Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This large three bedroom colonial house is located on a very well kept street in Denby on the Eastside of Detroit, the house is only half a mile and just a short walk from Denby High School. The property has been converted and split into two apartments. You have a nice two bedroom apartment downstairs that has a tenant in place that has resided in the house for over six years paying $600 in rent each month. Upstairs you have a nice one bedroom apartment with an independent hot water tank and furnace that has been made rent ready. The management company will place a brand new tenant when the new owner closes on the property paying $400 – $500 in rent each month.

This house is located in Denby a great area in Detroit with a proud community feel, this area has great schools and lots of local amenities, it is right next to East English Village and Morningside. The property is just 0.5 miles and walking distance from Denby High School one of the best schools in Detroit.

 

Investment Calculation


Purchase price: 49,900

Gross annual rental income: $13,200

Property running costs: $2,845
(Tax, insurance and management costs)

Net annual rental income: $10,355

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

Return on investment: 21%

Break even in 4.76 Years

Key Information

Property ID: 41583782
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 3
Bathrooms: 2
Price:
  • £36,749
  • €40,930
  • $49,900
Short Description:

This large three bedroom multi unit is a rare find at $49,900..