| Overseas 70% Mortgage | Domestic 80% Mortgage | |
|---|---|---|
| Purchase Price | $124.900 | $124.900 |
| Cash Deposit | $37.470 | $24.980 |
| Appraisal Cost | $995 | $995 |
| Lending Cost (aprx.) | $6.733 | $6.733 |
| Capital Required | $45.198 | $32.708 |
| Monthly Income | $1.700 | $1.700 |
| Monthly Mortgage + Tax + Insurance | $655 | $655 |
| Management Fee | $170 | $170 |
| Net Monthly Income | $875 | $875 |
| Net Rate of Return (ROI) | %23 | %32 |
This large four bedroom single family home is located in the Waterloo Art District in North Collinwood, right next
to the Lakefront and close to the new Amazon facility. The Waterloo District is known as a bustling area with art
studios, entertainment, restaurants, bars and retail, it is the place to go out on the Eastside of Cleveland.
The property consists of four large bedrooms, two bathrooms a large lounge diner a full basement and a large
rear garden.The house has just been updated and brought up to a Section 8 rental ready standard. There are just
a few minor cosmetic left and the funds are included in the price and the works will begin after the new owner
closes on the property. When complete the management company will place a brand new tenant. The house
should achieve $1,250 – $1,700 in rent each month based on current Section 8 rates. The house also has just had
a brand new roof. The property has a potential 75% finance available, terms and conditions apply.
The Waterloo Arts District is a funky, indie community, with lots of cool little galleries and studios. You can hear
live music at one of the best venues in the country or browse an awesome indie music store. The coffee shops
roasts all their own beans, and there are plenty of great places to eat within a five-minute drive.Just ten minutes
to downtown Cleveland, the Lakefront is also just five minutes away.
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