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
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.
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