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  • 3
  • Michigan
Price £17,897
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Property Description

16855 Chatham St, Detroit, MI 48219 is a lovely 3 bedroom detached Colonial located in the sought after Riverdale district.

This property offers excellent value for money as the average price for homes in this neighbourhood today is $70,000. Refurbished to a high standard, the home has just been let to new tenants on a renewable 12 month lease.

Built in 1925, the property totals 1,258 square feet on a lot of 6,500 square feet. It 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: $28,000

Closing Costs: $1,500

TOTAL OUTLAY: $29,500

RENTAL INCOME: $9,000 per annum

OUTGOINGS:

Property Taxes: $2,260

Insurance: $395

Management: $450

TOTAL OUTGOINGS: $3,105

NET INCOME: $5,895

THE NET YIELD IS THEREFORE A FANTASTIC 20%

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

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