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41699727 - Buy a House in USA, Michigan, Wayne County, Detroit

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Three bedroom house

Property Information

Type: House Property ID: 41699727
Location: Detroit, USA Added on: 18 Dec 2023
Price: £61,059

Short Description

This three bedroom is amazing value at $71,900..

Key Information

  • Property ID: 41699727
  • Location: Detroit
  • Property Type: House
  • Prices: £ 61,059 / € 69,752 / $ 71,900

Full Description

This three bedroom house is located on a very well kept street in Mapleridge on the
Eastside of Detroit, the house is only half a mile and just a short walk from Denby High
School

This property consists of three large bedrooms, Two bathrooms, a lounge diner, a full
basement and a large rear garden with a detached garage.. The house has section 8
tenants in place paying $1,100 per month, this rent is paid directly to the landlord by the
City of Detroit.
This house is located in Mapleridge 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 Morningside. The property is just 0.3 miles and walking distance from Denby High
School one of the best schools in Detroit.

Investment Calculations
Purchase price
$71,900
Gross annual rental income:
$13,200
Property running costs:(Tax, insurance and management costs)
$3,178
Net annual rental income:
$10,022
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

14%

Break even in

7.14 Years.

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