This two bedroom house is amazing value at $74,900..
6 Images
Map
Video
Property DescriptionID:41701916
This fantastic two bedroom house is located in Nolan, right next to The North East Central district of Detroit. The house is just 10 minutes from the Belair Mall which holds host to the largest cinemas in Detroit. The property is in great condition and has just been completely refurbished throughout to a high standard. The house consists of two large bedrooms, one bathroom, a large lounge diner, a full basement and a large rear garden with a detached garage. The property is now rental ready and the management company will place brand new tenants when the new owner closes on the property. The house should achieve $1,000 – $1,100 in rent each month. This house is located in Nolan, a great area in Detroit with a proud community feel, this area has great schools and lots of local amenities, it is close to The University district. The house sits in a great street directly opposite Nolan elementary middle school.
Investment Calculations
Purchase price
$74,900
Gross annual rental income:
$13,200
Property running costs:(Tax, insurance and management costs)
$3,213
Net annual rental income:
$9,987
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
14%
Break even in
7.14 Years.
This two bedroom house is amazing value at $74,900..