This huge three bedroom house has been updated throughout and comes with a huge landscaped side garden.The property is located in LaGrange 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 the leafy suburb of LaGrange, just 2.1 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: $38,500
Gross annual rental income: $9,000
Property running costs: $2,200
(Tax, insurance and management costs)
Net annual rental income: $6,800
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%