Detroit – $36,900

Net Return – 18%

Detroit – $36,900 Array, Array

36,900

Description

This large three bedroom house is located on a very well kept street in Pulaski on the Eastside of Detroit, the house is only 3.7 miles from Harper Woods High School which is one of the best schools in Detroit. This property has just been updated and it has three large bedrooms, a large basement and a very large rear garden. It also has new tenants in place who are paying $700 rent a month, this property is managed by a good local management company.

This property is located on a very well kept street in Pulaski right next to the famous Eastpointe. This area is great for long term renting and is also close to Harper Woods, Greensbriar and Harper Woods, it is also just 10 miles from the centre of Downtown Detroit.

Property Details

• Three bedrooms.

• Full basement.

• 845 sqft built.

• 5,227 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 36,900

Gross annual rental income: $8,400

Property running costs: $1,962
(Tax, insurance and management costs)

Net annual rental income: $6,438

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

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 36,900

Net Return: 18%

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