Added On :
12 Aug 2017
£ 25,974 / € 29,409 / $ 32,900
This large three bedroom house is amazing value at $32,900 and also tenanted.
This three bedroom house is located on a nice street on the Westside of Detroit, the property is located in Morin Park just 4.2 miles from the famous Grandmont Rosedale. There are three large bedrooms, a full basement, a large rear garden and a brand new roof, the property also comes with great tenants in place who are paying $650 a month.This property is under management by one of the leading Detroit property management companies.
This property is located in Morin Park right next to Warrendale and very close to Dearborn. This property is incredibly well located, close by you have the University of Michigan Dearborn, the Henry Ford College Dearborn, and the Vista Meadows Academy. The location of this property is perfect for long term renting. The Fairlane Town Centre which is one of the biggest malls in Detroit is only a few blocks away.
Purchase price: $32,900
Gross annual rental income: $7,800
Property running costs: $2,072
(Tax, insurance and management costs)
Net annual rental income: $5,728
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%