This fantastic three bedroom house is located in Shipley Hill which is just 2.4 miles from Downtown Baltimore and is also just 2.6 miles from Mondawmin Mall. This property has been recently updated with hardwood floors, updated kitchen with tiled backsplash, new countertops, gas range and dishwasher. You also have an updated bathroom, skylight and new paint and carpets. The management company have tenants moving in shortly paying $1,100 per month.The property is managed by a great local management company.
The property is located in Shipley Hill which is just 2.4 miles West of downtown Baltimore. With the expansion of Mondawmin Mall which is just 2.4 miles away, the whole area is changing and going through a revitalisation. This is a great time to get in while the average home cost is low, Capital growth in this area is predicted to be very good.
Purchase price: 52,900
Gross annual rental income: $13,200
Property running costs: $2,203
(Tax, insurance and management costs)
Net annual rental income: $10,997
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%