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House for sale

£72,099

Michigan, Wayne County, Detroit, USA Property ID: 41696827

Property description

This fantastic ranch style three bedroom house is located on a very well kept
street on the Westside of Detroit in Five Points the house is also just 1.7 miles
from Redford Union High School. It is also only two miles from the affluent areas
of Old Redford and Rosedale Park where you will find some of Detroits most
prime real estate.
The house was recently updated and there are new Section 8 tenants in place
paying $1,200 each month, the rent is paid by the City of Detroit. This property
is managed by a great local property management company.

This property is very well located on the Westside of Detroit, the area is called
Five Points which is just north of the Eye and Dearborn and is only a 1.7 miles to
The Redford Union High School. The area is a very nice safe family orientated
suburb. It is also close to Rosedale Park, Belmont and Redford, all of which are
very desirable areas on the Westside of Detroit.

Investment Calculations

Purchase price

$84,900

Gross annual rental income:

$14,400

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

$3,080

Net annual rental income:

$11,320

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

Return of investment

14%