Three bedroom house, Detroit, USA
Detroit, Wayne County, Michigan, USA
Property ID: 41686492
Summary Data
Price | £55,115 |
Price Type | |
Bedrooms | 3 - Bed |
Bathrooms | 1 - Bath |
Plot Size | 778m2 |
Building Size |
Sector | Residential |
Type | Houses |
Subtype | |
Tenure | |
Completion | |
Parking |
Location Map
Property Description
This great three bedroom brick built single family home is located in Fiskhorn, a sought
after right next to Aviation Sub. This is a quiet respectable area just North of Dearborn
and has a great community feel.
The property has three large bedrooms, one bathroom and a full basemen and a large
side and rear garden. The house is currently being updated to a Section 8 standard, once
the new Owner closes on the property the management company will place Section 8
tenants, the rent amount will be around $1,000 a month or even more.
The house is under management with a great local Detroit property management
company.
Fiskhorn is a great neighbourhood in Detroit. This area is next to Aviation Sub and
Dearborn which are viewed as two of the top areas in Detroit. Many residents of Dearborn
have re-located to Aviation Sub and Fiskhorn due to its exclusive appeal. The house is
also just 10 minutes from Wayne County community college and the University of Detroit.
Investment Calculation
Purchase price: $64,900
Gross annual rental income: $12,000
Property running costs: $2,687
(Tax, insurance and management costs)
Net annual rental income: $9,313
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 15%
Break even in 6.6 Years