This large 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 the leafy suburb of LaGrange, just 3.7 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: $35,400
Gross annual rental income: $8,220
Property running costs: $1,922
(Tax, insurance and management costs)
Net annual rental income: $6,298
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%