This three bedroom house is amazing value at $154,900
7 Images
Map
Video
Property DescriptionID:41698226
This three bedroom house is located on a very well kept street in Barton-McFarland, a sought after right next to Aviation Sub. This is a quiet respectable area next to Dearborn and has a great community feel. This property consists of three large bedrooms, one and a half bathrooms, a lounge diner, a full basement and a large rear garden with a detached garage.. The house has section 8 tenants in place paying $1,400 per month, this rent is paid directly to the landlord by the City of Detroit. Barton-McFarland 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 re-located to Aviation Sub and Barton-McFarland due to its exclusive appeal. The house is also just 5 miles from the University of Detroit.
Investment Calculations
Purchase price
$154,900
Gross annual rental income:
$16,800
Property running costs:(Tax, insurance and management costs)
$4,126
Net annual rental income:
$12,674
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
8%
Break even in
12.5 Years.
This three bedroom house is amazing value at $154,900