This fantastic four bedroom house is located in Inkster, close to Dearborn which is one of the best areas in Detroit. There are four bedrooms, one bathroom, a full basement and a nice garden. The property has just been completely refurbished inside to a very high Section 8 standard. A brand new Section 8 tenant will be placed before the new owner closes on the property paying $1,600 in rent each month. The rent is paid direct to the owner via the City of Detroit making this a great turn key investment in a location where property prices are steadily increasing year after year. This is a fantastic rental property and is under management by a local property management company.
This property is located in Inkster which is on the West Side of Detroit, just South of Dearborn. The house is extremely well located and is just Five miles and less than Fifteen minutes from Detroit Wayne Country International Airport.
Purchase price: 86,900
Gross annual rental income: $19,200
Property running costs: $3,670
(Tax, insurance and management costs)
Net annual rental income: $15,530
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years