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Three Bedroom House (ref. 41608699)
Date & Time Listed: 2021-10-14 10:53:29 (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 colonial house is located on a very well kept street right
next to Morningside on the Eastside of Detroit, the house is only two minutes to the
Ronald Brown Academy.
The property has three large bedrooms, one bathroom, a large basement and a
veery nice large rear garden. The house will be provided to the new owner vacant
and will be made rental ready.
The management company will place brand new tenants paying $850 – $900 in rent
each month in each apartment.
This house is located next to Morningside, 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 East English Village and Chandler Park. The property is just two minutes to
The Ronald Brown Academy one of the best schools in Detroit.
Investment Calculation
Purchase price: 55,900
Gross annual rental income: $10,800
Property running costs: $2,015
(Tax, insurance and management costs)
Net annual rental income: $8,785
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 16%
Break even in 6.25 Years
This property is a Townhouse for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 55,900.00 USD




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