This huge five bedroom house is one of the best rental properties to come on the market this year in Toledo, the house has been updated to a high standard including a brand new kitchen. The property is located in Roosevelt which is viewed as one of the top areas for investment, it less than a five minute drive from Downtown Toledo. The property is Section 8 approved and it has a new Section 8 tenant who is moving into the house in 10 days 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 the leafy suburb of Roosevelt, just 2 miles from Downtown Toledo. Roosevelt is a quiet community with great local schools and has lots of local amenities. This property is also only a ten minute drive from the University of Toledo.
Purchase price: $48,000
Gross annual rental income: $11,328
Property running costs: $2,532
(Tax, insurance and management costs)
Net annual rental income: $8,796
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%