This three bedroom house is located in Grant on the Eastside of Detroit just six
minutes from the Belair Mall which holds host to the largest cinemas in Detroit.
This property has three large bedrooms, one and a half bathrooms, a large
basement and a large rear garden. The house has a good tenant in place
paying $650 in rent each month. The tenant is Section 8 housing so the rent is
paid direct to the landlord Via the City of Detroit.
The house is under management with a great local Detroit management
This house is located in Grant. A great area in Detroit with a proud community
feel, this area has great schools and lots of local amenities, it is near to The
University district and is just six minutes from the Belair Mall which holds host to
the largest cinemas in Detroit.
Purchase price: 55,900
Gross annual rental income: $7,800
Property running costs: $2,330
(Tax, insurance and management costs)
Net annual rental income: $5,470
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 10%Break even in 10 Years