Detroit – $49,900

Net Return – 16%

Detroit – $49,900 Array, Array

49,900

Description

This large three bedroom colonial house is located on a very well kept street in the Airport Sub on the Eastside of Detroit, the house is just 3 miles from the old Detroit airport which is now home to AVflight, an international aviation company for business and military. The property already has tenants in place keeping in great condition paying $800 in rent each month. The property has three large bedrooms, One and a half bathrooms, a large basement and a large rear garden. 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 the Airport Sub 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 old Detroit city airport which is now home to AVflight, an international aviation company for business and military.

Property Details

• Three bedrooms.

• One and a half Bathrooms

• 1,464 sqft built.

• 4,356 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 49,900

Gross annual rental income: $9,600

Property running costs: $1,755
(Tax, insurance and management costs)

Net annual rental income: $7,845

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

Return on investment: 16%

Break even in 6.25 Years

Detail

Price: 49,900

Net Return: 16%

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