This fantastic three bedroom house is located in Jennings, a thriving middle class neighbourhood which is one of the most stable neighbourhoods in the city and is less than 1 mile to Herzog Elementary school. The home has two large bedrooms, one bathroom and a large lounge diner. The property is currently being refurbished throughout. Brand new tenants will be placed by the management company paying $850 in rent each month when the new owner closes on the property.The tenants will be Section 8 housing so the rent will be guaranteed and paid by the US Government.
Property Details
• Three bedrooms.
• Full Basement.
• 768 sqft built.
• 3,833 soft lot.
• Tenanted.
• Fully managed.
• Local staff.
• Garden.
Investment Calculation
Purchase price: 39,900
Gross annual rental income: $10,200
Property running costs: $2,145
(Tax, insurance and management costs)
Net annual rental income: $8,055
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%
Break even in 4.76 Years