This large three bedroom colonial house is located on a very well kept street right
next to Morningside on the Eastside of Detroit, the house is only three minutes to
the Ronald Brown Academy.
The property has three large bedrooms, one bathroom, a large basement and a
large rear garden with a detached garage. The house has a good long term tenant
in place paying $800 in rent each month.
The house is under management with a great local Detroit property management
This house is located next to Morningside, 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 East English Village and Chandler Park. The property is just three minutes to
The Ronald Brown Academy one of the best schools in Detroit.
Purchase price: 52,900
Gross annual rental income: $9,600
Property running costs: $2,063
(Tax, insurance and management costs)
Net annual rental income: $7,537
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 15%Break even in 6.6 Years