This nice three bedroom house is located on a very well kept street in Denby on the Eastside of Detroit, the house is right next to Beacon Elementary School and is four minutes from Denby High School. The tenants are keeping the property in a good condition and are paying $775 rent a month. There are three large bedrooms, a full basement, a sunroom 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: 38,900
Gross annual rental income: $9,300
Property running costs: $2,185
(Tax, insurance and management costs)
Net annual rental income: $7,715
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%