This large multi-family home is located in Petosky-Otsego just 3.6 miles from the
Midtown Detroit and less than five minutes from the historic Boston Edison.
The property is made up of two large two bedroom apartments and will be delivered
vacant, the seller will be providing the house rental ready.
The management company will place brand new tenants when the new owner closes on
the property, the house should achieve $18,000 – $19,200 in rent each month
This property is located in Petosky-Otsego which is a great area in Detroit with many
large colonial properties and right on the border of Boston Edison. It is also only a few
miles from the University District where you will find some of the most expensive real
estate in Detroit.
Purchase price: 84,900
Gross annual rental income: $19,200
Property running costs: $3,458
(Tax, insurance and management costs)
Net annual rental income: $15,742
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years