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41616375 - Buy a Townhouse in USA, Michigan, Wayne County, Detroit

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Five bedroom house

Property Information

Type: Townhouse Property ID: 41616375
Location: Detroit, USA Added on: 17 Nov 2021
Price: £77,253

Short Description

This large five bedroom house is amazing value at $104,900..

Key Information

  • Property ID: 41616375
  • Location: Detroit
  • Property Type: Townhouse
  • Prices: £ 77,253 / € 86,033 / $ 104,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This fantastic large five bedroom single family home is located on the Eastside of Detroit
just five minutes and just two miles from Chandler Park, a 220 acre conservation area.
The property has five large bedrooms, two bathrooms, a full basement and a large rear
garden. The house has just been fully refurbished to a great Section 8 ental ready
standard. The management company will place brand new tenants when the new owner
closes on the property. The tenants can either be private or Section 8. A large five
bedroom single family home should achieve between $2,000 – $2,200 in rent each
month.

This house is located on the East side of Detroit near to Chandler Park. The Chandler
Park Healthy Neighbourhood Strategy was awarded one of only 11 Build Health
Challenge Planning Grants to develop the area. Many properties have now been
removed and the area is being redeveloped which has included a swimming pool,
artificial turf football and soccer field, tennis courts, a formal flower garden, a community
food garden and paths for biking and walking.

Investment Calculation

Purchase price: 104,900

Gross annual rental income: $26,400

Property running costs: $4,440
(Tax, insurance and management costs)

Net annual rental income: $21,960

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 21%

Break even in 4.76 Years

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Property Alerts

  • Townhouse
  • 5 bedrooms
  • USA
  • Detroit
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