This large three bedroom house is located in Littlefield on the Westside of Detroit just 1.7 miles from the famous Marygrove College. This area is surrounded by some of the best schools and colleges in Detroit, the University District is just over three miles away. This property is in a great condition and was only recently updated before the current tenant moved into the property, the new tenants are paying $850 rent a month.This house is under management by one of the leading Detroit property management companies.
This property is very well located, the area is called Littlefield,there are many schools and colleges in the local area including Margrove College one of the biggest colleges in Detroit. It is also only a few miles from the famous University District and close to Grandmont Rosedale.
• Three bedrooms.
• Full basement.
• 1,384 sqft built.
• 3,920 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $43,900
Gross annual rental income: $10,200
Property running costs: $3,040 (Tax, insurance and management costs)
Net annual rental income: $7,160
Investment calculation - Net Income divided by Purchase price = NET ROI.