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11.7% cap on this Cheap Detroit Rental!



$29,000

SOLD

4367 Neff Ave

Detroit, MI

  • Property is currently rented for 475 month to month and producing a 11.7% CAP rate.
  • 11% CAP RATE:
    $3,416 NOI /$29,000 Purchase Price
  • Net Operating Income:
    $5,700 Gross Rental Income
    -$570Management Cost (10%
    -$840 Insurance ($70/mo)
    -$874 Annual Taxes
    $3,416 NOI
  • Just Close and start collecting rent.

Documents

 
No Documents for this Property


  • Sale Comps $40K - $47K
  • Rental Comps $400 - $500
  • Property Type Residential
  • Location Detroit, MI
  • Size 632 sq. ft.
  • Bedrooms 2
  • Bathrooms 1
  • TAV 7.2K
  • Annual Taxes $874
  • Year Built 1943

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