This very nice three bedroom house is located on a very well kept street in Franklin Park on the Westside of Detroit, just north of Dearborn. This property has three large bedrooms, one bathroom, a large basement, and a large rear garden. The property has just been updated and made rental ready to a Section 8 standard. The management company will place brand new tenants when the new owner closes on the property. The house should achieve $1,300 – $1,400 in rent each month. This property is located in Franklin Park and is right next to the famous Rouge Park golf course. The property is also close to the University of Michigan and the Henry Ford College of Dearborn, this is the perfect area for long term renting. Investment Calculations Purchase price $89,900 Gross annual rental income: $16,800 Property running costs:(Tax, insurance and management costs) $3,780 Net annual rental income: $13,020 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.
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