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House for sale

£63,607

Michigan, Wayne County, Detroit, USA Property ID: 41701916

Property description

This fantastic two bedroom house is located in Nolan, right next to The North East Central
district of Detroit. The house is just 10 minutes from the Belair Mall which holds host to the
largest cinemas in Detroit.
The property is in great condition and has just been completely refurbished throughout to a
high standard. The house consists of two large bedrooms, one bathroom, a large lounge
diner, a full basement and a large rear garden with a detached garage. The property is now
rental ready and the management company will place brand new tenants when the new
owner closes on the property. The house should achieve $1,000 – $1,100 in rent each
month.
This house is located in Nolan, a great area in Detroit with a proud community feel, this area
has great schools and lots of local amenities, it is close to The University district. The house
sits in a great street directly opposite Nolan elementary middle school.

Investment Calculations

Purchase price

$74,900

Gross annual rental income:

$13,200

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

$3,213

Net annual rental income:

$9,987

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

Return of investment

14%