Low cost Buy-to-let investment property in Detroit with tenants paying $900 per month!

Ref: US109
Selling Price: 38 200 USD
Price: £ 24 947 / 36 889 AUD
Area: Detroit

Property size: 1232 sq.ft.
Plot size: 5200 ft.
Bedrooms: 3

Send enquiry

Description property in usa

**Download PDF Brochure for full Income-Expense Analysis**

"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 (10-16% 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 fully renovated, with a tenant already in place!

· 3 Bed, 1.5 Bath, Buy-to-let Property
· Detached freehold property in sought after area
· Built 1952
· House size = 1232 sq.ft
· Plot size = 5200 sq.ft (40x130)
· Full size basement
· Actual Rental return = 900 USD/month

This is an ideal location for fantastic rental income and price rebound. The location of the property is excellent; on the border with Detroit and Oak Park (just south of 8 Mile). Good schools and public transport are immediately available in the area. This property is at the end of a U shaped rd and it is a very quiet (and well maintained) block.

Although the taxes are high, the location more than compensates for this – generally, the higher the tax, the better the area. There are a number of privately owned homes for sale in the immediate area which are very similar in size and style to US109, the prices range between $75-$130K.

The property requires only small improvement and has tenants moving in at the end of May. The rent is agreed at 900 USD per month. Paperwork is just being completed so the closing will tie in nicely with the inspection and lease start. 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 and this is an excellent low cost option with high rental. The NET return is over 15%! This is an excellent return, not to mention the huge capital gains to be experienced as the market rebounds.

Download the Income and Expenses for this Property