This large three bedroom colonial house is located on a very well kept street in Denby on the Eastside of Detroit, the house is right next to Wayne Elementary School and five minutes from Denby High School. There are long term tenants in place and they are paying $800 rent a month. There are three large bedrooms, a full basement, a detached garage and a large rear garden. This is a fantastic rental property and is under management by a local property management company.
This house is located in Denby 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 Morningside.
Purchase price: 41,900
Gross annual rental income: $9,600
Property running costs: $2,507
(Tax, insurance and management costs)
Net annual rental income: $7,093
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%