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Three Bedroom House (ref. 41703673)
Date & Time Listed: 2024-05-27 10:25:13 (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 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.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 78,900.00 USD




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