This three bedroom house is located on a very well kept street in Grand River, a sought after area just North of Aviation Sub. This is a quiet respectable area near to Dearborn that has a great community feel. This property consists of three spacious bedrooms, one bathroom, a lounge diner, a full basement and a large garden. The house will be renovated by Global Investments best contractors and will be supplied rent ready to a Section 8 standard. The works will begin when the new owner closes on the property. When complete the management company will place brand new vetted tenants. The house should achieve $1,250 – $1,700 in rent each month based on the current Section 8 rates. Grand River is a great neighbourhood in Detroit. This area is next to Aviation Sub and Dearborn which are viewed as two of the top areas in Detroit. Many residents of Dearborn have re-located to Aviation Sub and Barton-McFarland due to its exclusive appeal. The house is also just 3.7 miles from the University of Detroit. Investment Calculations Purchase price $81,900 Gross annual rental income: $20,400 Property running costs:(Tax, insurance and management costs) $4,063 Net annual rental income: $16,337 Investment calculation - Net Income divided by Purchase price = NET ROI. Return of investment 20% Break even in 5 Years. This property is a House for sale.
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