This large three bedroom house is located on a very well kept street in Inkster Wayne County, Inkster City is a sought after location twenty miles from Downtown Detroit. Properties located in the Greater Detroit suburbs are usually more expensive due to their quite location and ease of access to Downtown. This property is in a good condition and has three large bedrooms, a large basement and a large rear garden. The property also comes with a $3,000 refurbishment included in the purchase price, you will paid one months rent while the work is taking place and the new tenants are being placed.
Inkster is a small city with a population of just over 25,000, the city has many great schools and a local town centre. This type of location is becoming very popular with investors due to the quiet community feel but still also within close proximity to Downtown Detroit.
Purchase price: 39,900
Gross annual rental income: $9,450
Property running costs: $3,375
(Tax, insurance and management costs)
Net annual rental income: $6,075
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 15%