This large three bedroom colonial house is located on a very well kept street in Morningside on the Eastside of Detroit, the house is only a five minute walk to the Ronald Brown Academy. The property already has tenants in place keeping in great condition paying $800 in rent each month. The property has three large bedrooms, two bathrooms, a large basement and a large rear garden with a detached garage. Also the property will be delivered city inspected and certified within four weeks of the n ew owners closing on the property. This is a fantastic rental property and is under management by a local property management company.
This house is located in Morningside 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 Chandler Park. The property is just a five minute walk to The Ronald Brown Academy one of the best schools in Detroit.
• Three bedrooms.
• Two Bathrooms
• 1,231 sqft built.
• 4,792 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 46,900
Gross annual rental income: $9,600
Property running costs: $2,512 (Tax, insurance and management costs)
Net annual rental income: $7,088
Investment calculation - Net Income divided by Purchase price = NET ROI.