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Investment @property Directory

Single Family in Detroit, MI

Residential Income Property (Single Family Rental)

Listing Expired over 3 years ago

List Price:

$45,000

XXXX Somerset
Detroit, Michigan 48224 Get Map


Built 1942
Posted June 30, 2008



Description:

3 Bedroom, 1 ½ Bath, Finished Basement w/ Bar, Fireplace, Garage
Offered At: $45,000
Sq. Ft. 808
Current Rental Rate: $850 (tenant pays all utilities)
Tax: $3150 (yearly)/ $262 (monthly)
Insurance: $900 (yearly)/ $75 (monthly)
Cash Flow: $513
ROI: $6156 or 13.7%
Features:
ï‚· New Carpet & Hardwood
Rent-to-own: Yes
ï‚· Appliances
Appraised Value: $86k – $107k
ï‚· Fireplace
ï‚· Finished Basement w/ Bar
ï‚· Newer Roof
ï‚· Updated Plumbing
ï‚· Optional Security System