This very large two bedroom house is located in Evergreen on the Westside of Detroit, just north of Rosedale Park and close to Brightmoor. This property offers great value for money as it was recently updated and is Section 8 approved and tenanted. It has two large bedrooms, a finished basement with a bar and a large rear garden. There is a new Section 8 tenant in place paying $750 rent a month. The rent for this property is paid by the US Government.This property is managed by one of the leading Detroit property management companies.
This property is located on a very well kept street in Evergreen, just 2.5 miles from the famous Grandmont Rosedale. This area is also close to Rosedale Park, Brightmoor and Belmont. Evergreen is a great area with many good schools and good local facilities, this property is perfectly located for long term renting.
• Two bedrooms.
• 970 sqft built.
• 5,184 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $35,900
Gross annual rental income: $9,000
Property running costs: $2,619 (Tax, insurance and management costs)
Net annual rental income: $6,381
Investment calculation - Net Income divided by Purchase price = NET ROI.