Detroit – $32,400

Net Return – 18%

Detroit – $32,400 Array, Array

$32,400

Description

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.

Property Details

• Three bedrooms.

• Full basement.

• 870 sqft built.

• 4,356 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

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.

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: $32,400

Net Return: 18%

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