This large three bedroom family home is located on a very well kept street in Regents Park on the Eastside of Detroit. The property has been refurbished to a high standard by one of the leading Detroit building companies. There are three large bedrooms, a full basement, a large detached garage and a very large rear garden, the total lot size is over 6,000 sqft. This property has just been listed for rentals at $750 a month by one of the best management companies in Detroit.
This property is very well located, the area is called Regents Park and is close to Eastpointe which is a highly sought after area. It is also close to East English Village, Harper Woods and Grosse Pointe Woods.
• Three bedrooms.
• Full basement.
• 903 sqft built.
• 6,534 sqft lot.
• Fully managed.
• Local staff.
• Great location.
Purchase price: $38,900
Gross annual rental income: $9,000
Property running costs: $3,000 (Tax, insurance and management costs)
Net annual rental income: $6,000
Investment calculation - Net Income divided by Purchase price = NET ROI.