Three Bedroom House (ref. 41708941) - Houses for Sale, Real Estate - Number of Bedrooms: 3, Number of Bathrooms: 1 - Wayne, Michigan, United States

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Three Bedroom House (ref. 41708941)
Date & Time Listed: 2025-02-24 10:11:36 (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 in Farwell on
the Eastside of Detroit. The house is just 1 mile from John J Pershing High School.
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 $1,350 –
$1,700 in rent each month based on the current Section 8 rates.
This house is located in farwell, a great area in Detroit with a proud community feel, this
area has great schools and lots of local amenities. The house is just a shot walk Farwell
Park, a 90-acre park whcih features multiple sports fields, basketball courts, tennis
courts, playground, fitness equipment, and a park shelter.
Investment Calculations
Purchase price
$94,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$3,919
Net annual rental income:
$16,481
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
18%
Break even in
5.5 Years.
This property is a House for sale.

Other Details:

Number of Bedrooms: 3
Number of Bathrooms: 1

Price: 94,900.00 USD

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Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1 Posted From: United States, Michigan, Wayne

Posted in Categories: Real Estate, Houses for Sale - Number of Bedrooms: 3, Number of Bathrooms: 1
Posted From: United States, Michigan, Wayne