This large three bedroom house is located in College Park on the Westside of Detroit, this area is just north of Grandmont Rosedale which is one of the best areas in Detroit. The property already has tenants in place keeping the house in a 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, it also has a large two car garage. 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, the area is called College Park which is just north of Belmont and only 3 miles and just a 12 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.
• Three bedrooms.
• Full basement.
• 741 sqft built.
• 0.25 acres.
• Fully managed.
• Local staff.
Purchase price: 39,900
Gross annual rental income: $9,600
Property running costs: $2,055 (Tax, insurance and management costs)
Net annual rental income: $7,545
Investment calculation - Net Income divided by Purchase price = NET ROI.