Three Bedroom House (ref. 41696647) - Houses for Sale, Real Estate - Number of Bedrooms: 3, Number of Bathrooms: 1 - Wayne, Michigan, United States

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Three Bedroom House (ref. 41696647)
Date & Time Listed: 2024-03-04 20:53:45 (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 fantastic three bedroom brick house is located on a very well kept street on
the Eastside of Detroit in Moross-Morang, the house is also just .6 miles from
Denby High School. It is also only two miles from the affluent area of Gross
Pointe where you will find some of Detroits most prime real estate.
The house has just been refurbished through with new carpets and paint, you
have new windows, a new kitchen and a new bathroom, the house has been
refurbished to a Section 8 standard.The are new Section 8 tenants in place
paying $1,000 a month.
This house is very well located on the East side of Detroit. The property is in
Moross- Morang next to Harper Woods. Properties in Harper Woods have
increased dramatically over the last few years and is now beginning to influence
pricing within the bordering areas. With rents almost equivalent to Harper
Woods, this is a great opportunity to pick up a solid property with great capital
appreciation potential in the coming years.
Investment Calculations
Purchase price
$78,900
Gross annual rental income:
$12,000
Property running costs:(Tax, insurance and management costs)
$3,200
Net annual rental income:
$8,800
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
12%
Break even in
8.3 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 78,900.00 USD

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

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