This large three bedroom house is very well located, the area is called LaSalle College Park which is close to Eastpointe and Harper Woods both of which are highly demanded. The property is in a good condition and has three large bedrooms, a full basement and a large rear garden. The property also comes with a great tenant who are paying $700 rent a month, the house is under management by one of the leading Detroit property management companies.
LaSalle College Park is a good family area in Detroit, there are great schools and very good local amenities. This location is ideal due to its accessibility to Downtown and its close proximity to expensive areas, such as Eastpointe and East English Village.
• Three bedrooms.
• Full basement.
• 870 sqft built.
• 4,356 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $32,400
Gross annual rental income: $8,400
Property running costs: $2,621 (Tax, insurance and management costs)
Net annual rental income: $5,779
Investment calculation - Net Income divided by Purchase price = NET ROI.