This large three bedroom family home is located in Lane-Wooster, Akron, just four minutes and 1.7 miles Downtown Akron and just 2.4 miles from The University of Akron. There are three large bedrooms, one bathroom, a full basement and sits on a huge 0.26 Acre plot. The property is in great condition and is under management by a great local company. The management company will be placing brand new tenants when the new owner closes on the property paying $800 rent per month.
Property Details
• Three bedrooms.
• Full basement.
• 1,789 sqft built.
• 0.26 Acres.
• Tenanted.
• Fully managed.
• Local staff.
• Garden.
Investment Calculation
Purchase price: 38,900
Gross annual rental income: $9,600
Property running costs: $2,200
(Tax, insurance and management costs)
Net annual rental income: $7,380
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years