Added On :
City of Cleveland, USA
27 Nov 2018
£ 26,010 / € 31,342 / $ 33,900
This large two bedroom house is a rare find at $33,900...
This great two bedroom house is located on the Westside of Detroit, just two blocks away from Old Redford Academy High School, which is one of the best schools in Detroit and right next to Ralph W. Emerson Elementary-Middle School. This property was recently updated and also comes with a new tenant in place paying $700 rent a month, This property is under management by a local Detroit property management company.
This property is very well located on the Westside of Detroit in a great area with many good schools and lots of local amenities, it is close to Redford Charter Township, Rosedale Park, Grandmont Rosedale and Brightmoor which are also good areas in Detroit.
Purchase price: 33,900
Gross annual rental income: $8,400
Property running costs: $2,100
(Tax, insurance and management costs)
Net annual rental income: $6,300
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%