This nice three bedroom house is located on a very well kept street in Mapleridge on the Eastside of Detroit, the house is right next to Denby High School. The property has been recently updated and the new tenants are keeping the property in a great condition, the tenants are paying $800 rent a month. There are three large bedrooms, a full basement, a dining room 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: $9,600
Property running costs: $2,220
(Tax, insurance and management costs)
Net annual rental income: $7,380
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%