Property for Sale
Property Reference: CPI3021D
<p><b>A DETACHED 3 BEDROOM TENANTED PROPERTY IN A NICE AREA OF WARREN, MICHIGAN</b></p> <p><b>Same tenant for over a year who has recently signed for another years lease</b></p> <p><b>Tenant is Section 8 funded and paying $740 a month rent !!</b></p> <p> </p> <p><b>A DETACHED 3 BEDROOM TENANTED PROPERTY IN A NICE AREA OF WARREN, MICHIGAN</b></p> <p><b>Same tenant for over a year who has recently signed for another years lease</b></p> <p><b>Tenant is Section 8 funded and paying $740 a month rent !!</b></p> <p> </p>
Ref: CPI3021D
Area: Detroit Metro
Type: 3 BED TENANTED HOUSE
Agreed Price: $ 25,000 / £ 16,233
Gross Monthly Rental Income: $ 740 / £ 480
Total Cost to buy inc. all purchase costs, fees and repairs: $ 29,730/£ 19,304

A DETACHED 3 BEDROOM TENANTED PROPERTY IN A NICE AREA OF WARREN, MICHIGAN

Same tenant for over a year who has recently signed for another years lease

Tenant is Section 8 funded and paying $740 a month rent !!

 

SECURED PRICE OF PROPERTY: $25,000 / €18,796 / £16,233

TOTAL COST TO BUY THIS PROPERTY FREEHOLD INCLUDING ALL PURCHASE COSTS AND FEES: $29,730 / €22,351 / £19,304

  • Low Cost Investment Opportunity
  • Already Rented to Tenant on a Yearly Lease who has been in the property for over 1 year and has signed for another years lease and is on section 8 funding
  • Income From Day 1
  • Detached 3 Bedroom Property with Garage
  • Superb Location and Neighbourhood

A 3 bedroom, 1 bathroom house with detached garage and private driveway for parking. 

The property measures 900 sq ft of build area and is on a large plot measuring 8,976 sq ft. The property is situated in Warren on the suburbs of Detroit, in a middle class area of owner occupant and rental homes.

The house is  rented out to a long term tenant on a yearly renewable lease for $740 a month.  The same tenant has been renting this property for over 1 year and has just signed another lease to March 2011.  The tenant receives section 8 funding from the government which guarantees rental payments to the end of the lease.

GROSS MONTHLY RENTAL INCOME: $740 / €556 / £480

Monthly Expenses include:

Property Tax of $166 / €125 / £107

Property Management Fee of $74 / €55 / £48

Tenant pays water, electric and gas

THIS WILL GIVE YOU A NET MONTHLY RENTAL INCOME OF: $500 / €376 / £325

NET INCOME PER ANNUM OF: $6,000 / €4,512 / £3,900

We bring to you the whole package:

  1. Exceptionally Low Priced Investment Properties
  2. High Yield Rental Income
  3. 1st Class Property Management Company
  4. Engineers Home Inspection Report
  5. Title Company/Attorney Assigned
  6. Complete Personal Service and Supervision of Your Purchase from Start to Finish
  7. Insurance Available
  8. Assistance with opening a US Bank Account

All prices are calculated at the following currency conversion rates:  $1.33=€1   $1.54=£1