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House for sale

£76,345

Michigan, Wayne County, Detroit, USA Property ID: 41697108

Property description

This very nice three bedroom house is located on a very well kept street in
Evergreen – Outer Drive on the Westside of Detroit, the house is just a short walk to
Wayne County Community College, one of the best colleges in Detroit, Evergreen –
Outer Drive is surrounded by some of the best neighbourhoods in Detroit.
This property has three large bedrooms, one bathroom, a large basement, and a
large rear garden. The house has a tenant in place paying $925 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 current market rent for this property is closer to
$1,200 each month.

This propetry is located in Evergreen – Outer Drive, A very nice Community on the
Westside of Detroit, Evergreen – Outer Drive is surrounded by some of the best
suburbs in Detroit and is just 5 minutes North of Rosedale Park Historic district. The
house is also just a short walk to Wayne County Community College.

Investment Calculations

Purchase price

$89,900

Gross annual rental income:

$11,100

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

3,196

Net annual rental income:

7,904

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

Return of investment

Break even in