This large two apartment multi family home is located on a nice street in Clark Fulton on the Westside of Cleveland, the house is less than 2 miles from the Metro Health centre main campus. The property is divided into two apartments, you have a two bedroom apartment downstairs and a two bedroom apartment upstairs. Both apartments have good tenants in place each paying $650 in rent and they are keeping the property in great condition. The property is under management by a great local company.
Property Details
• Four bedrooms.
• Two bathrooms.
• 1,584 sqft built.
• 3,500 sqft lot.
• Fully managed.
• Tenanted.
• Local staff.
• Garden.
Investment Details
Purchase price: 64,900
Gross annual rental income: $15,600
Property running costs: $3,074
(Tax, insurance and management costs)
Net annual rental income: $12,526
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%
Break even in 5 Years