This large Three bedroom family home is located in the very nice neighbourhood of Penrose-Fayette Street Outreach. The property is only 3 miles from downtown Baltimore and just two minutes and less than a mile from Gwynns Falls Park. The property has just been completely refurbished from top to bottom and is in a fantastic condition. The management company are currently screening for tenants and will place a tenant for the new owner after closing.
Penrose-Fayette Street Outreach is a neighborhood in the western part of Baltimore, 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: 67,900
Gross annual rental income: $15,600
Property running costs: $3,060
(Tax, insurance and management costs)
Net annual rental income: $12,540
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%