Detroit – $48,900

Net Return – 16%

Detroit – $48,900 Array, Array

48,900

Description

This large three bedroom colonial house is located on a very well kept street in Fitzgerald on the West side of Detroit, the house is less than a mile and walking distance to Marygrove College. The property already has tenants in place keeping in great condition paying $850 in rent each month. The property has three large bedrooms, one bathroom, 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 new 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 Fitzgerald 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 The University district and is walking distance to The Marygrove College which was established in 1905

Property Details

• Three bedrooms.

• One Bathroom

• 1,384 sqft built.

• 3,920 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 48,900

Gross annual rental income: $10,200

Property running costs: $2,484
(Tax, insurance and management costs)

Net annual rental income: $7,716

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

Return on investment: 16%

Break even in 6.25 Years

Detail

Price: 48,900

Net Return: 16%

See what our investors have to say

THE USA BUYING PROCESS