Three bedroom house Detroit, Wayne County, Michigan, USA 3 Bed Townhouse £40,431 | €45,026 | $54,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $54,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41606782

This fantastic three bedroom bungalow is located on a very well kept street on the
Eastside of Detroit in Regents Park, the house is also only 1.6 miles and five minutes
from Harper Woods High School.
The property is in a great condition. There are three large bedrooms, a full basement and
a large rear garden with a detached garage. The house has hardwood floors throughout.
The house has good tenants in place paying $800 in rent each month and is under
management with a local Detroit property management company.

This house is very well located on the East side of Detroit. The property is on the outskirts
of Regents Park bordering on Harper Woods. Properties in Harper Woods have
increased dramatically over the last few years and is now beginning to influence pricing
within the bordering areas. With rents almost equivalent to Harper Woods, this is a great
opportunity to pick up a solid property with great capital appreciation potential in the
coming years.

 

Investment Calculation

Purchase price: 54,900

Gross annual rental income: $9,600

Property running costs: $2,019
(Tax, insurance and management costs)

Net annual rental income: $7,581

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

Return on investment: 14%

Break even in 7.14 Years
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