Three bedroom house, Detroit, USA
Detroit, Wayne County, Michigan, USA
Property ID: 41635009
Summary Data
| Price | £63,607 |
| Price Type | |
| Bedrooms | Studio |
| Bathrooms | 2 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | Townhouse |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This lovely three bedroom house is located in the Evergreen neighbourhood on the
Westside of Detroit.
The house is spacious and consists of three bedrooms, two bathrooms, a full
basement and a rear garden. The property has a Section 8 tenant in place that has
resided in the house for 18 years. The monthly rent of $950 is paid direct to the
landlord via the City of Detroit.
This is a fantastic rental property and is under management by a local property
management company
This property is very well located on the Westside of Detroit, the area is called
Evergreen. The house is only one mile and less than four minutes to Wayne County
community college and also less than one mile to Henry Ford High school. There are
many good schools in this area.
Investment Calculation
Purchase price: 74,900
Gross annual rental income: $11,400
Property running costs: $2,352
(Tax, insurance and management costs)
Net annual rental income: $9,048
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 12%
Break even in 8.33 Years