price
$89,900
Gross annual rental income:
$21,600
Property running costs:(Tax, insurance and management costs)
$3,519
Net annual rental income:
$18,081
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

20%

Break even in

5 Years

Contact Global Investments Incorporated about this property

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