Added On :
City of Detroit, USA
21 Apr 2022
£ 42,640 / € 47,486 / $ 57,900
This large three bedroom house is a rare find at $57,900..
This three bedroom house is located in on the North Eastside of Detroit just ten
minutes from the Belair Mall which holds host to the largest cinemas in Detroit.
This area is surrounded by great schools and colleges in Detroit and is just 1.8
miles from John Pershing High School.
This property is in a great condition, there are three large bedrooms, a full
basement and a large rear garden. The property been recently updated and now
has tenants in place paying $800 in rent each month. The monthly rent of $1,100
each month is paid direct to the landlord via the US Government The house is
under management with a great local Detroit property management company.
This house is located on the North Eastside of Detroit in a great area in Detroit
with a proud community feel, this area has great schools and lots of local
amenities, it is right next to The University district and close to John Pershing
Purchase price: 57,900
Gross annual rental income: $9,600
Property running costs: $2,336
(Tax, insurance and management costs)
Net annual rental income: $7,264
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 13%
Break even in 7.69 Years