People are starting to move out of Downtown and Midtown Detroit again.
But it’s for a different reason this time…
You see, demand for property in Downtown and Midtown is now so high it is causing rents to skyrocket.
In fact, the average monthly rent for a 2-bed apartment has risen by 11% over the last 12 months.
So many people are being priced out of the city center.
But they are not leaving Detroit.
They’re moving to neighborhoods close to the city center where they can rent a detached house for the same price as a small apartment.
Places such as Fitzgerald, Morningside and East English Village are all in high demand, according to RentRange.com.
And this increased demand has already had an effect on prices.
Because rents in these neighborhoods are rising almost as fast as in Downtown Detroit.
Take a look for yourself…
Here’s how median rents for a 3 bedroom single family home performed over the past 2 years:
- Fitzgerald – up US$ 85 to US$ 825
Increase = 11.49%
- Morningside – up US$ 132 to US$ 832
Increase = 19.20%
- East English Village – up US$ 75 to US$ 850
Increase = 9.68%
It’s certainly good news if you own property in these areas.
So if you would like to see a full list of investment properties in Fitzgerald, Morningside and East English Village – just reply to me.
Let’s have a quick look at a few that are available right now.
Morningside is in Southeast Detroit next to affluent Grosse Pointe.
It is 16km from Downtown Detroit or an 18 minute drive.
A lot of money has been spent regenerating this neighborhood over the last few years.
As a result, it is popular with parents and children.
So there is high demand for rental property in this area and property prices are rising fast.
This property is 500 meters (0.3 Miles) to Wayne Elementary School.
The shops, banks and restaurants on Harper Avenue are just a 3 minute walk.
The house has 3 bedrooms, 2 bathrooms, a living room, a kitchen, a 740 sq. ft. basement and a 3,485 sq. ft. garden.
It is on offer for US$ 52,997.
Your monthly rent is US$ 850.
Your net yield is 15.29%.
That’s US$ 8,105 in your bank account every year.
Want full details?
Simply reply to me.
Fitzgerald is in West Detroit next to upmarket Bagley and the University District.
It is a great place to invest because the neighborhood is undergoing a US$ 30,000,000 revitalization project.
That means there is plenty of demand from home owners and tenants.
So property prices and rents are on the rise.
This property is only 1.3km (0.8 miles) from Marygrove College and a 5 minute drive to University of Detroit Mercy.
And just a 10 minute drive to Detroit Golf Club and Palmer Park.
The house has 3 bedrooms, 1 bathroom, a living room, a kitchen, a 600 sq. ft. basement and a 3,049 sq. ft. garden.
It is on offer for US$ 47,495.
Your rent is US$ 800 per month.
Your rental yield is 16.13% net.
That’s US$ 7,660 in your pocket every year.
Want to know more?
Just reply to me.
East English Village is a middle class neighbourhood on the Eastside of Detroit.
It is 17km from Downtown Detroit – an 18 minute drive.
This property is 1km (0.62 miles) from the top ranking East English Village Preparatory Academy which opened in 2012 at a cost of US$ 46,300,000.
Messmer Playground and the shops, banks and restaurants on Mack Avenue are a 10 minute walk.
The house has 3 bedrooms, 2 bathrooms, a living room and a kitchen.
There is also an 800 sq. ft. basement and a 5,227 sq. ft. garden.
This property is on sale for US$ 64,995.
Your rent is US$ 850 per month.
Your net return is 11.05% – after all expenses.
That’s US$ 7,185 in your hand every year.
If you would like to know more – simply reply to me.
Remember all our USA investment properties are:
- Fully renovated – average cost of works US$ 20,000
- Freehold with full warranty deed
- Already tenanted with pre-screened tenants – you get paid from day one
- Professionally managed – your rent is paid on time into your own bank account
Plus, with our Detroit properties you get all this completely free:
- Free Title Insurance – value US$ 499
- Free 1 year Property Insurance – value US$ 495
- Free 12 month Home Warranty – value US$ 700
Total value = US$ 1,694.
I won’t offer you unrealistic guarantees which can’t be fulfilled, like some people I could mention.
But I do promise you…
- Your vacancy rates will be very low (last 3 years 3.58% average)
- You will always get paid what you are due
- I will stay right by your side for as long as you own your property
It doesn’t matter if it’s 3 months or 30 years – if you have a problem I’ll be here to help.
Because I know that if you get the returns you are expecting you’ll come back for more.
You might even refer your friends and family, if I’m really lucky.
And unlike many of my competitors I don’t charge you a finder’s fee, an enabling fee or an arrangement fee.
In fact I don’t charge you any fees at all.
So if you would like full details of what’s on offer in Detroit – just reply to me.
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