Two bedroom house, Detroit, USA

Detroit, Wayne County, Michigan, USA

Property ID: 41693194

Summary Data

Price £47,472
Price Type
Bedrooms 2 - Bed
Bathrooms 1 - Bath
Plot Size
Building Size
Sector Residential
Type Houses
Subtype
Tenure
Completion
Parking

Location Map

Property Description

This large two bedroom colonial house is located on a very well kept street in
Morningside on the Eastside of Detroit, the house is only one mile to the Ronald
Brown Academy.
The property consists of two large bedrooms with the possibility to convert the attic
into a third bedroom. The house had the roof replaced only 3 years ago and the hot
water heater is only 2 years old. The property has a tenant in place paying $850 in
rent each month who has requested not to be disturbed. Internal pictures will be
taken before closing which is subject to a full inspection.
The property and is under management by a local Detroit property management
company

This house is located in Morningside 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 Chandler Park. The property is just one mile to The Ronald
Brown Academy one of the best schools in Detroit.

Investment Calculations
Purchase price
$55,900
Gross annual rental income:
$10,200
Property running costs:(Tax, insurance and management costs)
$2,990
Net annual rental income:
$7,210
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

13%

Break even in

7.69 Years

No investment data available