Cash Purchase Deal
| Annual Gross Rent | $27.600 |
|---|---|
| Management Fee | $2.760 |
| Property Tax | $524 |
| Insurance | $1.000 |
| Net Annual Income | $23.316 |
| Net Return on Investment (ROI) | %17 |
|---|---|
| Payback Period | 6 yrs |
Description
This fantastic single family home is located on a nice street in Riverbend on the
Eastside of Detroit. The house is bordering Grosse Pointe Park which is one of the
best places to live in Michigan. The house is also just 1.7 Miles to Windmill Pointe Park.
There are five large bedrooms, two bathrooms, a full basement and a large garden.
The house is being sold approx $30,000 – $40,000 below market value, the new
owner could purchase the house and refinance possibly giving little to no capital
outlay. The property has just been renovated to a Section 8 standard and is now
ready for new tenants. The management company will place brand new vetted
tenants when the new owner closes on the property. he house should achieve $2,000-$2,300 in rent each month based on current Section 8 rates for this zip code.
Details
Updated on September 28, 2026 at 8:25 pm- Price: $139,900
- Property Size: 1288 Sq Ft
- Bedrooms: 5
- Bathroom: 1
- Property Type: Single Family
- Property Status: 17% Net Return
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