This very nice large colonial three bedroom house is located on a well kept street in
Crary-St.Marys on the Westside of Detroit, this property is within walking distance of
Wayne Community College, one of the best colleges in Detroit, Crary-St. Marys is
surrounded by some of the best neighbourhoods in Detroit.
This property has three large bedrooms, one bathroom, a large basement and a
large rear garden, it also comes with tenants in place. The market rent is currently
closer to $1,000 – $1,200 in this area so should the tenant leave the rent could be
increased. The house is under management with a great local Detroit property
management company.
This property is located in Crary-St. Marys, part of the District 1 Community on the
Westside of Detroit, District 1 covers some of the best areas in Detroit including
Brightmoor, Castle Rouge, Old Redford, Riverdale, Berg-Lahser, Grandmont #1,
Grandmont Community, Rosedale Park, North Rosedale Park.
Investment Calculations
Gross annual rental income:
$9,600
Property running costs:(Tax, insurance and management costs)
$3,460
Net annual rental income:
$6,140
Investment calculation - Net Income divided by Purchase price = NET ROI.