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House for sale

£80,591

Michigan, Wayne County, Detroit, USA Property ID: 41699911

Property description

This fantastic large four bedroom house is located on a very well kept street right on the
boarder of Barton-McFarland, a sought after right next to Aviation Sub. This is a quiet
respectable area next to Dearborn and has a great community feel.
This property was originally a 2 apartment multi family home consisting of two spacious
two bedroom, one bathroom units. The property has just Been remodelled and
converted into a large four bedroom single family home. A brand new well vetted
tenant is due to move into the property on January 1st paying $1,350 in rent each
month.
Barton-McFarland is a great neighbourhood in Detroit. This area is next to Aviation Sub
and Dearborn which are viewed as two of the top areas in Detroit. Many residents of
Dearborn have re-located to Aviation Sub and Barton-McFarland due to its exclusive
appeal. The house is also just 4 miles from the University of Detroit.

Investment Calculations

Purchase price

$94,900

Gross annual rental income:

$16,200

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

$3,055

Net annual rental income:

$13,145

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

Return of investment

14%