Detroit – $55,900

Net Return – 14%

Detroit – $55,900 Array, Array

55,900

Description

This large three bedroom colonial house is located on a very well kept street in Denby on the Eastside of Detroit, the house is only half a mile and just a short walk from Denby High School. 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 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 in Denby 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 East English Village and Morningside. The property is just 0.5 miles and walking distance from Denby High School one of the best schools in Detroit.

Property Details

• Three bedrooms.

• Full basement.

• 1,255 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: $2,378
(Tax, insurance and management costs)

Net annual rental income: $7,822

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

Return on investment: 14%

Break even in 7.14 Years

Detail

Price: 55,900

Net Return: 14%

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