Detroit – $39,900

Net Return – 18%

Detroit – $39,900 Array, Array

39,900

Description

This large three bedroom house is located on the Westside of Detroit, this area is just north of Dearborn which is one of the best areas in Detroit. The property already has tenants in place keeping in great condition paying $800 in rent each month. The property has three large bedrooms, One and a half bathrooms, a large basement and a large rear garden. This is a fantastic rental property and is under management by a local property management company.

This property is very well located on the Westside of Detroit which is just north of Dearborn and less than 2 miles and just a six minute drive from the centre of Grandmont Rosedale. It is also close to Rosedale Park, Belmont and Redford, all of which are very desirable areas on the Westside of Detroit.

Property Details

• Three bedrooms.

• Full basement.

• 1,244 sqft built.

• 4,792 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 39,900

Gross annual rental income: $9,600

Property running costs: $2,564
(Tax, insurance and management costs)

Net annual rental income: $7,036

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

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 39,900

Net Return: 18%

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