This four bedroom multi unit is a rare find at $94,900..
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Property DescriptionID:41699911
This fantastic large four bedroom house is located on a very well kept street right on the boarder of 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 was originally a 2 apartment multi family home consisting of two spacious two bedroom, one bathroom units. The property has just Been remodelled and converted into a large four bedroom single family home. A brand new well vetted tenant is due to move into the property on January 1st paying $1,350 in rent each month. 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 4 miles from the University of Detroit.
Investment Calculations
Purchase price
$94,900
Gross annual rental income:
$16,200
Property running costs:(Tax, insurance and management costs)
$3,055
Net annual rental income:
$13,145
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
14%
Break even in
7.14 Years.
This four bedroom multi unit is a rare find at $94,900..