Detroit – $38,900

Net Return – 15%

Detroit – $38,900 Array, Array

$38,900

Description

This large three bedroom family home is located on a very well kept street in Leigh Coopers 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 large rear garden. This property is under management by one of the best management companies in Detroit, the management company have already taken a deposit from a great family who are moving into the property on the first of August.

This property is located on a very well kept street in Leigh Coopers, this area is very close to East English Village, Harper Woods, Eastpointe and Morningside. It is also just 10 miles from the centre of Downtown Detroit and a few streets away from the famous Chandler Park Golf Course.

Property Details

• Three bedrooms.

• Full basement.

• 1,477 sqft built.

• 4,792 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: $38,900

Gross annual rental income: $8,400

Property running costs: $2,840
(Tax, insurance and management costs)

Net annual rental income: $5,560

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

Return on investment: 15%

Break even in 6.6 Years

Detail

Price: $38,900

Net Return: 15%

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