This large three bedroom single family home is located in the very nice neighbourhood of Winchester . The property is only six minutes and only 1.7 miles from Gwynns Falls Park. The property has just being completely refurbished and the management company have tenants moving in shortly paying $1,100 per month. The property is managed by a great local management company.
Winchester is a neighbourhood in the western part of Baltimore, In Winchester 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: 59,900
Gross annual rental income: $13,200
Property running costs: $2,528
(Tax, insurance and management costs)
Net annual rental income: $10,672
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%