This fantastic two apartment multi family home is located in Gratiot-Findlay on the
Eastside of Detroit just 3.5 miles from the Belair Mall which holds host to the
largest cinemas in Detroit. This area is surrounded by great schools and colleges
in Detroit and is less than three miles from Wayne County family Aquatic Centre.
The property is divided into two large two bedroom apartments, you have a large
two bedroom apartment downstairs and a large two bedroom apartment
upstairs. The apartment downstairs has a tenant in place paying $775 in rent
each month. The upstairs apartment has just been updated and made rental
ready and has a brand new tenant moving in on 1st July also paying $775 in rent
This house is located in a great area in Gratiot-Findlay on the Eastside of Detroit
with a proud community feel, this area has great schools and lots of local
amenities, it is near to The University district and is less than three miles from
Wayne County family Aquatic Centre.
Purchase price: 79,900
Gross annual rental income: $18,600
Property running costs: $3,480
(Tax, insurance and management costs)
Net annual rental income: $15,120
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years