Wayne County - United States 3 Bedroom House Available
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House/Villa Description
Turn Key Cash Flowing Property Only $49,500 / £30,000, , Substantial 3 bedroom 1 bathroom brick colonial located in first class (morningside) area of Northeast Detroit, Property information, Detroit?s Morningside neighborhood is home to one of the city?s largest and most organized neighborhood clubs. The Morningside Club, organized by the neighborhood?s resident?s work hard to keep the area well kept, giving the homes serious curb appeal. A prime example is this towering all brick, 3 bedrooms Colonial. This area is surrounded by businesses including restaurants and retail shopping. On the southern border of Morning side are the Gross Pointes, some of the most affluent suburbs in the country. Two of the area?s most prominent hospitals, Henry Ford and Beaumont are located a short distance away. The major East/West thoroughfare in the area, Interstate 94, runs along the north end of the neighborhood., , STOCKS ARE SELLING FAST ON A DAILY BASIS SO THIS MAY ALSO BE USED AS AN EXAMPLE
Financials:
? Currently rented to a pre-screened, up to date tenant for $925 per month.
? Yearly taxes of $2,000
? Gross yearly income $11,100
? Yearly management fee $1,110
? Net annual rent roll $7,990
? Net Yield = 16.1 %
Recent updates:
? New roof in excellent condition, guaranteed to last.
? New windows throughout the house including all 3 bedrooms and living room.
? New heavy duty steel mesh security doors.
? Freshly sanded and refinished natural colored hardwood floors throughout home.
? Freshly painted throughout in stylish two-toned color scheme.
? Fully updated basement with newer hot water tank and boiler, spacious area for washer and dryer.
? Newly installed durable PEX1 plumbing throughout the home.
? Completely updated electrical work including new electrical panel.
Please note that figures and percentages quoted within this document are approximate. Property taxes quoted are based on most up to date information and may vary from final figures supplied via Title Company on closing statement. Whilst USA Property Direct and Metro Property Management take all appropriate steps to ensure accuracy of the figures supplied we cannot accept responsibility for any discrepancies therein
THE DETROIT ADVANTAGE:
Investing in Detroit provides incentives not offered anywhere else in the world.
Quality-The recent economic downturn has presented a unique opportunity in many hard hit housing markets. However, the quality of Detroit homes is unmatched. Large, well built brick homes line the streets of the city and are being sold at bargain levels. Each of our homes is fully refurbished and updated, and go through a detailed screening process before being selected.
Return-With millions of federal dollars invested in the city, urban revitalization is fully under effect. Several government programs have been set up to provide investors with a large pool of potential tenants. These tenants have guaranteed income which can be sent directly to the home owner. With programs such as Sec. 8, which pays above market value monthly rent, return on your investment dollar is unprecedented.
Turn key- All of our properties are diligently maintained and managed by a fully accredited property management firm. Our Detroit management team is located in the heart of the community, providing you with a knowledgeable and professional staff on location. We deal with the tenants directly on your behalf and oversee the daily tasks associated with your property.
Simplicity- Investing in Detroit couldn?t be easier, and we provide you with clear and precise updates to track your investment. Monthly statements and documents are accessible online with the click of a button. Our staff will work with you every step of the way, answering any questions you may have.
OVERVIEW OF DETROIT:
Detroit is located in the Mid-Western United States, and is the largest city in the State of Michigan. Detroit has long been the industrial capital of the United States. The automotive boom at the turn of the 20th century attracted flocks of migrants from across the USA who settled in the Motor City. With the auto companies as anchors, businesses sprang up in and around the city creating one of the most vibrant metropolitan areas in the country. Today, Metro Detroit is home to over 5 million people and is still a hub of industry and commerce.
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Approximate price of this 3-Bed House
€39,455 EUR |
£31,576 GBP |
US$49,500 USD |
(Currency and Foreign Exchange services supplied by  )
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| Type |
House |
| Bedrooms |
3 |
| Build Size |
0.00 |
| Category |
Re-Sale |
| Listed |
120 days ago |
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Map of Detroit, Michigan, United States
Real Estate Agent Listing this Property
Towns located close to Detroit, United States
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Similar Properties in or near Detroit
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Price: US$49,500
Currency in United States
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Latest Property News in USA
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Price of Property in Detroit, USA
| (All prices in EUR) |
Detroit |
Detroit |
Detroit |
| House/Villa |
34,000 |
240 |
51,500 |
65,000,000 |
- |
242,990 |
| Bungalow |
41,500 |
15,618 |
48,300 |
367,000 |
- |
- |
* Calculations based on 13 properties for sale in Detroit and 4566 properties for sale in USA |
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Looking to buy property in Detroit, Wayne County, Michigan, United States?
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