This large three bedroom single family home is located in the very nice neighbourhood of Rosemont . The property is only Five minutes and only 1.7 miles from Gwynns Falls Park. The property is just being updated and included in the price is $5,000 to bring the property up to a great rental ready standard. The management company will be placing brand new tenants paying $1,150 – $1,200 per month when the new owner closes on the property.
Rosemont is a neighborhood in the western part of Baltimore, In Rosemont there are a lot of parks and most of the residents tend to be retired. The property is next to Gwynns Falls Park the second largest woodland park in the United States consisting of over 1000 acres, this is by far Baltimore’s most extensive park, stretching from the western city line along the valley of the Gwynns Falls.
Purchase price: 64,900
Gross annual rental income: $14,400
Property running costs: $2,530
(Tax, insurance and management costs)
Net annual rental income: $11,870
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%