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, and a large rear garden. The property has good tenants in place keeping it in great condition. The tenants are Section 8 so the monthly rental income of $800 is paid direct to the landlord via the US Government. The property is also under management by a great local Detroit management company
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.
• Three bedrooms.
• One bathroom.
• 941 sqft built.
• 5,227 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 44,900
Gross annual rental income: $9,600
Property running costs: $2,227 (Tax, insurance and management costs)
Net annual rental income: $7,373
Investment calculation - Net Income divided by Purchase price = NET ROI.