Three bedroom house, Detroit, USA
Detroit, Wayne County, Michigan, USA
Property ID: 41539845
|Bathrooms||1 - Bath|
This very nice three bedroom house is located on a very well kept street in- between Franklin Park, Grandale and Grantmont on the Westside of Detroit, just north of Dearborn. This property has three large bedrooms, one and a half bathrooms, a large basement, a detached garage and a large rear garden. The property now has Section 8 tenants in place. The rent of $800 each month is paid direct to the landlord via the US Government. The property is also under management with aigret local Detroit management company.
This property is located in-between Franklin Park, Grandale and Grandmont on the West side of Detroit. The house is only five minutes and 1.5 miles to the famous Rouge Park golf course. The property is also close to the University of Michigan and the Henry Ford College of Dearborn, this is the perfect area for long term renting.
Purchase price: 49,900
Gross annual rental income: $9,600
Property running costs: $2,450
(Tax, insurance and management costs)
Net annual rental income: $7,150
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 15%
Break even in 6.6 Years