This large multi-family home is located on a nice street in Central Park Heights close to Downtown Baltimore.The property is made up of two huge apartments, you have a large three apartment on one side and a large five bedroom apartment on the other side, the meters are separated. The property is currently undergoing a refurbishment and the management company already have tenants ready to be placed. This property comes with a $2,400 rent guarantee, you will be paid $2,400 in rent on the day of closing while the works are been finished off and the tenants are being placed. This is one of the best rental properties available in Baltimore today and is under management by a great local management company.
Central Park Heights is a very central location and is highly sought after by investors, due to its close proximity to Downtown Baltimore rental demand is very high. It is also right next to US-40 Motorway which is one of the main Motorways between Baltimore and Washington DC.
Purchase price: 89,900
Gross annual rental income: $28,800
Property running costs: $4,470
(Tax, insurance and management costs)
Net annual rental income: $24,330
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 27%