Detroit – $31,900

Net Return – 18%

Detroit – $31,900 Array, Array

$31,900

Description

This huge three bedroom colonial house is located in Daniel Campus on the Eastside of Detroit, the property is right next to the main Chrysler plant in Detroit and is also a short distance from the famous East Jefferson Avenue. There are three large bedrooms, a full basement, dining room, living room and a large rear garden, the property was only recently updated before the placement of a new tenant. This property is currently under management by one of the leading Detroit property management companies.

This property is located in Daniel Campus which is a very central location close to downtown Detroit, it is also close to Morningside, East English Village, Grosse Pointe and the Detroit waterfront.

Property Details

• Three bedrooms.

• Full basement.

• 1,313 sqft built.

• 4,182 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: $31,900

Gross annual rental income: $7,200

Property running costs: $1,682
(Tax, insurance and management costs)

Net annual rental income: $5,518

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: $31,900

Net Return: 18%

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