Detroit -$44,900

Net Return – 17%

Detroit -$44,900 Array, Array

44,900

Description

This three bedroom house is located on the Eastside of Detroit just minutes from the Belair Mall which holds host to the largest cinemas in Detroit. This area is surrounded by great schools and colleges in Detroit, The house is just 1.3 miles away from John J Pershing High School. The property is in a great condition, there are three large bedrooms, a full basement and a large rear garden with a detached garage. The property has just been updated inside and now has good tenants in place paying $800 in rent each month. The property is under management by a great local Detroit management company.

This house is located on the Eastside of Detroit, a great area with a proud community feel, this area has great schools and lots of local amenities, it is right next to The University district and just 1.3 miles and five minutes to John J Pershing High School.

Property Details

• Three bedrooms.

• One Bathroom

• 982 sqft built.

• 5,663 sqft lot.

• Tenanted.

• Fully managed.

• Garden.

• Local staff.

Investment Calculation

Purchase price: 44,900

Gross annual rental income: $9,600

Property running costs: $2,380
(Tax, insurance and management costs)

Net annual rental income: $7,220

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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