This large three bedroom colonial house is located on a very well kept street in Crary on the Westside of Detroit, the house is just six minutes from the famous Grandmont Rosedale and right next to Belmont. This property is in a good condition and has three large bedrooms, a large basement, a detached garage and a large rear garden. This property has tenants in place paying $740 per month. The tenants are Section 8 so the rental income is paid by the US Government direct to the landlord. This house is under management by a local Detroit property management company.
This property is located in Crary on the desirable westside of Detroit, the house is just a few streets away from Belmont and only 1.5 miles from Grandmont Rosedale. It is also very close to the University District so it is surrounded by some of the best areas in Detroit.
• Three bedrooms.
• Full basement.
• 1,410 sqft built.
• 4,574 sqft lot.
• Fully managed.
• Local staff.
Purchase price: 39,900
Gross annual rental income: $8,880
Property running costs: $2,469 (Tax, insurance and management costs)
Net annual rental income: $6,411
Investment calculation - Net Income divided by Purchase price = NET ROI.