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House for sale

£74,647

Michigan, Wayne County, Detroit, USA Property ID: 41695370

Property description

This fantastic two apartment multi family home is located on a very well kept street
in The Hubbell-Lyndon Community on the Westside of Detroit, the house is just
seven minutes from the famous Grandmont Rosedale.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs, Both
apartments have tenants in place each paying $900 in rent each month.
The house is under management with a great local Detroit property management
company.

This property is located in he Hubbell-Lyndon Community on the desirable
westside of Detroit, the house is just ten miles to the centre of Downtown Detroit
and less than 2 miles from Grandmont Rosedale. It is also very close to the
University District so it is surrounded by some of the best areas in Detroit.

Investment Calculations

Purchase price

$87,900

Gross annual rental income:

$21,600

Property running costs:(Tax, insurance and management costs)

$4,360

Net annual rental income:

$17,240

Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

20%