This large three bedroom colonial house is located on a very well kept street in Denby on the Eastside of Detroit, the house is only a few streets away Denby High School. The tenants are keeping the property in a great condition and are paying $750 rent a month. There are three large bedrooms, a full basement, wooden flooring and a large rear garden with a detached garage. 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: 36,900
Gross annual rental income: $9,000
Property running costs: $2,430
(Tax, insurance and management costs)
Net annual rental income: $6,570
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%