Added On :
07 Mar 2018
£ 30,710 / € 34,773 / $ 38,900
This large three bedroom house is amazing value at $38,900 and also tenanted..
This three bedroom house is located on a very well kept street in Denby on the Eastside side of Detroit, the home is very close to the Chandler Park Golf Course. This property has just been refurbished throughout and it has three large bedrooms, a large basement, polished hardwood floors, new carpets and paint and a very large rear garden.There is a new tenant moving into the property in 10 days time, the tenants will paying $750 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 close to Harper Woods,Eastpointe and the famous East English Village. This area has many great schools including Denby High School and lots of local amenities. Chandler Park, one of the largest golf courses in Detroit is only a few blocks away.
Purchase price: $38,900
Gross annual rental income: $9,000
Property running costs: $2,039
(Tax, insurance and management costs)
Net annual rental income: $6,971
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%