This three bedroom house is located in Von Steuben on the Eastside of Detroit
just six minutes from the Belair Mall which holds host to the largest cinemas in
Detroit. This area is surrounded by great schools and colleges in Detroit and is
just a short walk to The Brenda Scott Academy.
The property is in a great condition, There are three large bedrooms, a full
basement and a large rear garden with a detached garage. The house has
good tenants in place paying $750 in rent each month and is also under
management with a great local Detroit management company.
This house is located in Von Steuben a great area in Detroit with a proud
community feel, this area has great schools and lots of local amenities, it is
near to The University district and is walking distance to The Brenda Scott
Purchase price: 52,900
Gross annual rental income: $9,000
Property running costs: $2,503
(Tax, insurance and management costs)
Net annual rental income: $6,497
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 13%Break even in 7.69 Years