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  • 11
  • Ohio
Price £44,743
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Property Description

This is a fantastic opportunity to purchase a quality portfolio of 3 key ready and tenanted properties with excellent potential for increasing the rental income and improving the quoted net yield further.

The properties are located very close to each other in the popular Olde Town district of Toledo, Ohio where Zillow predicts prices will increase by 3.7% in the next 12 months.

All of these substantial single family homes were constructed in 1998 and are offered for sale in very good order.

The properties are let to cash paying tenants at below market value and the buyer of this portfolio will have the opportunity, after the closing of the sale, to get the management company to negotiate an increase in monthly rents to $500 per property. This would increase the net annual income by around $1,300 and the net yield to around 18.5% per annum.

Due a clause/condition, the properties can be let to section 8 tenants from 2016 and the monthly rental per property at that time can be increased by 50% to $750.

The exciting potential to substantially increase the rental income is one factor that makes this a fantastic opportunity. This portfolio is priced well below market value to sell now and the average selling price for similar properties in this specific neighbourhood is $58,000. The lucky buyer will be acquiring these properties at roughly half the current market value.

If you are a cash buyer looking to buy a genuinely good buy to let deal now then this is the opportunity for you. We do not believe you will find a better deal elsewhere. Please complete the Enquiry Form as soon as possible to request further details.

The portfolio comprises the following 3 properties:

115 W Bancroft, Toledo is a 4 bedroom single family home of 1,436 square feet on a lot of 6,186 square feet with the benefit of a detached garage.

217 W Bancroft. Toledo is a 3 bedroom single family home of 1,436 square feet on a lot of 5,837 square feet with the benefit of a detached garage.

2246 Warren, Toledo is a 4 bedroom single family home of 1,424 square feet on a lot of 5,576 square feet with the benefit of a detached garage.

Unlike many of our competitors, we take into account all closing and ongoing costs to give you a genuine net yield!

KEY FIGURES:

Purchase Price: $70,000

Closing Costs: $2,500 (estimated)

Agency Fee: $2,500

TOTAL OUTLAY: $75,000

RENTAL INCOME: $16,500

OUTGOINGS:

Property Taxes: $1,050

Insurance: $1,500

Management: $1,404

TOTAL OUTGOINGS: $3,954

NET INCOME: $12,546

THE NET YIELD IS THEREFORE A FANTASTIC 16.73%

For further information or to reserve this property, please complete the enquiry form as soon as possible.

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