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House for sale

£62,758

Michigan, Wayne County, Detroit, USA Property ID: 41698388

Property description

This very nice three bedroom house is located on a very well kept street in College Park on
the Westside of Detroit, the house is just one mile to Wayne County Community College, one
of the best colleges in Detroit, College park is surrounded by some of the best
neighbourhoods in Detroit.
This property consists of three large bedrooms, one bathroom, a lounge diner, a full
basement and a large rear garden. The house was recently updated and now has tenants in
place paying $850 in rent per month. The property is under management with a great local
Detroit property management company.
This property is located in College Park, A very nice Community on the Westside of Detroit,
College Park 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 1 mile to Wayne County Community
College.

Investment Calculations

Purchase price

$73,900

Gross annual rental income:

$10,200

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

$2,910

Net annual rental income:

$7,290

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

Return of investment

10%