Three bedroom house, Detroit, USA
Detroit, Wayne County, Michigan, USA
Property ID: 41592767
Summary Data
| Price | £74,647 |
| Price Type | |
| Bedrooms | Studio |
| Bathrooms | 1 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | Townhouse |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This fantastic three bedroom house is located on a very well kept street in Ravendale on the Eastside of Detroit, the house is just 2.3 miles from The Ronald Brown Academy. This property has just been refurbished inside throughout to a very good Section 8 standard, it has three large bedrooms, a large basement and a large rear garden. The management company has a Section 8 tenant ready to move in paying $1,600 in rent each month which makes this a fantastic immediate turn key investment. The tenant will be living in the property before the new owner closes on the property.
This property is located in Ravendale which is close to Harper Woods, Eastpointe and the famous East English Village. This area has many great schools and lots of local amenities. Chandler Park one of the largest golf courses in Detroit is only a few blocks away, it is also only 6.7 miles from Downtown Detroit.
Investment Calculation
Purchase price: 87,900
Gross annual rental income: $19,200
Property running costs: $3,242
(Tax, insurance and management costs)
Net annual rental income: $15,958
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years