Detroit – $42,900

Net Return – 19%

Detroit – $42,900 Array, Array

$42,900

Description

This three bedroom house is located on a nice street in Farwell on the Eastside of Detroit, the home sits just South of 8 Mile Road. This property is in a great condition and it has three large bedrooms, a large basement and a huge rear garden, it is also Section 8 approved and tenanted. The rent for this property is high at $900 a month, this rent is paid by the US Government.This property is managed by one of the leading Detroit property management companies.

This property is very well located it is between the University District and Eastpointe on the Eastside of Detroit, it is also only a few minutes away from the Bel Air Shopping Center which holds host to one of the biggest cinemas in Detroit.

Property Details

• Three bedrooms.

• Full basement.

• 1,037 sqft built.

• 6,011 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: $42,900

Gross annual rental income: $10,800

Property running costs: $2,726
(Tax, insurance and management costs)

Net annual rental income: $8,074

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

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: $42,900

Net Return: 19%

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