This huge three bedroom house has been refurbished to a high standard. The property is located in Southside which is a good neighbourhood close to Downtown Toledo. 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 Southside right next to the waterfront, Southside is a great community with good local schools and great local facilities. Southside is only 2.7 miles from Downtown Toledo and is also very close to Scott Park University.
Purchase price: $39,000
Gross annual rental income: $9,000
Property running costs: $2,300
(Tax, insurance and management costs)
Net annual rental income: $6,700
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%