Baltimore – $48,900

Net Return – 19%

Description

This fantastic three bedroom family home is located in Broadway East, a neighbourhood just 2.7 miles from downtown Baltimore. The property is also only a five minute walk to Harford Heights Elementary school and the local Library. The property is very spacious with three large bedrooms, one bathroom and a full basement. Also included in the price is $6,000 in cosmetic repairs in order to bring the property up to a great rent ready condition. The property is managed by a great local property management company.

Broadway East is a neighbourhood in the East district of Baltimore, just 2.7 miles from Downtown. This area is keen for investors. The Broadway East community is undergoing a resurgence which includes the renovation of the American Brewery building and the Baltimore Food Hub, which is currently under construction. Broadway East has also become the filming location for The Wire (TV series), a Baltimore-based HBO drama.

Property Details

• Three bedrooms.

• One Bathroom.

• Full Basement.

• 1,620 sqft built.

• Tenanted.

• Local staff.

• Fully managed.

• Great location.

Investment Calculation

Purchase price: 48,900

Gross annual rental income: $11,400

Property running costs: $2,140
(Tax, insurance and management costs)

Net annual rental income: $9,260

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

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: 48,900

Net Return: 19%

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