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Three Bedroom House (ref. 30220034)
Date & Time Listed: 2018-02-12 12:57:53 (GMT)
This large three bedroom house is located in Riverdale on the Westside of Detroit, this area is just north of Brightmoor and right next to Old Redford, one of the best areas in Detroit. This property was recently updated before the placement of new tenants, the tenants are keeping the property in a great condition and are paying $700 rent a month. There are three large bedrooms, a full basement, a detached garage, a converted loft space and a huge 7,405 sqft lot. This is a fantastic rental property and is under management by one of the leading Detroit property management companies.
This property is located in Riverdale, which is next to Eliza Howell and close to the famous Rouge Park Golf course. This area is also close to Brightmoor, Rosedale Park and Grandmont Rosedale, all of which are seen as some of the best areas in Detroit.
Purchase price: $33,900
Gross annual rental income: $8,400
Property running costs: $2,897
(Tax, insurance and management costs)
Net annual rental income: $5,503
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
This property is a Townhouse for sale.
Number of Bedrooms: 3
Number of Bathrooms: 1
Price: 33,900.00 USD
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