This fantastic two bedroom house is in a great location in Lee Miles. The property is only a three minutes to John F Kennedy High School, which is one of the best high schools in Cleveland, it is also only 3 minutes from the the Lee Harvard Plaza. There are two spacious bedrooms, a full basement and a large garden. The property has great tenants in place treating it as their own and keeping it in great condition. The tenants have no intention of moving and are paying $625 a month in rent. This property is under management by a great local company.
Property Details
• Two bedrooms.
• Full basement.
• 736 sqft built.
• 6,399 sqft lot.
• Tenanted.
• Fully managed.
• Local staff.
• Garden.
Investment Calculation
Purchase price: 28,900
Gross annual rental income: $7,500
Property running costs: $2,250
(Tax, insurance and management costs)
Net annual rental income: $5,250
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years