Detroit – $38,900

Net Return – 16%

Detroit – $38,900 Array, Array

$38,900

Description

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.

Property Details

• Three bedrooms.

• Full basement.

• 903 sqft built.

• 6,534 sqft lot.

• Garden.

• Fully managed.

• Local staff.

• Great location.

Investment Calculation

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.

Return on investment: 16%

Break even in 6.25 Years

Detail

Price: $38,900

Net Return: 16%

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