Three Bedroom House (ref. 41696931) - 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. 41696931)
Date & Time Listed: 2024-03-04 20:53:47 (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 very nice three bedroom house is located on a very well kept street in Belmont on the
Westside of Detroit, this area is highly demanded by investors and is surrounded by some of
Detroits best neighbourhoods, the likes Grandnmont Rosedale, Rosedale Park, St Marys.
This property has three large bedrooms, one and a half bathrooms, a large basement, and a
large rear garden. The house has a tenant in place paying $900 in rent each month. The
tenant is Section 8 housing so the rent is paid direct to the owner via the City of Detroit.The
seller has asked not to disturb the tenants so interior picture will be supplied on inspection
prior to contract.
The house is under management with a great local Detroit property management company.
This property is located in the Belmont Community on the desirable Westside of Detroit, the
house is just ten miles to the centre of Downtown Detroit and less than 2 miles from
Grandmont Rosedale. It is also very close to the University District so it is surrounded by some
of the best areas in Detroit.
Investment Calculations
Purchase price
$79,900
Gross annual rental income:
$10,800
Property running costs:(Tax, insurance and management costs)
$2,967
Net annual rental income:
$7,833
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
10%
Break even in
10 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 79,900.00 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