Detroit – $49,900

Net Return – 21%

Detroit – $49,900 Array, Array

49,900

Description

This three bedroom house is located in Krainz Woods on the Eastside of Detroit just 8 minutes from the Belair Mall which holds host to the largest cinemas in Detroit. This area is surrounded by great schools and colleges in Detroit and is less than a mile from John Pershing High School. This property is in a great condition, there are Four large bedrooms, a full basement and a large rear garden with a detached garage. The property has section 8 tenants in place. The monthly rent of $1,100 each month is paid direct to the landlord via the US Government.

This house is located in Krainz Woods 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 John Pershing High School.

Property Details

• Four bedrooms.

• One Bathroom

• 1,120 sqft built.

• 3,920 sqft lot.

• Fully managed.

• Local staff

• Garden.

• Great location.

Investment Calculation

Purchase price: 49,900

Gross annual rental income: $13,200

Property running costs: $2,787
(Tax, insurance and management costs)

Net annual rental income: $10,413

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

Return on investment: 21%

Break even in 4.76 Years

Detail

Price: 49,900

Net Return: 21%

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