Four bedroom house City of Detroit, Wayne County, Michigan, USA 4 Bed Townhouse £61,788 | €68,810 | $83,900 Request a Currency Exchange Quote Here

This large four bedroom house is a rare find at $83,900..

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Property Attributes

Building Characteristics

Detatched

Property Features

Garden, Off Street Parking, Outside Space
Property Description ID:41607806

This fantastic large four bedroom colonial house is located on a very well kept
street in the Bethune Community on the North West side of Detroit, the house is
less than ten minutes from the University of Detroit.
The property consists of four large bedrooms, two bathrooms and a large
basement. The house has been completely refurbished to a Section 8 standard
and now has a brand new Section 8 tenant in place paying $1,222 in rent each
month.
This is a fantastic rental property and is under management by a local property
management company.

This house is located in the Bethune Community a great area in Detroit with a
proud community feel, this area has great schools and lots of local amenities, it is
less than ten minutes from the University of Detroit and just five minutes from
Renaissance High School.

 

Investment Calculation

Purchase price: 83,900

Gross annual rental income: $14,664

Property running costs: $2,856
(Tax, insurance and management costs)

Net annual rental income: $11,808

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

Return on investment: 15%

Break even in 6.6 Years
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