Detroit – $44,900

Net Return – 17%

Detroit – $44,900 Array, Array

44,900

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, 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.

Property Details

• Three bedrooms.

• One bathroom.

• 941 sqft built.

• 5,227 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

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.

Return on investment: 17%

Break even in 5.8 Years

Detail

Price: 44,900

Net Return: 17%

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