Three bedroom house, Detroit, USA
Detroit, Wayne County, Michigan, USA
Property ID: 41640149
Summary Data
| Price | £48,321 |
| 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 nice three bedroom colonial house is located on a very well kept street in
Moross-Morang on the Eastside of Detroit, the house is only a shirt walk Denby
High School.
The property consists of three large bedrooms, one bathroom, a large kitchen
and lounge/diner, a full basement and a large rear garden with a detached
garage. The house has a tenant in place paying $800 in rent each month.
The property is under management with a great local Detroit property
management company
This house is located in Moross-Morang, 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 Denby and Cornerstone Village. The property is just 0.8 miles and 3
minutes from Denby High School one of the best schools in Detroit.
Investment Calculation
Purchase price: 56,900
Gross annual rental income: $9,600
Property running costs: $2,397
(Tax, insurance and management costs)
Net annual rental income: $7,203
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 13%
Break even in 7.69 Years