Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This very large four bedroom house is located on our most demanded road in Detroit, Balfour Road in Morningside.The property has been recently updated with new carpets and paint, a full basement, updated kitchen and updated bathroom. There is a new tenant in place who just signed their lease in January this year, they are paying $850 a month.This property is under management by one of the leading Detroit property management companies.Morningside is our most demanded area by investors due to its close proximity to Downtown Detroit and the rentability of the properties. There are two sides to Balfour Road, the Denby side and Morningside, properties on the Morningside of Balfour Road rarely come on the market and are seen as the better investment.

 

Investment Details

 

$10,200 rent a year.
$1,020 management fee.
$1,075 taxes.
$500 insurance.
= 24% net return.

Key Information

Property ID: 23861158
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 1
Price:
  • £24,649
  • €28,790
  • $32,000
Short Description:

This four bedroom brick house is great value at $32,000 and with a rental income of $10,200 per year.