Detroit – $59,900

Net Return – 19%

Detroit – $59,900 Array, Array

59,900

Description

This is a great opportunity to purchase two houses side by side located in East English Village, Very close to East English Village Preparatory Academy which is one of the best schools in Detroit. This area is very demanded by investors as it is part of the Motor City Makeover scheme. Both duplex houses are in a lovely street and have three bedrooms and one bathroom each. One property has great tenants in place paying $600 in rent each month, The management company will place brand new tenants in the second house also paying $600 in rent when the new owner closes on the property.

This property is very well located, the area is called East English Village, full of many schools, cafes, supermarkets & restaurants. Also very close to Harper Woods and Grosse Pointe Woods. The property is just a short walk to East English Village Preparatory Academy which is one of the best schools in Detroit.

Property Details

• Six bedrooms.

• Two bathrooms.

• 2,111 sqft built.

• 6,970 sqft lot.

• Fully managed.

• Local staff.

• Garden.

• Great location.

Investment Calculation

Purchase price: 59,900

Gross annual rental income: $14,400

Property running costs: $3,211
(Tax, insurance and management costs)

Net annual rental income: $11,189

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

Return on investment: 19%

Break even in 5.26 Years

Detail

Price: 59,900

Net Return: 19%

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