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41699911 - Buy a House in USA, Michigan, Wayne County, Detroit

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Four bedroom house

Property Information

Type: House Property ID: 41699911
Location: Detroit, USA Added on: 28 Dec 2023
Price: £80,591

Short Description

This four bedroom multi unit is a rare find at $94,900..

Key Information

  • Property ID: 41699911
  • Location: Detroit
  • Property Type: House
  • Prices: £ 80,591 / € 92,064 / $ 94,900

Full Description

This fantastic large four bedroom house is located on a very well kept street right on the
boarder of Barton-McFarland, a sought after right next to Aviation Sub. This is a quiet
respectable area next to Dearborn and has a great community feel.
This property was originally a 2 apartment multi family home consisting of two spacious
two bedroom, one bathroom units. The property has just Been remodelled and
converted into a large four bedroom single family home. A brand new well vetted
tenant is due to move into the property on January 1st paying $1,350 in rent each
month.
Barton-McFarland 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 4 miles from the University of Detroit.

Investment Calculations
Purchase price
$94,900
Gross annual rental income:
$16,200
Property running costs:(Tax, insurance and management costs)
$3,055
Net annual rental income:
$13,145
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

14%

Break even in

7.14 Years.

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  • House
  • 4 bedrooms
  • USA
  • Detroit
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