Detroit – $42,900

Net Return – 14%

Detroit – $42,900 Array, Array

42,900

Description

This large three bedroom colonial house is located on a very well kept street on the Eastside of Detroit, the house is just 1.6 miles and only five minutes from Denby High School. The tenants are keeping the property in a great condition and are paying $700 rent a month. There are three large bedrooms, a full basement and a large rear garden with a detached garage. This is a fantastic rental property and is under management by a local property management company.

This house is located on the Eastside of Detroit next to Denby. This is 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 1.6 miles and only five minutes from Denby High School one of the best schools in Detroit.

Property Details

• Three bedrooms.

• Full basement.

• 891 sqft built.

• 6,534 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 42,900

Gross annual rental income: $8,400

Property running costs: $2,479
(Tax, insurance and management costs)

Net annual rental income: $5,921

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

Return on investment: 14%

Break even in 7.14 Years

Detail

Price: 42,900

Net Return: 14%

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