This huge three bedroom house has been refurbished to a Section 8 standard including new carpets and paint, updated kitchen and new light fixtures. There are three large bedrooms, two bathrooms, a full basement, a dining room and a large rear garden. There is a new Section 8 tenant being placed in two weeks 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 East Toledo which is a great family area close to the Maumee river. The location of this property is perfect for long term renting, it only 2.8 miles from Downtown Toledo and close to Navarre Park.
Purchase price: $36,500
Gross annual rental income: $8,928
Property running costs: $2,142
(Tax, insurance and management costs)
Net annual rental income: $6,786
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%