This three bedroom house is located on a well kept street in Blackstone Park on the Westside of Detroit just 2.8 miles from the famous Marygrove College. This property is in a good condition and has three bedrooms, a large rear garden and a full basement. The property also comes with very good tenants in place who are paying $650 rent a month. This house is under management by one of the leading Detroit property management companies.
This property is very well located for long term renting, it is located right next to the famous Royal Oak Charter Township and it also very close to Marygrove College. The University District is only 3 miles away and it also very close to Bagley.
• Three bedrooms.
• Full basement.
• 680 sqft built.
• 4,791 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $31,400
Gross annual rental income: $7,800
Property running costs: $2,321 (Tax, insurance and management costs)
Net annual rental income: $5,479
Investment calculation - Net Income divided by Purchase price = NET ROI.