Detroit – $44,900

Net Return – 22%

Detroit – $44,900 Array, Array

$44,900

Description

This large multi-family home is located in Robert Oakmans on the Westside of Detroit, just 3 miles from the University District. This house is made up of two very large two bedroom apartments each with its own entrance. The lower apartment has been made rental ready and there is $3,800 included in the purchase price to make the upper apartment rental ready, the work will be completed within 3/4 weeks after closing. You will receive a two month rental guarantee for both apartments while the work is being done and the tenants are being placed, the rent will be credited to your account on closing so you get all of the rent on the day you close.

This property is located in Robert Oakmans which is only 3.6 miles from the University District and only 2.9 miles from the famous Boston Edison Historic District.

Property Details

• Four bedrooms.

• Two apartments.

• 2,458 sqft built.

• 4,356 sqft lot.

• Fully managed.

• Local staff.

• Great location.

• Garden.

Investment Calculation

Purchase price: $44,900

Gross annual rental income: $13,200

Property running costs: $3,338
(Tax, insurance and management costs)

Net annual rental income: $9,862

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

Return on investment: 22%

Break even in 4.54 Years

Detail

Price: $44,900

Net Return: 22%

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