Three bedroom house Detroit, Wayne County, Michigan, USA 3 Bed Townhouse £58,842 | €65,529 | $79,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $79,900..

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Property Attributes

Building Characteristics


Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41599115

This large three bedroom colonial house is located in Schulze, just one
street away from the highly demanded area of Bagley, it is also just a three
minute walk away from Mumford High School.
The property already has tenants in place keeping the house in a great
condition paying $850 in rent each month but there is the possibility to
increase the rent in the future to $1,100 a month, this is the average rent for
a three bed property this area. The property has three large bedrooms, two
bathrooms, a large basement and a large rear garden.
This is a fantastic rental property and is under management by a local
property management company.

This property is very well located, the area is called Schulze which is just
south of the University District and only .5 miles from Bagley. It is also close
to Palmer Woods and the famous Gold Detroit Club.


Investment Calculation

Purchase price: 79,900

Gross annual rental income: $10,200

Property running costs: $3,248
(Tax, insurance and management costs)

Net annual rental income: $6,772

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 9%

Break even in 11.1 Years
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