This very large four bedroom house has been refurbished throughout including new carpets and paint and new hardwood floors. The property has four large bedrooms and two large bathrooms, it also comes on a huge 6,050 sqft lot. The management company are in process of placing a new tenant who will be paying $800 a month, the tenant will be placed in the property before completion.This property is ideally located in Panama Park a great family area in north Jacksonville, this area is close to Pearl Court, Royal Terrace and Brentwood and is only 4.8 miles from Downtown Jacksonville.
$9,600 rent a year.
Purchase price: $49,000
Gross annual rental income: $9,600
Property running costs: $2,060 (Tax, insurance and management costs)
Net annual rental income: $7,541
Investment calculation - Net Income divided by Purchase price = NET ROI.