Annualized Return Calculation for Investment Property

A real estate agent is analyzing investment properties. One property has an annual return of $$ 12.5 \% $$ based on its purchase price of $$ 240,000 $$ dollars. Another property generates a monthly rental income of $$ 1,850 $$ dollars. To compare the two investments effectively, the agent calculates the annualized return for the second property. What is the annualized return for the second property expressed as a percentage?