This very nice three bedroom home is located in the up and coming area of Rosemount less than ten minutes from Coppin State University. This property has three very large bedrooms, two bathrooms, a full basement and can be delivered Section 8 on request. This property also comes with a $15,000 refurbishment included in the price, you will receive one months rent on closing while the work is being done and the new tenants are being placed. The property is under management by a great local company.
Rosemount is a very central location and is sought after by investors due to its close proximity to Downtown Baltimore. This area is surrounded by some great Schools and Universities and is great for long term renting. It is also right next to Gwynns Falls Park, one of the largest parks in Baltimore.
Purchase price: 62,900
Gross annual rental income: $13,200
Property running costs: $2,174
(Tax, insurance and management costs)
Net annual rental income: $11,026
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%