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House for sale

£67,853

Michigan, Wayne County, Detroit, USA Property ID: 41704085

Property description

This three bedroom house is located on a very well kept street in Greenfield on the
Westside of Detroit, the house is just 1.4 Miles to Wayne County Community College, one of
the best colleges in Detroit, Greenfield is surrounded by some of the best neighbourhoods
in Detroit.
This property consists of three large bedrooms, one and a half bathrooms, a lounge diner, a
full basement and a large rear garden. The house has just been updated and now has
section 8 tenants in place paying $1,175 per month, this rent is paid directly to the landlord
by the City of Detroit.
This property is located in Greenfield, A very nice Community on the Westside of Detroit,
Greenfield 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 1.4 Miles to Wayne County
Community College and 5 min from DMC Sinai Grace Hospital.

Investment Calculations

Purchase price

$79,900

Gross annual rental income:

$14,100

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

$3,210

Net annual rental income:

$10,890

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

Return of investment

14%