Detroit – $35,900

Net Return – 19%

Detroit – $35,900 Array, Array

$35,900

Description

This three bedroom house is located on a very street in Osborn on the Eastside of Detroit, just a few streets away from Eastpointe. The property is currently being made rental ready including new carpets and paint, new tenants are being placed in two weeks time, before you close on the property. There are three large bedrooms, a converted attic, a full basement and a detached garage. This property is currently under management by one of the leading Detroit property management companies.

This property is located in Osborn, which is just east of Pulaski and close to Coleman Young International Airport. This area had a good community feel and had good schools and a lot of local amenities, it is also close to Eastpointe, East English Village and Harper Woods.

Property Details

• Three bedrooms.

• Full basement.

• 789 sqft built.

• 4,008 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: $35,900

Gross annual rental income: $9,000

Property running costs: $2,316
(Tax, insurance and management costs)

Net annual rental income: $6,864

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

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: $35,900

Net Return: 19%

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