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House for sale

£76,345

Michigan, Wayne County, Detroit, USA Property ID: 41707319

Property description

This very nice three bedroom house is located on a very well kept street in
Franklin Park on the Westside of Detroit, just north of Dearborn.
This property has three large bedrooms, one bathroom, a large basement, and a
large rear garden. The property has just been updated and made rental ready to
a Section 8 standard. The management company will place brand new tenants
when the new owner closes on the property. The house should achieve $1,300 –
$1,400 in rent each month.
This property is located in Franklin Park and is right next to the famous Rouge
Park golf course. The property is also close to the University of Michigan and the
Henry Ford College of Dearborn, this is the perfect area for long term renting.

Investment Calculations

Purchase price

$89,900

Gross annual rental income:

$16,800

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

$3,780

Net annual rental income:

$13,020

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

Return of investment

15%