Toledo – $40,000

Net Return – 22%

Toledo – $40,000 Array, Array

$40,000

Description

This huge four bedroom house is located on a nice street in LaGrange, just a five minute drive from Downtown Toledo. The property has just been refurbished and is Section 8 approved, it has a new Section 8 tenant being placed within the next 10 days, the rent is paid directly by the US Government. The property also comes with a very large rear garden, a full basement and new carpets and paint.This property is managed by one of the leading Toledo property management companies.

This property is located in the leafy suburb of LaGrange, just 2.5 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.

Property Details

• Four bedrooms.

• Section 8.

• 1,289 sqft built.

• 3,600 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Tenanted.

Investment Calculation

Purchase price: $40,000

Gross annual rental income: $10,584

Property running costs: $2,058
(Tax, insurance and management costs)

Net annual rental income: $8,526

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 22%

Break even in 5.54 Years

Detail

Price: $40,000

Net Return: 22%

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