Detroit – $47,900

Net Return – 18%

Detroit – $47,900 Array, Array

47,900

Description

This very nice three bedroom house is located on a very well kept street on the Westside of Detroit, just north of Dearborn. The property is in a great condition and has very good tenants in place. This property has three large bedrooms, one bathroom, a large basement, and a large rear garden The property has recently been updated and there is now Section 8 tenants in place. The rent of $900 each month is paid directly to the owner from the US Government. The house also is under management by a great local Detroit property management company.

This property is located in Warrendale and is right next to the famous University of Michigan Dearborn, of of the best universities in Detroit, it is also very close to the Henry Ford College of Dearborn, this is the perfect area for long term renting.

Property Details

• Three bedrooms.

• One bathroom.

• 942 sqft built.

• 4,792 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 47,900

Gross annual rental income: $10,800

Property running costs: $2,495
(Tax, insurance and management costs)

Net annual rental income: $8,305

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 18%

Break even in 5.5 Years

Detail

Price: 47,900

Net Return: 18%

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