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41704138 - Buy a House in USA, Michigan, Wayne County, Detroit

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Two bedroom house

Property Information

Type: House Property ID: 41704138
Location: Detroit, USA Added on: 31 May 2024
Price: £59,361

Short Description

This two bedroom is amazing value at $69,900..

Key Information

  • Property ID: 41704138
  • Location: Detroit
  • Property Type: House
  • Prices: £ 59,361 / € 67,811 / $ 69,900

Full Description

This nice two bedroom house is located in Von Steuban on the Eastside of Detroit just 5
minutes from the Belair Mall which holds host to the largest cinemas in Detroit. This
area is surrounded by great schools and colleges in Detroit and is less than 1 mile and
walking distance to The Osborn High School.
This property consists of two bedrooms, one bathroom, a lounge diner, a full basement
and a large rear garden. The house has tenants in place paying $1,050 in rent each
month. The house is under management with a great local Detroit property
management company.
This house is located in Von Steuban a great area in Detroit with a proud community
feel, This area has great schools and lots of local amenities, it is near to The University
district and is walking distance to Osborn High School

Investment Calculations
Purchase price
$69,900
Gross annual rental income:
$12,600
Property running costs:(Tax, insurance and management costs)
$2,867
Net annual rental income:
$9,733
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

14%

Break even in

7.14 Years.

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