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41622141 - Buy a Townhouse in USA, Michigan, Wayne County, Detroit

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Four bedroom house

Property Information

Type: Townhouse Property ID: 41622141
Location: Detroit, USA Added on: 06 Jan 2022
Price: £56,633

Short Description

This large four bedroom house is a rare find at $76,900..

Key Information

  • Property ID: 41622141
  • Location: Detroit
  • Property Type: Townhouse
  • Prices: £ 56,633 / € 63,069 / $ 76,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This fantastic large two apartment multi family colonial house is located on a very
well kept street in Fitzgerald/Marygrove on the Westside of Detroit, the house is
just five minutes and 1.6 miles to Marygrove College.
The property is split into two spacious two bedroom apartments. Both
apartments have good long term tenants in place that have been paying $625 in
rent each month which is being increased to $750 as of 1st Feb 2022.
This is a fantastic rental property and is under management by a local property
management company.

This house is located in Fitzgerald/Marygrove 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 The University district and is walking distance to The Marygrove College
which was established in 1905.

Investment Calculation

Purchase price: 76,900

Gross annual rental income: $18,000

Property running costs: $3,607
(Tax, insurance and management costs)

Net annual rental income: $14,393

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

Return on investment: 19%

Break even in 5.26 Years

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  • Townhouse
  • 4 bedrooms
  • USA
  • Detroit
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