Added On :
02 Jul 2017
£ 28,311 / € 34,116 / $ 36,900
This large three bedroom house is amazing value at $36,900 and also tenanted.
This very large three bedroom house is located on a very well kept street in Krainz Woods on the Eastside of Detroit. This property is in a good condition and has three large bedrooms, a large basement and very large rear garden, the total plot size is a massive 9,583 sqft. This property has new tenants in place paying $775 rent a month. This house is under management by one of the leading Detroit property management companies.
This property is very well located it is between the University District and Eastpointe on the Eastside of Detroit, it is also only a few minutes away from the Bel Air Shopping Center which holds host to one of the biggest cinemas in Detroit.
Purchase price: $36,900
Gross annual rental income: $9,300
Property running costs: $2,420
(Tax, insurance and management costs)
Net annual rental income: $6,880
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%