Toledo – $32,000

Net Return – 19%

Description

This large two bedroom house has been refurbished to a Section 8 standard including new carpets and paint, updated kitchen and new light fixtures. There are two large bedrooms, a large kitchen/dinner, a large living-room, a full basement and a large rear garden. There is a new Section 8 tenant being placed in two weeks time, the rent is paid by the US government. This property is managed by one of the leading Toledo property management companies.

This property is located in Southside right next to the waterfront, Southside is a great community with good local schools and great local facilities. Southside is only 2.7 miles from Downtown Toledo and is also very close to Scott Park University.

Property Details

• Two bedrooms. • Section 8. • 924 sqft built. • 2,700 sqft lot. • Tenanted. • Fully managed. • Local staff. • Garden.

Investment Calculation

Purchase price: 32,000

Gross annual rental income: $7,800

Property running costs: $1,880
(Tax, insurance and management costs)

Net annual rental income: $5,920

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

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: 32,000

Net Return: 19%

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