Three bedroom house Detroit, Wayne County, Michigan, USA 3 Bed Townhouse £41,167 | €45,846 | $55,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $55,900..

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Property Attributes

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41602231

This large three bedroom colonial house is located on a very well kept street right
next to Morningside on the Eastside of Detroit, the house is only three minutes to
the Ronald Brown Academy.
The property already has tenants in place keeping in great condition paying $800 in
rent each month. The property has three large bedrooms, one bathroom, a large
basement 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 next to Morningside, 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 Chandler Park. The property is just three minutes to
The Ronald Brown Academy one of the best schools in Detroit.

Investment Calculation

Purchase price: 55,900

Gross annual rental income: $9,600

Property running costs: $2,420
(Tax, insurance and management costs)

Net annual rental income: $7,180

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

Return on investment: 13%

Break even in 7.69 Years
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