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Three Bedroom House (ref. 28307346)
Date & Time Listed: 2017-07-13 11:18:47 (GMT)
This large three bedroom house is located in Log Cabin Park, close to the famous Woodward Avenue and only four miles from the New Center. This property has three very large bedrooms, a full basement and a very large rear garden, it also comes on a very large plot. This property is Section 8 approved and has great Section 8 tenants in place paying $750 a month, this rent is paid by the US Government. This property is under management by one of the leading Detroit property management companies and it will sell very quickly.
Log Cabin Park is very centrally located, it is very close to the University District and Palmer Park and it is only a few miles from the New Center. The New Center is the heart of Detroit where you will find the new rail link, the stadium, the casino, plus many restaurants and designer boutiques.
Purchase price: $34,500
Gross annual rental income: $9,000
Property running costs: $2,488
(Tax, insurance and management costs)
Net annual rental income: $6,512
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
This property is a Townhouse for sale.
Number of Bedrooms: 3
Number of Bathrooms: 1
Price: 34,500.00 USD
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