This huge multi-family colonial house is located in Joseph Tierman on the Westside of Detroit, the property is less than five miles from Downtown Detroit. This fantastic house is made up of four large two bedroom apartments, the total rental income per year on this property is $19,200. This property is exclusive to Global Investments and is under management by one of the leading Detroit management companies.
Joseph Tierman is in high demand at the moment due to its close proximity to Downtown and Midtown, this property is close to everything, the Stadium, the Casino, the University, Commercial Park and the new metro rail link, if you want to buy in the heart of the action this is the perfect property.
Purchase price: 79,900
Gross annual rental income: $19,200
Property running costs: $4,007
(Tax, insurance and management costs)
Net annual rental income: $15,193
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%