Incredible USA foreclosure bargain- absurdly discounted 3 bed brick tenanted property in Detroit.

Ref: US102
Selling Price: 36 500 USD
Price: £ 23 837 / 35 247 AUD
Area: Detroit

Property size: 1162 sq.ft.
Plot size: 3789 ft.
Bedrooms: 3
Garage: Yes

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Description property in usa

American Foreclosures at a fraction of true cost!

“The big money in property is found in unbalanced markets”

“Turn-key” investment requiring little input from the investor... full rental management included, no hassle, hands off property investment. There’s no better place to buy great value investment property at the moment than America.

Our US foreclosure properties offer returns of around 25% gross (10-15% NET) – they are low cost investment opportunities with tenants in situ and huge capital gains to be experienced over the next few years. We are the experts in selecting the right property. We only offer exceptional investments, like this excellent Detroit option in a stable residential area - sold with a tenant in place, included in price.

US102 – Snowden Ave, Detroit, Michigan, 48227

The property facts:

3 Bed, 1 Bath Detached Property

Freehold “buy-to-let” property in good residential area

House size = 1162 sq.ft

Plot Size = 3789 sq.ft

Brick built, corner plot

Off road parking including a single garage to rear

ACTUAL Rental return = 600 USD/month (discounted)

Sale price: Just $36, 500!

This is an ideal location for excellent rental income and price rebound. This is a nice middle-class area with good local schools, North West of Detroit City. It’s close to all facilities such as schools, shops and is very close to the 2 Detroit University Campuses.

The house is currently rented at $600 per month but this is a discounted rate offered by the previous owner as favour to the tenants, this lease will expire in July 2010 and a “normal” rental return would be in the region of $750 per month. The sale price of the property is low to reflect the lower rental amount so once the rent returns to the average for the area, the new owner will experience a much higher NET return (approx 15%) and this will be an even better deal than it already is!

Prices are springing up from the absurdly low levels as local and international investors buy up such property, there are even bidding wars on many repossessions and prices are now sharply on the up. Current NET return is over 11%, an excellent return. Add to this the huge capital gains to be experienced as the market rebounds and this is an excellent low cost investment opportunity.

Download the Income and Expenses for this Property