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Property Sales - 41699872 - House in USA, Michigan, Wayne County, Detroit

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Three bedroom house

Property Information

Type:
Property ID:
Location :
Added On :
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House
41699872
Detroit, USA
27 Dec 2023
£ 56,813 / € 64,901 / $ 66,900

Short Description

This three bedroom is amazing value at $66,900..

Key Information

  • Property ID: 41699872
  • Location: Detroit
  • Property Type: House
  • Prices: £ 56,813 / € 64,901 / $ 66,900

Full Description

This fantastic large three bedroom single family house is located on a very well kept street in
Winship on the Westside of Detroit, the house is within walking distance to Renaissance High
School.
This property is on a beautiful street, and consists of three large bedrooms, one and a half
bathrooms, a lounge diner, a full basement, a large rear garden. This house offers instant equity at
this price, this house would appraise for over $100,000 looking at comparable properties for sale
in this area. This house already has a tenant in place paying $800 per month, the average rent for
a three bedroom property in this area $1,100-$1,200 per month so there is the potential for a
future rent increase.
This house is located in Winship, a great area in Detroit with a proud community feel, this area
has great schools and lots of local amenities, it is close to The University district and Bagley, two of
the best neighbourhoods in Detroit and is also walking distance to Renaissance High School.

Investment Calculations
Purchase price
$66,900
Gross annual rental income:
$9,600
Property running costs:(Tax, insurance and management costs)
$3,010
Net annual rental income:
$6,590
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

10%

Break even in

10 Years.

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Property Alerts

  • House
  • 3 bedrooms
  • USA
  • Detroit
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