This two bedroom house is a rare find at $71,900..
5 Images
Map
Video
Property DescriptionID:41701914
This great 2 bedroom brick built single family home is located in Fiskhorn, a sought after neighbourhood right next to Aviation Sub. This is a quiet respectable area just North of Dearborn and has a great community feel This property consists of two large bedrooms, one bathroom, a lounge diner, a full basement and a large rear garden. The house has just been remodelled inside and now has section 8 tenants in place paying $1,000 per month, this rent is paid directly to the landlord by the City of Detroit. Fiskhorn is a great neighbourhood in Detroit. This area is next to Aviation Sub and Dearborn which are viewed as two of the top areas in Detroit. Many residents of Dearborn have relocated to Aviation Sub and Fiskhorn due to its exclusive appeal. The house is also just 10 minutes from Wayne County community college and the University of Detroit.
Investment Calculations
Purchase price
$71,900
Gross annual rental income:
$12,000
Property running costs:(Tax, insurance and management costs)
$3,146
Net annual rental income:
$8,854
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
13%
Break even in
7.69 Years
This two bedroom house is a rare find at $71,900..