Three bedroom house City of Detroit, Wayne County, Michigan, USA 3 Bed Townhouse £38,958 | €43,386 | $52,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $52,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41608700

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
company.

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.

 

Investment Calculation

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
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