Detroit – $46,900

Net Return – 16%

Detroit – $46,900 Array, Array

46,900

Description

This large three bedroom house is located on the Westside of Detroit, this area is just north of Dearborn which is one of the best areas in Detroit. The tenants are keeping the property in a great condition and are paying $800 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 property is very well located on the Westside of Detroit, the area is just north of Dearborn and only 2.2 miles and just a six 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.

Property Details

• Three bedrooms.

• Full basement.

• 728 sqft built.

• 4,792 sqft lot.

• Tenanted.

• Fully managed.

• Garden.

• Local staff.

Investment Calculation

Purchase price: 46,900

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: 16%

Break even in 6.25 Years

Detail

Price: 46,900

Net Return: 16%

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