Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This huge multi-tenanted property is made up of four separate apartments, you have two large one bedroom apartments and two large two bedroom apartments.Three of the apartments are tenant occupied and the fourth one is on the market for rentals. This property has some recent updates including new hot water tanks that were replaced in 2015, new windows in 2005, new furnaces in 2005, new roof in 2003. This property is currently under management by one of the leading Detroit property management companies.This property is located in Mc Millans & Whiting which borders Mexicantown, this area is only 3 miles from the centre of downtown Detroit and 2.5 miles to Comerica Park, the home of the Tigers.

 

Investment Details

 

$24,000 rent a year.
$2,400 management fee.
$607 taxes.
$1,000 insurance.
= 27% net return.

Key Information

Property ID: 24071423
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 6
Bathrooms: 4
Price:
  • £61,111
  • €66,980
  • $75,000
Short Description:

This huge six bedroom house is a rare find at only $75,000 and with a high net of 27%.