Two bedroom house, Detroit, USA

This large two bedroom colonial house is located on a very well kept street in
Cornerstone Village on the Eastside of Detroit, the house is only three minutes and
walking distance to East English village preparatory academy.
The property consists of two large bedrooms, one bathroom, a large kitchen and
lounge/diner, a full finished basement and a large rear garden with a detached
garage. The house has just been updated and refurbished to a Section 8 standard.
The management company will place brand new tenants when the new owner
closes on the property paying $800 – $900 in rent each month. The tenants can
either be Section 8 housing or private, the decision will be for the new owner.

This house is located in Cornerstone Village, 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 & Harper Woods. The property is just half a mile and walking
distance to East English village preparatory academy, a college that is recognised
for a tradition of excellence in academics.

Investment Calculation

Purchase price: $59,900

Gross annual rental income: $10,800

Property running costs: $2,209
(Tax, insurance and management costs)

Net annual rental income: $8,591

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

Return on investment: 15%