Added On :
16 Mar 2021
£ 80,591 / € 92,064 / $ 94,900
This amazing three bedroom house is a rare find at $94,900..
This immaculate fantastic three bedroom house is located on the Westside of Detroit, this area is just north of North Rosedale Park, a very respected historic part of Detroit. The house is also just one mile from Wayne County Community College District and right opposite Ralph W Emerson Elementary School. The house consists of three spacious bedrooms, one bathroom, a very nice kitchen with all new cabinets complete with a dishwasher. Lovely hardwood floors & completely refurbished throughout, even the basement is immaculate. The house is also fenced with a nice detached garage. The management company will place brand new tenants when the new owner closes on the property. The rent will achieve between $1,100 – $1,200 each month and the tenants can also be Section 8 housing.
This property is very well located on the Westside of Detroit, the area is just north of North Rosedale Park. Similar properties here are priced very high which in turn is pushing up prices in the surrounding areas. The house is only one mile from Wayne County Community College District, recognised as an institution that has achieved national and international recognition for enduring excellence as a comprehensive multi-campus community college district. The house is also close to Grandmont Rosedale and Dearborn, which are very desirable areas on the Westside of Detroit
Purchase price: 94,900
Gross annual rental income: $14,400
Property running costs: $3,509
(Tax, insurance and management costs)
Net annual rental income: $10,891
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 12%
Break even in 8.3 Years