Added On :
29 Aug 2017
£ 24,395 / € 27,621 / $ 30,900
This large two bedroom house is amazing value at only $30,900 and also tenanted.
This very large two bedroom house is located on a nice street on the Westside of Detroit, the area is called Warrendale which is a very well kept neighbourhood on the border of Dearborn, close by you also two of the main Universities and the Fairline Shopping Mall, one of the biggest in Detroit. There are two large bedrooms, a full basement and a very large rear garden, 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 very well located on the Westside of Detroit, it is ideally located close to some of the major schools and colleges in Detroit. Close by you have the University of Michigan Dearborn, the Henry Ford College Dearborn, and the Vista Meadows Academy. It is also very close to Dearborn and is only a few miles from Grandmont Rosedale.
Purchase price: $30,900
Gross annual rental income: $7,800
Property running costs: $2,310
(Tax, insurance and management costs)
Net annual rental income: $5,490
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%