This fantastic three bedroom is located in the sought after area of Morrell Park which is close to Baltimore harbour, the house is also only a few minutes walk from Morrell Park Elementary. The property has just undergone a refurbishment, they are just adding the finishing touches, the management company can place either a private paying tenant or a Section 8 tenant. There are new carpets and paint, an updated kitchen with new appliances and a large basement, the property is under management by a great local company.
Morrell Park is a great neighbourhood located in the southwest section of Baltimore City. Close enough to Downtown and far enough away to escape city life when you want. There is something for people of all ages to enjoy. The property is 0.9 miles from the local school and is also close to the main harbour where you will find a lot of the best attractions in the City.
Purchase price: 59,900
Gross annual rental income: $14,400
Property running costs: $3,298
(Tax, insurance and management costs)
Net annual rental income: $11,102
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%