Property for sale in Detroit - 41709115 - Advertised on propertyO by Global Investments Incorporated

House for sale

£84,837

Michigan, Wayne County, Detroit, USA Property ID: 41709115


Property description

This fantastic two apartment multi family home is located in Outer Drive-Hayes on the Eastside of
Detroit, the house is just 2 miles from the old Detroit city airport which is now the Coleman A Young
International airport, mainly used for business and military.
The property is split into two apartments, you have a large two bedroom apartment downstairs and
a large one bedroom apartment upstairs . Both apartments will be renovated by Global Investments
best contractors and will be supplied rent ready to a Section 8 standard. The works will begin after
the new owner closes on the property. When complete the management company will place brand
new vetted tenants. The down apartment should achieve $950 – $ 1,250 in rent per month and the
upper should achieve $750 – $1,000 per month.
This house is located in Wade on the East side of Detroit. Wade is close to Harper Woods,
Eastpointe and the famous East English Village. This area has many great schools and lots of local
amenities. The house is just 1.7 Miles to Chandler Park, one of the largest golf courses in Detroit.

Investment Calculations
Purchase price
$99,900
Gross annual rental income:
$27,000
Property running costs:(Tax, insurance and management costs)
$4,432
Net annual rental income:
$22,568
Investment calculation - Net Income divided by Purchase price = NET ROI.

Return of investment

23%

Break even in

4.34 Years.

Contact Global Investments Incorporated about this property

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