This large two bedroom house has been refurbished to a Section 8 standard including new carpets and paint, updated kitchen and new light fixtures. There are two large bedrooms, a large kitchen/dinner, a large living-room, a full basement and a large rear garden. There is a new Section 8 tenant being placed in two weeks time, the rent is paid by the US government. This property is managed by one of the leading Toledo property management companies.
Property Details
• Two bedrooms.
• Section 8.
• 924 sqft built.
• 2,700 sqft lot.
• Tenanted.
• Fully managed.
• Local staff.
• Garden.
Investment Calculation
Purchase price: 32,000
Gross annual rental income: $7,800
Property running costs: $1,880
(Tax, insurance and management costs)
Net annual rental income: $5,920
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years