Inkster – $39,900

Net Return – 15%

Inkster – $39,900 Array, Array

39,900

Description

This large three bedroom house is located on a very well kept street in Inkster Wayne County, Inkster City is a sought after location twenty miles from Downtown Detroit. Properties located in the Greater Detroit suburbs are usually more expensive due to their quite location and ease of access to Downtown. This property is in a good condition and has three large bedrooms, a large basement and a large rear garden. The property also comes with a $3,000 refurbishment included in the purchase price, you will paid one months rent while the work is taking place and the new tenants are being placed.

Inkster is a small city with a population of just over 25,000, the city has many great schools and a local town centre. This type of location is becoming very popular with investors due to the quiet community feel but still also within close proximity to Downtown Detroit.

Property Details

• Three bedrooms.

• Full basement.

• 930 sqft built.

• 5,227 sqft lot.

• Tenanted.

• Fully managed.

• Local staff.

• Garden.

Investment Calculation

Purchase price: 39,900

Gross annual rental income: $9,450

Property running costs: $3,375
(Tax, insurance and management costs)

Net annual rental income: $6,075

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

Return on investment: 15%

Break even in 6.6 Years

Detail

Price: 39,900

Net Return: 15%

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