41642732 - Buy a Townhouse in USA, Michigan, Wayne County, Detroit

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Three bedroom house

Property Information

Type: Townhouse Property ID: 41642732
Location: Detroit, USA Added on: 14 Jul 2022
Price: £61,908

Short Description

This large three bedroom house is a rare find at $72,900..

Key Information

  • Property ID: 41642732
  • Location: Detroit
  • Property Type: Townhouse
  • Prices: £ 61,908 / € 70,722 / $ 72,900
  • Detatched
  • Garden
  • Off Street Parking
  • Outside Space

Full Description

This large three bedroom colonial house is located on a very well kept street on
the Westside of Detroit, the house is just 2.5 miles from the famous Grandmont
Rosedale and right next to Belmont.
This property is in a great condition and has three large bedrooms, one
bathrooms, a large basement and a large rear garden. The property has just been
made rental ready to a Section 8 standard. The management company will place
brand new tenants when the new owner closes on the property. The tenants can
either be Section 8 housing or private, the decision will be for the new owner. The
house should achieve $1,200 in rent each month.

This property is located on the desirable westside of Detroit, the house is just a
few streets away from Belmont and only 2.5 miles from Grandmont Rosedale. It is
also very close to the University District so it is surrounded by some of the best
areas in Detroit.

Investment Calculation

Purchase price: 72,900

Gross annual rental income: $14,400

Property running costs: $3,121
(Tax, insurance and management costs)

Net annual rental income: $11,279

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

Return on investment: 16%

Break even in 6.25 Years

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Property Alerts

  • Townhouse
  • 3 bedrooms
  • USA
  • Detroit
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