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41697403 - Buy a House in USA, Michigan, Wayne County, City of Detroit

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Four bedroom house

Property Information

Type: House Property ID: 41697403
Location: City of Detroit, USA Added on: 26 Sep 2023
Price: £89,084

Short Description

This four bedroom is amazing value at $104,900..

Key Information

  • Property ID: 41697403
  • Location: City of Detroit
  • Property Type: House
  • Prices: £ 89,084 / € 101,766 / $ 104,900

Full Description

This large four bedroom colonial house is located on a very well kept street
in Harmony Village on the Eastside of Detroit, the house is within walking
distance to Renaissance High School.
This property consists of four large bedrooms, one and a half bathrooms, a
lounge diner, a full basement and a large rear garden. The house has just
refurbished to a Section 8 standard, new Section 8 tenants have just been
placed and the rent is $1,430 per month. This rent is paid directly by the
City of Detroit.

This house is located in Harmony Village, a great area in Detroit with a
proud community feel, this area has great schools and lots of local
amenities, it is close to The University district and Bagley, two of the best
neighbourhoods in Detroit and is also walking distance to Renaissance
High School.

Investment Calculations
Purchase price
$104,900
Gross annual rental income:
$17,160
Property running costs:(Tax, insurance and management costs)
$3,699
Net annual rental income:
$13,461
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

13%

Break even in

7.69 Years

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  • House
  • 4 bedrooms
  • USA
  • City of Detroit
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