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.
• Three bedrooms.
• One Bathroom
• 1,000 sqft built.
• 5,227 sqft lot.
• Fully managed.
• Local staff.
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.