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  • 3
  • Michigan
Price £21,093
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Property Description

16855 Chatham St, Detroit, MI 48219 is located in the popular Riverdale district. The average price for homes in this neighbourhood presently is $70,000. This detached 3 bed is currently being refurbished and new tenants are lined up to move in prior to the closing of any sale to ensure an excellent income from day one.

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: $33,000

Closing Costs: $2,500

TOTAL OUTLAY: $35,500

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 16.6%

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

Price: 33000.00 $ Bedrooms: 3 Bathrooms: 1

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Property Location

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