top of page
1000000529-removebg-preview.png

Detroit, Wayne County, Michigan, USA

Writer's picture: Holmes Properties And REITHolmes Properties And REIT

Updated: Apr 17, 2023

£50,632 = $62,900 USD (Exchange rate information)




PROPERTY TYPE

Detached

BEDROOMS

×3

BATHROOMS

×1

SIZE

1,197 sq. ft.

(111 sq. m.)






KEY FEATURES

Three bedrooms | Tenanted | Fully managed | Local staff | Garden | Great location | Good condition


PROPERTY DESCRIPTION

This lovely three bedroom house is located in Grand River-St. Marys on the Westside

of Detroit, this area is just north of Dearborn which is one of the best areas in Detroit.

There are three large bedrooms, one and a half bathrooms, a full basement and a

nice garden with a detached double garage. The property has just been vacated and

the seller will complete a few minor cosmetic repairs after closing to bring the house

to a Section 8 rent ready standard. The management company will then place brand

new tenants when the new owner closes on the property paying $1,100 - $1,200 in

rent each month. The tenants can be Section 8 housing or private.


This property is very well located on the Westside of Detroit, the area is called Grand

River-St. Marys which is just north of Dearborn and only 1 miles and just a four minute

drive from the centre of Grandmont Rosedale. It is also close to Rosedale Park,

Belmont and Redford, all of which are very desirable areas on the Westside of

Detroit.


Investment Calculation


Purchase price: 62,900


Gross annual rental income: $14,400


Property running costs: $3,001

(Tax, insurance and management costs)


Net annual rental income: $11,399


Investment calculation - Net Income divided by Purchase price = NET ROI.


Return on investment: 19%


Break even in 5.26 Years


Let Holmes help you with your real estate Investments. We are here to help you build your real estate portfolios, and can customise a purchase plan for your wealth building future! HOLMES Investments provides our clients with excellent strategies for real estate investing, home ownership and wealth building. Understanding the market is the key to success. The market has changed so vastly in the past two years, it takes knowledge to navigate the current local markets and get the best deals.


For the real estate investor, this is the time to take advantage of the market, build portfolios, and create passive real estate income, all leading to future wealth. It can be difficult for new real estate investors to learn to navigate around all of the areas we sell in. Online public information directories, website listing companies etc, all can be very daunting, that is what we are here for.


We specialise in selling single family and multi tenanted homes in all States in the US. We have exclusive agreements with the biggest Asset Management Companies and Banks in the US bringing you the best investments at the best prices with no hidden gimmicks.


Just straight talking advice.


We pride ourselves on the level of service that we give before and after the sale, giving you a 24/7 hands on service which is unrivalled in the industry.


Our biggest business is repeat business and referral.


What we offer?


1. US and Uk offices.

2. Highest ROI in the marketplace

3. On the ground management.

4. Professionally managed by our US staff.

5. Safe and secure locations.

6. Renovation team on the ground.

7. Investment renovation packages

8. 24/7 after sales on hand every day.

9. Award winning Brokers

10. 5 star reviews.

11. Bulk purchases

12. LLC set up.

13. Home Warranty.

14. Landlord Insurance



If you're looking for great properties to purchase with excellent on-the-ground local property management then check out our current inventory, and contact us with any questions ?


Welcome to Holmes "We are always here to help."


Holmes Investments " The straight talking property company. "


32 views0 comments

Recent Posts

See All

Comments

Rated 0 out of 5 stars.
No ratings yet

Add a rating
bottom of page