This large single family home is located in Euclid Green right next to South Collinwood, just a short distance from the Lakefront. It is also only 1.6 miles and just three minutes from the famous Euclid Avenue where you will find many shops, restaurants, hotel chains & the town hall. This is one of our most demanded areas by investors. The property has just been updated and made rental ready and now has tenants in place paying $900 in rent each month.. This property is under management by a great local property management company.
Investment Calculation
Purchase price: 59,900
Gross annual rental income: $10,800
Property running costs: $3,400
(Tax, insurance and management costs)
Net annual rental income: $7,400
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 14%
Break even in 7.14 Years
