Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This three bedroom brick built house is located in the highly sought after area of Fiskhorn, This is a quiet respectable area which has a great community feel and is right next to Dearborn and Aviation Hub which are two of the best neighbourhoods in Detroit. The property has three large bedrooms, one bathroom and a large basement and was recently inspected and has passed the City Certification process. City Certified properties are in very high demand as they are deemed a much more valuable asset particularly in good neighbourhoods. The property has just been refurbished and comes with a six month maintenance warranty. The house also has new Section 8 tenants in place paying $800 in rent each month. The rent is paid direct to the landlord via the US Government.

Fiskhorn is a quiet respectable area which has a great community feel and is right next to Dearborn and Aviation Hub which are two of the best neighbourhoods in Detroit. Aviation hub was one of the first exclusive subdivisions built outside the city of Detroit.

Investment Calculation


Purchase price: 54,900

Gross annual rental income: $9,600

Property running costs: $2,141
(Tax, insurance and management costs)

Net annual rental income: $7,459

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return on investment: 14%

Break even in 7.14 Years

Key Information

Property ID: 41295189
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 3
Bathrooms: 1
Price:
  • £42,902
  • €46,760
  • $54,900
Short Description:

This large three bedroom house is a rare find at $54,900..