This three bedroom house is located in DeVeaux on the Westside of Toledo, this area is considered one of the best areas in Toledo, the average list price for DeVeaux is $81,261. This property has just been refurbished throughout including new carpets and paint and an updated kitchen and bathroom. 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.
DeVeaux is seen as one of the best areas in Toledo, it is very close to the University of Toledo and also close to Franklin Park Mall. It is just four miles from the centre of Downtown Toledo.
• Three bedrooms.
• Section 8.
• 1,046 sqft built.
• 5,800 Acres lot.
• Fully managed.
• Local staff.
Purchase price: $39,000
Gross annual rental income: $9,180
Property running costs: $2,568 (Tax, insurance and management costs)
Net annual rental income: $6,612
Investment calculation - Net Income divided by Purchase price = NET ROI.