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How To Buy
We're pleased to offer this detached three bedroom property in our latest area, Akron.
Updates have been done to the property and this Akron property should be a serious consideration for any investor. Not only is the price excellent but tenants are already in place and full management will be offered, ensuring that this will be a good earning property.
Sold in 2005 for $72, 000, the home has been greatly reduced to just $31,500 and has every likelihood of capital appreciation over the next few years. And because it is tenanted, you can start earning income from day one. Have a look at the income and expenses sheet on the red link further down in this description for a breakdown. This property in Akron ticks every box for investment.
Akron property details:
Refurbished in August and September 2012, this property is in very good rental condition and is tenanted on a lease to buy contract at $550 per month. The accommodation totals 96 sq.m and comprises of the following:
- 3 bedrooms
- Living room
- Dining room
The property sits on a plot of 500 sq.m and benefits from having off-road parking.
As mentioned previously, this property in Akron is tenanted on a lease to buy option at $550 per month. The tenant has a 12 month lease contract with provision they can purchase the property for $39, 000. They have put down a $1000 deposit and $100 of their rent is deducted each month and goes towards the sales price. After the lease has expired, they can renew the lease by paying another $1000 which again goes towards the principle of the property. If a tenant does not proceed with purchasing the property/does not renew the lease contract, they lose whatever funds have been put towards the sale price of the property and the landlord keeps these funds. The tenants are also responsible for all repairs and utilities on the property.
A genuine opportunity
No catch, just freehold detached property, with clean unencumbered title going for peanuts and with a fantastic return. However, don’t think such property can be picked up anywhere, by just clicking away on the internet, for example. We have done a lot of work on the ground in USA searching for this bargain. Avoiding cheap properties that come with attached liens and debts, or in bad neighborhoods.
A chance, right now, to buy American property for a FRACTION of true cost!
Location and Local Attractions
With a population of 200, 000, Akron is the fifth largest city in Ohio and is considered the 'rubber city of the world' due to its contributions to the polymer industry. Goodyear tyre manufacturers have their base and research centre in the city and there is a dedicated college, the College of Polymer Science also located in Akron.
Why invest in property for sale in Akron?
Economically Ohio is a diverse state that is strong in a number of key industries including: banking/insurance (accounts for 8% of gross state product), agriculture, car manufacturing, steel production and research and development. Certain cities are specialist in particular areas, for example Cleveland is renowned for regenerative medical research (it has some of the best medical centres in the nation) and bio science. Akron is considered as the rubber capital of the world and Toledo is recognised as a national solar centre.
Unemployment in the state is 7.7% and the state is well known for its excellent education standards and has some of the best medical colleges in the nation. Ohio was the only state to make two areas of the Intelligent Community forum’s list- it has 5 of the top 115 colleges and ranked 5th for the best State run schools.
The University of Toledo contributes an impressive $1.1 billion to the north western Ohio economy.
According to the 09 World Bank projections, the economy of Ohio would be the 20th largest global economy behind Switzerland and ahead of Belgium. In analysis done by the International Monetary Fund Ohio state would be 21st largest behind Belgium and ahead of Poland.
Selling prices of real estates in Bulgaria are in Euro. For your convenience, on our website you can check what the equivalent of the selling price is for the present day in both currencies – USD and GBP. This equivalent is calculated automatically and is bounded with the currency exchange rate for the specific day, therefore it may vary.