Detroit – $31,400

Net Return – 18%

Detroit – $31,400 Array, Array

$31,400

Description

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.

Property Details

• Three bedrooms.

• Full basement.

• 680 sqft built.

• 4,791 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

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.

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: $31,400

Net Return: 18%

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