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Seven Bedroom House (ref. 30813591)
Date & Time Listed: 2018-04-09 15:16:27 (GMT)
This huge colonial multi-family home is located in Boynton on the Westside of Detroit, just south of Dearborn and only 8.3 miles from Downtown Detroit. This property is divided into two very large apartments, you have a three bedroom apartment downstairs and a four bedroom apartment upstairs, this property comes with a three car detached garage and is on a massive plot of over 11,000 sqft. The four bedroom apartment is currently tenanted and three bedroom apartment is on the market for rentals, this apartment will be occupied before the closing takes place. This is one of the best rental properties to come on the market this year, the total rent is $19,800 a year. This property is under management by a great local company.
This house is located in the popular Boynton area of Detroit which has many good schools and great local amenities. Boynton is close the Riverfront and only a short distance from Downtown Detroit.
Purchase price: $73,900
Gross annual rental income: $19,800
Property running costs: $4,113
(Tax, insurance and management costs)
Net annual rental income: $15,687
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 22%
This property is a Townhouse for sale.
Number of Bedrooms: 7
Number of Bathrooms: 2
Price: 73,900.00 USD
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