Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This large multi-tenanted property is made up of one large two bedroom apartment downstairs and one large one bedroom apartment upstairs. This property is located on one of the best streets in Detroit for rentals, we have sold similar properties on this street for over $50,000. This property has been refurbished throughout and has a long term tenant in place in the lower unit, the upper unit is on the market and they are already screening tenants for immediate placement. This is one of the best rental properties on the market in Detroit today and is under management by one of the leading Detroit property management companies.This property is very well located on a busy street in East Park Manor, many investors see this area as one of the best areas to invest due to its close proximity to Eastpointe, East English Village and Harper Woods, many large corporations have chosen this area as their base and you are surrounded by some of the best schools and colleges in Detroit.

 

Investment Details

 

$12,300 rent a year.
$1,230 management fee.
$2,390 taxes.
$700 insurance.
= 21% net return.

Key Information

Property ID: 24023362
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 3
Bathrooms: 2
Price:
  • £29,248
  • €32,030
  • $37,900
Short Description:

This three bedroom multi unit house is a great deal at $37,900 and with a high net return.