Two bedroom house, Detroit, USA
Detroit, Wayne County, Michigan, USA
Property ID: 41596171
Summary Data
Price | £31,336 |
Price Type | |
Bedrooms | Studio |
Bathrooms | 1 - Bath |
Plot Size | |
Building Size |
Sector | Residential |
Type | Houses |
Subtype | Townhouse |
Tenure | |
Completion | |
Parking |
Location Map
Property Description
This two bedroom house is located in Oakman Blvd on the Westside of Detroit, just 14 minutes from the Downtown Detroit and next to the famous Boston Edison Historic District. The property is in a great condition and comes with a new furnace, it has two large bedrooms, one bathroom and a full basement. There are good tenants in place paying $650 in rent each month. The property is under management with a great local Detroit management company.
This property is located in Oakman Boulevard which is only 3 miles from the University District and only 2.2 miles from the famous Boston Edison Historic District.
Investment Calculation
Purchase price: 36,900
Gross annual rental income: $7,800
Property running costs: $1,965
(Tax, insurance and management costs)
Net annual rental income: $5,835
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years