This large three bedroom family home is located in Lane-Wooster, Akron, just four minutes and 1.7 miles Downtown Akron and just 2.4 miles from The University of Akron. There are three large bedrooms, one bathroom, a full basement and sits on a huge 0.26 Acre plot. The property is in great condition and is under management by a great local company. The management company will be placing brand new tenants when the new owner closes on the property paying $800 rent per month.
Lane-Wooster is located in West Akron which is just 1.7 miles from downtown Akron. Lane-Wooster is one of the nicest areas in Akron to live, Neighborhood assets include Perkins Park and the Akron Zoo, the Miller-South School for the Visual and Performing Arts, Manning Lake, the Wooster Branch Library and the renovated Lane Field track and athletic complex. The property ideally located and is right opposite Miller South School.
• Three bedrooms.
• Full basement.
• 1,789 sqft built.
• 0.26 Acres.
• Fully managed.
• Local staff.
Purchase price: 38,900
Gross annual rental income: $9,600
Property running costs: $2,200 (Tax, insurance and management costs)
Net annual rental income: $7,380
Investment calculation - Net Income divided by Purchase price = NET ROI.