Three bedroom house Detroit, Wayne County, Michigan, USA 3 Bed Townhouse £61,051 | €67,990 | $82,900 Request a Currency Exchange Quote Here

This large three bedroom house is a rare find at $82,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41608541

This three bedroom brick built house is located in Barton-McFarland, a sought after right
next to Aviation Sub. This is a quiet respectable area next to Dearborn and has a great
community feel.
The property has three large bedrooms, two bathrooms and a full basement. The house
has been completely refurbished throughout to a good Section 8 standard. The property
has a new Section 8 tenant in place paying $1,200 in rent each month. The rent is paid
direct to the landlord via the City of Detroit.
The house is under management with a great local Detroit property management
company.

Barton-McFarlandeen is a great neighbourhood in Detroit. This area is next to Aviation Sub
and Dearborn which are viewed as two of the top areas in Detroit. Many residents of
Dearborn have re-located to Aviation Sub and Barton-McFarland due to its exclusive
appeal. The house is also just 5 miles from the University of Detroit.

 

Investment Calculation

Purchase price: 82,900

Gross annual rental income: $14,400

Property running costs: $2,990
(Tax, insurance and management costs)

Net annual rental income: $11,410

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

Return on investment: 14%

Break even in 7.14 Years
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