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Three Bedroom House (ref. 41702463)
Date & Time Listed: 2024-03-29 09:38:05 (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 single family house is located on a very well kept street in
Eight Mile Wyoming on the West side of Detroit, the house is just two miles to The
University of Detroit Mercy.
This property consists of three spacious bedrooms, one bathroom, a lounge diner, a full
basement, a large rear garden. The house has just been renovated and made rental
ready and a Section 8 tenant has just been placed paying $1,250 in rent per month. The
house ins under management with a great local Detroit property management
company.
This house is located in Eight Mile Wyoming, a great area in Detroit with a proud
community feel, this area has great schools and lots of local amenities, it is close to The
University district and Bagley, two of the best neighbourhoods in Detroit and is just two
miles to The University of Detroit Mercy.
Investment Calculations
Purchase price
$82,900
Gross annual rental income:
$15,000
Property running costs:(Tax, insurance and management costs)
$3,200
Net annual rental income:
$11,800
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
15%
Break even in
6.6 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 82,900.00 USD




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