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Three Bedroom House (ref. 41581404)
Date & Time Listed: 2021-03-29 10:44:34 (GMT)

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1
Posted From: United States, Michigan, Wayne


Ad Details:

This large three bedroom brick built house is located on a very well kept street Fitzgerald on the Eastside of Detroit, the house is less than a mile and walking distance to John J Pershing High School. There are three large bedrooms, one bathroom, a full basement and a nice garden. The property has just been completely refurbished inside to a very high Section 8 standard. A brand new Section 8 tenant will be placed before the new owner closes on the property paying $1,200 in rent each month. The rent is paid direct to the owner via the City of Detroit making this a great turn key investment in a location where property prices are steadily increasing year after year. This is a fantastic rental property and is under management by a local property management company.
This house is located on the boarders of Fitzgerald a great area in Detroit with a proud community feel, this area has great schools and lots of local amenities, it is right next to The University district and is walking distance to John J Pershing High School, there are many good schools in this area.
Investment Calculation
Purchase price: 69,900
Gross annual rental income: $14,400
Property running costs: $2,683
(Tax, insurance and management costs)
Net annual rental income: $11,717
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 17%
Break even in 5.8 Years
This property is a Townhouse for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 69,900.00 USD




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