This very nice three bedroom house is located on a very well kept street on the Eastside of Detroit in Regents Park, right next to Harper Woods, the house is also only 1.4 miles from Harper Woods High School This property consists of three large bedrooms, one and a half bathrooms, a lounge diner, a full basement and a large rear garden with a detached garage. The house has tenants in place paying $850 in rent each month and is under management with a great local Detroit property management company. The market rent with Section 8 housing is currently $1,350 This house is very well located on the East side of Detroit. The property is in Regents Park bordering on 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: $10,200 Property running costs:(Tax, insurance and management costs) $2,820 Net annual rental income: $7,380 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.
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