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  • 5
  • Michigan
Price £21,732
  • title image

Property Description

We are pleased to offer for sale 3853 Seneca St, Detroit, MI 48214 an attractive 5 bedroom Colonial home which is located just a few blocks from some of the most desirable homes in Michigan with great potential for capital appreciation.

The property is currently undergoing comprehensive refurbishment and tenants will be in residence before the closing of the sale within 4 weeks. This property sold for $85,000 in January 2006.

Built in 1924, this house totals 2,115 square feet and benefits from a basement and a garage.

Unlike many of our competitors, we take into account all closing and ongoing costs to give you a genuine net yield!

KEY FIGURES:

Purchase Price: $34,000

Closing Costs: $2,500

TOTAL OUTLAY: $36,500

RENTAL INCOME: $9,600 per annum

OUTGOINGS:

Property Taxes: $1,324

Insurance: $395

Management: $960

TOTAL OUTGOINGS: $2,679

NET INCOME: $6,921

THE NET YIELD IS THEREFORE A FANTASTIC 19%

For further information or to reserve this property, please complete the enquiry form as soon as possible.

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