This three bedroom house is located in LaGrange and offers incredible value for money. This property has just been refurbished throughout including new carpets and paint and comes with three large bedrooms, a full basement and a large rear garden. The property is Section 8 approved and it has a new Section 8 tenant who is moving into the house in 10 days time, the rent is paid by the US Government. This property is managed by one of the leading Toledo property management companies.
This property is located in the leafy suburb of LaGrange, just 1.6 miles from Downtown Toledo. LaGrange is a quiet community with great local schools and has lots of local amenities. This property is also very close to the Chrysler Assembly Complex one of the largest car manufacturing sites in the US.
Purchase price: $29,900
Gross annual rental income: $7,008
Property running costs: $1,600
(Tax, insurance and management costs)
Net annual rental income: $5,408
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%