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Two Bedroom House (ref. 41528910)
Date & Time Listed: 2021-01-28 10:34:17 (GMT)
This fantastic two bedroom house is located on a very well kept street in Ravendale on the Eastside of Detroit, the house is less than five miles from The Ronald Brown Academy. This property has just been refurbished inside throughout, it has two large bedrooms, a large basement and a large rear garden. Also the property has just passed all City inspections. City Certified properties are in very high demand as they are deemed a much more valuable asset particularly in good neighbourhoods. The management company has a tenant moving in paying $700 in rent each month which makes this a fantastic immediate turn key investment.
This property is located in Ravendale which is close to Harper Woods, Eastpointe and the famous East English Village. This area has many great schools and lots of local amenities. Chandler Park one of the largest golf courses in Detroit is only a few blocks away, it is also only 8.2 miles from Downtown Detroit.
Purchase price: 49,900
Gross annual rental income: $8,400
Property running costs: $2,265
(Tax, insurance and management costs)
Net annual rental income: $6,135
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 13%
Break even in 7.69 Years
This property is a Townhouse for sale.
Number of Bedrooms: 2
Number of Bathrooms: 1
Price: 49,900.00 USD
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