House/villa for Sale in Detroit

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36,500 EUR

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Ref 1326668 | United States, Minnesota | 4 Bedroom Home

36,500 EUR  |  Approx.£28,642 GBP  |  Approx. US$44,818 USD

Financials
 Currently rented to a pre-screened, up to date tenant for $900 per month.
 Yearly taxes of $1,590
 Gross yearly income $10,800
 Yearly management fee $1,080
 Net annual rent roll $8,130
 Net Yield = 16.8 %
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
Recent updates:
Metro Management carries out extensive refurbishments of all properties to exacting standards. The scope of these works is deliberately set well above those set by Government Agencies as part of the Section 8 Program. For further detailed information regarding our home improvement standards, please take a look at our walk through video on [link removed].
All works are carried out by our wholly owned and managed, fully licensed contractor, Atlas Construction Services who have already refurbished in excess of 400 quality homes throughout the Detroit area. Our attention to detail is key in providing a superior end product, one that allows us the best rental rates and continuity of tenants in a dynamic environment, this attention to detail includes working through a highly detailed checklist that considers every element of the property, both internally and externally. Unlike our competitors, completed checklists, work in progress photographs as well as photographs of the completed works are available to all our clients who will be able to see the property in the same great shape as that of your potential tenants. Typical works undertaken include but are not restricted to:
New or refurbished roof
New or refurbished windows and doors
Complete internal and external painting
External masonry pointing and guttering replacement / repairs
New plumbing throughout
New electrics throughout
New heating and mechanical systems
Refurbished hardwood flooring, tiled flooring or new carpeting as appropriate
New or refurbished Kitchen units
New or refurbished bathroom wares
HE 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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