This large five bedroom colonial house is located on a very well kept street in Denby on the Eastside of Detroit, the house is only two miles and six minutes from Denby High School. The tenants are keeping the property in a great condition and are paying $850 rent a month. There are five large bedrooms, a full basement, wooden flooring and a large rear garden. This is a fantastic rental property and is under management by a local property management company.
This house is located in Denby a great area in Detroit with a proud community feel, this area has great schools and lots of local amenities, it is right next to East English Village and Morningside. The property is just 2 miles and six minutes from Denby High School one of the best schools in Detroit.
Purchase price: 41,900
Gross annual rental income: $10,200
Property running costs: $2,420
(Tax, insurance and management costs)
Net annual rental income: $7,780
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%