Added On :
15 Dec 2022
£ 65,815 / € 75,184 / $ 77,500
This three bedroom house is amazing value at $77,500..
This large three bedroom colonial house is located on a very well kept street
in Moross-Morang on the Eastside of Detroit, the house is only 1.4 miles and
four minutes from Denby High School.
The property consists of three large bedrooms, one bathroom, a large kitchen
and lounge/diner, a full basement and a large rear garden with a detached
garage. The house has a Section 8 tenant in place paying $924 in rent each
month. The rent is paid direct to the owner via the City. Of Detroit. The house
is under management with a great local Detroit property management
This house is located in Moross-Morang, a great area in Detroit with a proud
community feel, this area has great schools and lots of local amenities, it is
right next to Denby and Cornerstone Village. The property is just 1.4 miles
and 4 minutes from Denby High School one of the best schools in Detroit.
Purchase price: $77,500
Gross annual rental income: $11,088
Property running costs: $3,108
(Tax, insurance and management costs)
Net annual rental income: $7,980
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 11%
Break even in 9.09 Years