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Six Bedroom House (ref. 41581409)
Date & Time Listed: 2021-04-01 10:43:39 (GMT)
This large multi-family house is well located in Grand River on the Westside of Detroit, just north of Aviation Sub. The property is made up of two large three bedroom apartments and has just undergone a refurbishment. The work has been done to a Section 8 standard and the management company will be placing two Section 8 tenants before you close on the property, each tenant will be paying $1,100 rent per month. This property is managed by a great local property management company.
The property is located next to Aviation Sub which is seen as one of the best neighbourhoods in Detroit, it was one of the first exclusive subdivisions built outside the city of Detroit. Grand River is also next to Dearborn which is also viewed as one of the top areas in Detroit.
Purchase price: 109,900
Gross annual rental income: $26,400
Property running costs: $4,186
(Tax, insurance and management costs)
Net annual rental income: $22,214
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 21%
Break even in 4.76 Years
This property is a Townhouse for sale.
Number of Bedrooms: 6
Number of Bathrooms: 2
Price: 10,900.00 USD
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