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Property Sales - 41591102 - Townhouse in USA, Michigan, Wayne County, Detroit

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Three bedroom house

Property Information

Type:
Property ID:
Location :
Added On :
Price :
Townhouse
41591102
Detroit, USA
29 Apr 2021
£ 33,066 / € 36,824 / $ 44,900

Short Description

This large three bedroom house is a rare find at $44,900..

Key Information

  • Property ID: 41591102
  • Location: Detroit
  • Property Type: Townhouse
  • Prices: £ 33,066 / € 36,824 / $ 44,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This large three bedroom house is located in Greenfield on the Westside of Detroit, this area is just north of Grandmont Rosedale which is one of the best areas in Detroit. The property has three spacious bedrooms, one bathroom, a full basement and a large rear garden. The house is currently being updated inside and made rental ready to a good standard. The management company will place brand new tenants when the new owners closes on the property paying $750 in rent each month.

This property is very well located on the Westside of Detroit, the area is called Greenfield which is just 15 miles from the centre of Detroit. The house is also just six minutes drive from the centre of Grandmont Rosedale. It is also close to Rosedale Park historic district and The University district all of which are very desirable areas on the Westside of Detroit.

 

Investment Calculation


Purchase price: 44,900

Gross annual rental income: $9,000

Property running costs: $2,350
(Tax, insurance and management costs)

Net annual rental income: $6,650

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 15%

Break even in 6.6 Years

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