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This large three bedroom house is located on a nice street in the sought after area of Glenville, just five minutes from Glenville High School. The property has just being recently refurbished throughout by one of the largest building companies in Cleveland, this property has three large bedrooms, 1.5 bathrooms and a full basement. The property is Section 8 approved and a new tenant has just signed a lease, the tenant will be moving into the property in six weeks time. On closing you will receive the pro-rated rent plus an additional one months rent while the tenant is being placed in the property, the rent is paid by the US Government. This property is managed by a great local Cleveland management company.
Glenville is seen as a very strong investment area in Cleveland, it is close to the Waterloo District, Euclid, Bratenahl and the I90 (highway) Lakeshore is appealing for bus lines, bike trails, and allows access to the beach parks in the neighborhoods on the Northside. It is also just 5.1 miles from Downtown and 3 miles from the University Circle.
Investment Details
Purchase price: $45,900
Gross annual rental income: $9,900
Property running costs: $2,307
(Tax, insurance and management costs)
Net annual rental income: $7,593
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
This property is a Townhouse for sale.

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