Property for sale in Detroit - 41703796 - Advertised on propertyO by Global Investments Incorporated

House for sale

£67,004

Michigan, Wayne County, Detroit, USA Property ID: 41703796


Property description

This very nice three bedroom house is located on a very well kept street in Moross-Morang
on the Eastside of Detroit, the house is only 1.6 miles and four minutes from Denby High
School.
This property consists of three large bedrooms, one bathroom, a lounge diner, a full
basement and a large rear garden. The house has tenants in place paying $800 in rent each
month and is under management with a great local Detroit property management company.
The market rent with Section 8 housing is currently $1,350
This house is located in Moross-Morang a great area in Detroit with a proud community feel,
this area has great schools and lots of local amenities, it is right next to Denby, Yorkshire
Woods, Harper Woods and Cornerstone Village. Properties in Harper Woods have increased
dramatically over the last few years and is now beginning to influence pricing within the
bordering areas. With rents almost equivalent to Harper Woods, this is a great opportunity
to pick up a solid property with great capital appreciation potential in the coming years

Investment Calculations
Purchase price
$78,900
Gross annual rental income:
$9,600
Property running costs:(Tax, insurance and management costs)
$2,291
Net annual rental income:
$7,309
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

10%

Break even in

10 Years.

Contact Global Investments Incorporated about this property

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