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

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41623403

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
company.

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.

 

Investment Calculation

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
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