Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This four bedroom house is located next to Krainz Woods on the Eastside of Detroit just six minutes from the Belair Mall which holds host to the largest cinemas in Detroit. This area is surrounded by great schools and colleges in Detroit and is less than four minutes from John Pershing High School. This property has just been refurbished inside throughout to a very good Section 8 standard, it has four large bedrooms, a large basement and a large rear garden. The management company has a Section 8 tenant ready to move in paying $1,600 in rent each month which makes this a fantastic immediate turn key investment. The tenant will be living in the property before the new owner closes on the property.

This house is located next to Krainz Woods on the Eastside of Detroit, 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 The University district and close to John Pershing High School. The house also is just six minutes from the Belair Mall which holds host to the largest cinemas in Detroit.

 

Investment Calculation


Purchase price: 91,900

Gross annual rental income: $19,200

Property running costs: $3,674
(Tax, insurance and management costs)

Net annual rental income: $15,526

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

Return on investment: 17%

Break even in 5.8 Years

Key Information

Property ID: 41592906
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 4
Bathrooms: 1
Price:
  • £67,679
  • €75,370
  • $91,900
Short Description:

This large four bedroom house is a rare find at $91,900..