Detroit – $34,900

Net Return – 18%

Detroit – $34,900 Array, Array

$34,900

Description

This very large three bedroom house is located in Petosky – Otsego on the Westside of Detroit. The house is located only 5.7 miles away from Wayne State University, the largest University in Detroit. This property is in a good condition and has three large bedrooms, a large basement and a large rear garden. This property has tenants in place paying $700 rent a month. This house is under management by one of the leading Detroit property management companies.

This property is located in Petosky-Otsego which is famous for its large colonial properties, it is right next to the famous Russell Woods. It is also only a few miles from the University District where you will find some of the most expensive real estate in Detroit.

Property Details

• Three bedrooms.

• Full basement.

• 1,421 sqft built.

• 3,484 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: $34,900

Gross annual rental income: $8,400

Property running costs: $2,281
(Tax, insurance and management costs)

Net annual rental income: $6,119

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

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: $34,900

Net Return: 18%

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