Detroit – $55,900

Net Return – 15%

Detroit – $55,900 Array, Array

55,900

Description

This three bedroom house is located on the Eastside of Detroit This area is surrounded by great schools and colleges in Detroit. The property is in a great condition and has just been updated throughout to a Section 8 standard. There are three large bedrooms, a full basement and a large rear garden with a detached garage. There are new Section 8 tenants now in place paying $850 in rent each month. The monthly rent is paid direct to the landlord via the US Government.

This house is located on the Eastside of Detroit, a great area 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 just 8 minutes from the Belair Mall which holds host to the largest cinemas in Detroit.

Property Details

• Three bedrooms.

• One Bathroom

• 1,000 sqft built.

• 5,227 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 55,900

Gross annual rental income: $10,200

Property running costs: $2,168
(Tax, insurance and management costs)

Net annual rental income: $8,032

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

Return on investment: 15%

Break even in 6.6 Years

Detail

Price: 55,900

Net Return: 15%

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