This huge five bedroom house is located on a nice street in LaGrange, just a five minute drive from Downtown Toledo. The property has just been refurbished and is Section 8 approved, it has a new Section 8 tenant being placed within the next 10 days, the rent is paid directly by the US Government. The property also comes with a very large rear garden, a full basement and new carpets and paint.This property is managed by one of the leading Toledo property management companies.
This property is located in the leafy suburb of LaGrange, just 2.7 miles from Downtown Toledo. LaGrange is a quiet community with great local schools and has lots of local amenities. This property is also very close to the Chrysler Assembly Complex one of the largest car manufacturing sites in the US.
Purchase price: $47,900
Gross annual rental income: $12,000
Property running costs: $2,800
(Tax, insurance and management costs)
Net annual rental income: $9,200
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%