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House for sale

£72,099

Michigan, Wayne County, Detroit, USA Property ID: 41709211

Property description

This three bedroom house is located in Krainz Woods on the Eastside of Detroit just 10
minutes from the Belair Mall which holds host to the largest cinemas in Detroit.
This property consists of three spacious bedrooms, one bathroom, a lounge diner, a full
basement and a large garden. The house will be renovated by Global Investments best
contractors and will be supplied rent ready to a Section 8 standard. The works will begin
when the new owner closes on the property. When complete the management
company will place brand new vetted tenants. The house should achieve $1,250 –
$1,800 in rent each month based on the current Section 8 rates.
This house is located in Krainz Woods 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 The
University district and is just 1 mile to John Pershing High School.

Investment Calculations

Purchase price

$84,900

Gross annual rental income:

$21,600

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

$4,011

Net annual rental income:

17,589

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

Return of investment

21%