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Property Sales - 41641645 - Townhouse in USA, Michigan, Wayne County, Detroit

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Three bedroom house

Property Information

Type:
Property ID:
Location :
Added On :
Price :
Townhouse
41641645
Detroit, USA
02 Jul 2022
£ 53,416 / € 61,021 / $ 62,900

Short Description

This large three bedroom house is a rare find at $62,900..

Key Information

  • Property ID: 41641645
  • Location: Detroit
  • Property Type: Townhouse
  • Prices: £ 53,416 / € 61,021 / $ 62,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This lovely three bedroom house is located in Grand River-St. Marys on the Westside
of Detroit, this area is just north of Dearborn which is one of the best areas in Detroit.
There are three large bedrooms, one and a half bathrooms, a full basement and a
nice garden with a detached double garage. The property has just been vacated and
the seller will complete a few minor cosmetic repairs after closing to bring the house
to a Section 8 rent ready standard. The management company will then place brand
new tenants when the new owner closes on the property paying $1,100 – $1,200 in
rent each month. The tenants can be Section 8 housing or private.

This property is very well located on the Westside of Detroit, the area is called Grand
River-St. Marys which is just north of Dearborn and only 1 miles and just a four minute
drive from the centre of Grandmont Rosedale. It is also close to Rosedale Park,
Belmont and Redford, all of which are very desirable areas on the Westside of
Detroit.

 

Investment Calculation

Purchase price: 62,900

Gross annual rental income: $14,400

Property running costs: $3,001
(Tax, insurance and management costs)

Net annual rental income: $11,399

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

Return on investment: 19%

Break even in 5.26 Years

Contact the Advertiser

Property Alerts

  • Townhouse
  • 3 bedrooms
  • USA
  • Detroit
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