Three bedroom house, Detroit, USA
Detroit, Wayne County, Michigan, USA
Property ID: 41542780
Summary Data
| Price | £46,707 |
| Price Type | |
| Bedrooms | Studio |
| Bathrooms | 1 - Bath |
| Plot Size | |
| Building Size |
| Sector | Residential |
| Type | Houses |
| Subtype | Townhouse |
| Tenure | |
| Completion | |
| Parking |
Location Map
Property Description
This very nice three bedroom house is located on a very well kept street on the Westside of Detroit in Warrendale, just north of Dearborn.The property was only updated in October 2020 before the new Section 8 tenants were placed. This property has three large bedrooms, a kitchen-diner, a large basement and a large rear garden.This property is Section 8 approved and tenanted, the rent for this property is paid by the City of Detroit .This is a fantastic rental property and is under management by a local property management company.
This property is located in Warrendale and is right next to the famous University of Michigan Dearborn, of of the best universities in Detroit, it is also very close to the Henry Ford College of Dearborn, this is the perfect area for long term renting.
Investment Calculation
Purchase price: 55,000
Gross annual rental income: $10,788
Property running costs: $2,558
(Tax, insurance and management costs)
Net annual rental income: $8,230
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 15%
Break even in 6.6 Years