Detroit – $39,500

Net Return – 18%

Detroit – $39,500 Array, Array

39,500

Description

This large three bedroom colonial house is located on a very well kept street in Regent Park on the Eastside of Detroit, the house is only 1.4 miles and just five minutes from Denby High School. The property has recently been updated throughout and has been city inspected and certified. The property has had tenant in place now for six months paying $750 in rent each month. This is a fantastic rental property and is under management by a local property management company.

This house is located in Regent Park a great area in Detroit with a proud community feel, this area has great schools and lots of local amenities, it is right next to East English Village and Morningside. The property is just 1.4 miles and five minutes from Denby High School one of the best schools in Detroit.

Property Details

• Three bedrooms. • Full basement. • 1,100 sqft built. • 5,227 sqft lot. • Tenanted. • Fully managed. • Local staff. • Garden.

Investment Calculation

Purchase price: 39,500

Gross annual rental income: $9,000

Property running costs: $2,195
(Tax, insurance and management costs)

Net annual rental income: $6,805

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

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 39,500

Net Return: 18%

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