This three bedroom house is located in Denby and is only 1.7 miles from East English Village Preparatory Academy which is one of the best schools in Detroit. This property is also very close to Denby High School and Harper Woods High School so it is ideally located for long term rentals. 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, a detached garage and a large rear garden. This is a fantastic rental property and is under management by a great local 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: $9,000
Property running costs: $2,572
(Tax, insurance and management costs)
Net annual rental income: $6,472
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%