Property for sale in City of Cleveland - 41709449 - Advertised on propertyO by Global Investments Incorporated

House for sale

£106,068

Ohio, Cuyahoga County, City of Cleveland, USA Property ID: 41709449


Property description

This fantastic three bedroom single family home is located in a very nice street in Fairfax, 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 less than two miles away.
There are three large bedrooms, two bathrooms, a full basement and a large garden with a nice double garage.
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. Due to the excellent location of this property and the houses being
rented in the same street the new owner would have various rental options such as Section 8, Eden, Air B & B as
well as renting to Cleveland Clinic professionals. The house should achieve $1,500 – $1,800 in rent each month.
Fairfax is viewed as a very well located suburb in Cleveland Ohio, it is just 3 miles from Downtown and 2 miles
from University Circle. The University Circle has the highest concentration of cultural attractions and performing
arts venues in the whole of the US. There are many new build homes being built in this street, increasing the value
or surrounding properties with a good potential for capital appreciation. New builds are selling for over $300,000.

 

Investment Calculations
Purchase price
$124,900
Gross annual rental income:
$21,600
Property running costs:(Tax, insurance and management costs)
$4,060
Net annual rental income:
$17,540
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

14%

Break even in

7.14 Years.

Contact Global Investments Incorporated about this property

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