Two bedroom house, Detroit, USA

Detroit, Wayne County, Michigan, USA

Property ID: 41694634

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 large two bedroom house is located on a very well kept street in Greenfield on
the Westside of Detroit, the house is just 1.4 miles and only five minutes from Wayne
County Community College
The property has two large bedrooms, one bathroom, a large kitchen diner, a large
basement and a rear garden.
There are tenants in place paying $850 in rent each month, the tenants are Section
8 so the rent is paid each month by the City of Detroit. The property is also under
management with a great local Detroit management company.

Greenfield is a great area right next to Grandmont Rosedale on the Westside of
Detroit. Grandmont Rosedale is viewed as one of the best areas in Detroit and has
its own Development Corporation who take care of the local parks, tree- lined
streets and local shopping area. Greenfield is also on the boarder of Southfield and
Oak Park, both are B+ suburbs of Detroit.

Investment Calculations
Purchase price
$66,900
Gross annual rental income:
$10,200
Property running costs:(Tax, insurance and management costs)
$2,745
Net annual rental income:
$7,455
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

12%

Break even in

8.3 Years.

No investment data available