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House for sale

£67,853

Michigan, Wayne County, Detroit, USA Property ID: 41696426

Property description

This very nice three bedroom house is located in the Riverdale Community on the
Westside of Detroit, this area is just north of Dearborn which is one of the best areas in
Detroit.
The property has three bedrooms, a large lounge diner, one bathroom and a large
garden. The house has a tenant in place paying $1,100 in rent each month. The seller
has asked not to disturb the tenants so interior picture will be supplied on inspection
prior to contract.
The house is under management with a great local Detroit property management
company

This property is very well located on the Westside of Detroit, the area is called Riverdale
which is just north of Dearborn and less than 3 miles to the centre of Rosedale Park
historic district. The house is also just 5 minutes to Wayne County community college and
close to Belmont and Redford, all of which are very desirable areas on the Westside of
Detroit.

Investment Calculations

Purchase price

$79,900

Gross annual rental income:

$13,200

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

$2,888

Net annual rental income:

$10,312

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

Return of investment

13%