Three bedroom house City of Detroit, Wayne County, Michigan, USA 3 Bed Townhouse £35,276 | €39,285 | $47,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $47,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41611155

This large three bedroom house is located next to Grandmont and Grandale on the
Westside of Detroit, this area is just north of Dearborn which is one of the best areas in
Detroit.
The property consists of Three bedrooms, one bathroom, a large lounge diner, a full
basement and a large rear garden. The property is just being refurbished inside
throughout and made rental ready to a good standard which includes a new roof. The
management company will be placing brand new tenants when the new owner closes on
the property paying $850 – $900 each month in rent.
This is a fantastic rental property and is under management by a local property
management company.

This property is very well located on the Westside of Detroit which is just north of
Dearborn and only 1 mile and just a five minute drive from the centre of Grandmont
Rosedale. It is also close to Rosedale Park, Belmont and Redford, all of which are very
desirable areas on the Westside of Detroit.

Investment Calculation

Purchase price: 47,900

Gross annual rental income: $10,800

Property running costs: $2,280
(Tax, insurance and management costs)

Net annual rental income: $8,520

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 18%

Break even in 5.5 Years
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