Detroit – $37,900

Net Return – 17%

Detroit – $37,900 Array, Array

37,900

Description

This very nice three bedroom house is located on a very well kept street in Franklin Park on the Westside of Detroit, just north of Dearborn. This property has three large bedrooms, one bathrooms, a large basement, a detached garage and a large rear garden. The property was recently inspected and has passed the City Certification process. City Certified properties are in very high demand as they are deemed a much more valuable asset particularly in good neighbourhoods The property has been updated and made rental ready and the management company will be placing brand new tenants when the new owner closes on the property paying between $650 – $700 in rent each month.

This property is located in Franklin Park and is right next to the famous Rouge Park golf course. The property is also close to the University of Michigan and the Henry Ford College of Dearborn, this is the perfect area for long term renting.

Property Details

• Three bedrooms. • One bathroom. • 1,100 sqft built. • 5,401 sqft lot. • Tenanted. • Fully managed. • Local staff. • Garden.

Investment Calculation

Purchase price: 37,900

Gross annual rental income: $8,400

Property running costs: $2,165
(Tax, insurance and management costs)

Net annual rental income: $6,235

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

Return on investment: 17%

Break even in 5.8 Years

Detail

Price: 37,900

Net Return: 17%

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