Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This huge property is split into four very large apartments. You have three large two bedroom apartments and one large one bedroom apartment, all four of the apartments are currently tenant occupied. There is also $3,000 included in the purchase price for some updates due to the size of the property. With low taxes and a large income stream this is one of the best investment properties on the market today. This house is under management by one of the leading Detroit property management companies.This property is located in Petosky-Otsego which has now come under the radar as a hot investment spot, anywhere in close proximity to the New Center is seen as an excellent investment opportunity. The New Center has the new metro rail-link, shops and restaurants the Detroit Institute of Arts and leads to Midtown where you have the Casino, Wayne Community College and the Stadium. This immediate area is where all of the large scale investment is taking place.

 

Investment Details

 

$21,000 rent a year.
$2,100 management fee.
$1,198 taxes.
$1,000 insurance.
= 30% net return.

Key Information

Property ID: 23683699
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 7
Bathrooms: 4
Price:
  • £43,762
  • €47,700
  • $56,000
Short Description:

This huge multi unit brick house is split into four apartments with a rental income of $21,000