This large three bedroom house is located in Castle Point and is just a short walk from Lewis & Clark Elementary School.
The home has three large bedrooms, one bathroom and a large lounge diner. The property is currently being updated throughout and made rental ready to a Section 8 standard. Brand new tenants will be placed by the management company paying $850 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.
• One bathroom.
• 864 sqft built.
• 5,201 soft lot.
• Tenanted.
• Fully managed.
• Local staff.
• Garden.
Investment Calculation
Purchase price: 45,900
Gross annual rental income: $10,200
Property running costs: $2,320
(Tax, insurance and management costs)
Net annual rental income: $7,880
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years
