Tenanted bargain USA foreclosure in Detroit. Positive cash flow @ 800 USD per month and fully managed.

Ref: US097
Selling Price: 44 000 USD
Price: £ 28 735 / 42 490 AUD
Area: Detroit

Property size: 1245 sq.ft.
Bedrooms: 3
Garage: Yes

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Description property in usa

· 3 Bed, 1.5 Bath Tenanted Buy to let Property
· Detached freehold property in good rental area
· House size = 1245 sq.ft
· Brick built
· Full Size basement and off road parking at front
· Single Garage to rear
· Low Property tax = approx 2000 USD
· Already tenanted (2 year lease)
· ACTUAL Rental return = 800 USD/month

This is an ideal location for excellent rental income and price rebound. This is a nice middle-class area with good local schools, in a good area just off West Outer Drive. It’s close to all facilities such as schools, shops and the house is very close to the brand new Renaissance high school.

The property requires no improvement and has tenants in place with approximately 2 years tenancy to run. The tenants are in employment and payment history has been checked.

Prices are springing up from the absurdly low levels as local investors buy up such property, there are even bidding wars on many repossessions. Prices are now sharply on the up. There is no previous sale history for this property in the last 5 years but the current valuation is approximately 95,000 USD.

The NET return is a staggering 15.09% (not including building insurance) – this is an excellent return, not to mention the huge capital gains to be experienced as the market rebounds.