This huge three bedroom house is located in West Toledo, which is considered one of the best areas in Toledo, the average list price for West Toledo is $61,656. The property has just been refurbished and is Section 8 approved, it has a new Section 8 tenant being placed within the next 10 days, the rent is paid directly by the US Government. The property also comes with a very large rear garden, a full basement and new carpets and paint.This property is managed by one of the leading Toledo property management companies.
West Toledo is seen as one of the best areas in Toledo, it is very close to the University of Toledo and also close to Five Points which is another great area, it is just five miles from the centre of Downtown Toledo.
Purchase price: $42,000
Gross annual rental income: $11,280
Property running costs: $2,378
(Tax, insurance and management costs)
Net annual rental income: $8,902
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 22%