This fantastic three bedroom home is located in Euclid Green right next to South Collinwood and only a short distance from the Lakefront. It is also just 11 minutes from the famous Euclid Avenue where you will find many shops, restaurants, hotel chains, the town hall etc this is one of our most demanded areas by investors. The property was recently updated inside and there are now tenants in place paying $825 in rent each month keeping the property in good condition. The property is under management by a great local management company.
Property Details
• Three bedrooms.
• Full Basement.
• 1,210 sqft built.
• 0.31 acres lot.
• Tenanted.
• Fully managed.
• Local staff.
• Garden.
Investment Calculation
Purchase price: 45,900
Gross annual rental income: $9,900
Property running costs: $2,442
(Tax, insurance and management costs)
Net annual rental income: $7,458
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years