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This large four bedroom, two bathroom house is located in a 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.
There are four large bedrooms, two bathrooms, a full basement and a large
garden. This property has long term tenants in place, keeping it in great condition
paying $1,200 in rent each month. This property is under management by a great
local company.
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 2.6 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.
Investment Calculation
Purchase price: 51,900
Gross annual rental income: $14,400
Property running costs: $2,739
(Tax, insurance and management costs)
Net annual rental income: $11,661
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 23%
Break even in 4.34 Years
This property is a Townhouse for sale.

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