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House for sale

£59,361

Michigan, Wayne County, Detroit, USA Property ID: 41704143

Property description

This nice three bedroom house is located in Von Steuban on the Eastside of Detroit just
5 minutes from the Belair Mall which holds host to the largest cinemas in Detroit. This
area is surrounded by great schools and colleges in Detroit and is less than 1 mile and
walking distance to The Osborn High School.
This property consists of three bedrooms, one bathroom, a lounge diner, a full
basement and a large rear garden. The house has tenants in place paying $1,000 in rent
each month. The house is under management with a great local Detroit property
management company.
This house is located in Von Steuban a great area in Detroit with a proud community
feel, This area has great schools and lots of local amenities, it is near to The University
district and is walking distance to Osborn High School

Investment Calculations

Purchase price

$69,900

Gross annual rental income:

$12,000

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

$3,060

Net annual rental income:

$8,940

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

Return of investment

13%