Two bedroom house, Detroit, USA

Detroit, Wayne County, Michigan, USA

Property ID: 41694619

Summary Data

Price £56,813
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 fantastic large two apartment multi family house is located on a very well kept street
just North of Fitzgerald?Marygrove on the Eastside of Detroit, the house is just one mile
and walking distance to Marygrove College.
The property is in a great condition and consists of two large bedrooms, a full basement
and a large rear garden. The property has tenants in place paying $786 in rent each
month. The tenants are Section 8 shooing so the rent is paid direct to the landlord via the
City of Detroit. The tenant has actually requested a rent increase to $900 each month,
although not guaranteed the increase is very likely to be agreed. The property is under
management with a great local Detroit property management company.

This house is located just North of Fitzgerald/Marygrove, a great area in Detroit with a
proud community feel, this area has great schools and lots of local amenities, it is
walking distance to The University district and Bagley, two of the best neighbourhoods in
Detroit and is also walking distance to The Marygrove College which was established in
1905.

Investment Calculations
Purchase price
$66,900
Gross annual rental income:
$9,432
Property running costs:(Tax, insurance and management costs)
$2,799
Net annual rental income:
$6,633
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

10%

Break even in

10 Years.

No investment data available