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Four Bedroom House (ref. 41579648)
Date & Time Listed: 2021-03-25 10:46:21 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 4, Number of Bathrooms: 2
Posted From: United States, Michigan, Wayne


Ad Details:

This fantastic two apartment multi family home is located in the highly sought after area of Aviation Sub, properties in this area have increased in value consistently. This is a quiet respectable area next to Dearborn and has a great community feel. This property is split into two very large two bedroom apartments which have just been updated throughout, the updates include brand new windows throughout, new kitchens, updated bathrooms and a finished sealed basement. The management company will place brand new tenants in each apartment when the new owner closes on the property paying $850 in rent per month. The tenants will also be Section 8 housing so the rent will be paid direct to the landlord via the US Government.
Aviation Sub is seen as one of the best neighbourhoods in Detroit, it was one of the first exclusive subdivisions built outside the city of Detroit. This area is next to Dearborn which is also viewed as one of the top areas in Detroit. Many residents of Dearborn have re- located to Aviation Sub due to its exclusive appeal.
Investment Calculation
Purchase price: 94,900
Gross annual rental income: $20,400
Property running costs: $3,999
(Tax, insurance and management costs)
Net annual rental income: $16,401
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years
This property is a Townhouse for sale.

Other Details:

Number of Bedrooms: 4
Number of Bathrooms: 2

Price: 94,900.00 USD




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