8515 Faust Avenue Detroit

$58,500
Sold
SKU: 1922
Property type: House
Area (Sq Ft)
701
Bedrooms
2
Bathrooms
1

Financial Details

  • Est. Rent PCM: $850
  • Yearly Income : $10,200
  • Management: $1,020
  • Taxes: $950
  • Insurance: $500
  • Net Income: $7,730
  • Net Yield: 13,21%

Description

Excellent investment opportunity!

This newly acquired two bedroom/one bathroom single-family home is located on Faust Street in the Warrendale neighborhood of Detroit. It is a traditional brick home with a strong structure and nice features. The property has undergone some minor modifications and new photos of the interior will be available soon. The doors have been winterized, new locks have been installed, walls have been repaired and new electric work has been installed for the dryer.

The Warrendale area is a safe residential community with many beautiful parks, family restaurants, and stores. It is quiet and calm and residents take great pride in looking after their yards and homes.

It will be ready to be rented approximately 40 days after closing on the property. The average rent of similar properties in this neighborhood is $850 per month and Masterkey predicts it can be rented for this amount, give or take $50.