Real estate Detroit Michigan USA

Real Estate in Detroit

  • Property from US$ 31,000
  • Already tenanted
  • Rental returns 16% to 19.2% net
  • Prices at their lowest since 1993
  • High capital gains
  • Newly refurbished
  • High quality, 3-bedroom, brick built homes meeting government standards
  • Easy to manage, hassle free investment

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Why does it make sense to invest in Detroit?

It’s no secret that Detroit was hit hard by the recession.

Massive job losses meant people could not pay their mortgages and foreclosures hit an all time high.

As a result house prices fell to their lowest since 1993.

Today, even when people can afford a mortgage, banks are too scared to lend.

So these people are forced to rent.

This means there is a huge demand for high quality rental homes in good areas.

Now is the time to take advantage

Detroit is starting to recover.

Unemployment rates are falling.

House prices are rising.

But prices are still at their lowest since 1993.

And the average rent for a 3 bedroom home in a middle-class area of Detroit is US$ 900 a month.

This means you can earn a rental income of 16% (net) and often more.

Remember, that is net – after management fees, property taxes and insurance.

Plus, all properties have tenants in place.

So you earn an income from day one.

Strong Capital Growth

Today you can buy high quality, 3-bedroom homes in middle-class areas of Detroit for a fraction of what they were worth just a few years ago.

But house prices in Detroit have already started to rise and sales are increasing.

According to the National Association of Realtors, in the last 12 months the average price of property in Metro Detroit has risen by 7.7% to US$ 70,000.

This is still far below the 2005 average of US$ 172,000 – so it leaves you plenty of room for capital growth.

In September 2011, sales increased by 8.2% over 2010.

In October 4,176 homes were sold compared to 3,983 in 2010. A rise of 4.8%.

And in November multiple listing service Realcomp II Ltd. reported property sales in Metro Detroit rose for the fourth month in a row:

“After four months of consecutive gains in the local housing market, we can probably say it’s the start of a recovery,” said Realcomp CEO Karen Kage.

As the economy improves and banks start to lend again, demand will increase considerably.

This means you will benefit from high capital growth and have a large target market to sell your property to when you are ready.

Big business has already noticed the opportunity and is investing millions of dollars in Detroit.

Once banks start to lend again prices will rise quickly and this opportunity will be gone.

Easy to manage, hassle free investment

These properties have been completely refurbished often with new roofs, re-wiring and plumbing.

They are certified to meet current US Government health and safety regulations.

This means you don’t need to worry about any costly repairs or maintenance bills in the next few years.

A top Detroit management company with many years of experience looks after everything for you.

They will find you new tenants if you need them.

They’ll make sure your house is well maintained.

They will collect your rent and pay your money into your bank account. This can be in the US or anywhere in the world.

On top of that, you get access to a 24 hour help line – so you can call anytime.

You also get your own website login where you can access your monthly account statements, your signed contracts with tenants, your property tax receipts, your maintenance quotations and bills, a copy of your management agreement and inspection reports for your property.

Location, Location, Location

As with any city there are good and bad areas.

The properties we offer are all in middle-class suburbs of Detroit.

They are close to major highways, good schools and amenities in desirable areas where respectable families want to live.

We can provide the address for every property we offer so you can see the location for yourself, thanks to Google Street View.

What type of property can you buy?

Real estate Detroit Michigan USA

8906 Braile Street

Warrendale

North West Detroit

Last sold for US$ 107,784

(February 2010)

Current Price US$ 46,500

This 3 bedroom, 1 bathroom property is typical of the type of house you can buy.

It was built in 1930 and has recently been refurbished, including a new roof, new plumbing, re-wiring, interior painting and re-finishing.

The Location

The house is in Warrendale – a middle-class area of Detroit.

It is next to Rouge Park and a short walk from Warren Avenue which is home to many small shops and businesses.

This property is close to major roads including the Southfield Freeway.

And it’s just a five minute drive to Rudiman Middle School and Cody High School.

Previous Price

The house was last sold on 25th February 2010 for US$ 107,784
(Source: Detroit Department of Public Records).

Today you can buy it for just US$ 46,500 – saving you US$ 61,284.

Rental Yield

The house has tenants paying US$ 950 per month.

Your rental yield is 16.5% net – after all management fees and taxes.

Braile Street, Detroit PriceUS$ 46,500
Annual Rental IncomeUS$ 11,400
Management FeeUS$ 1,140
Annual Property Tax and InsuranceUS$ 2,600
Net Annual IncomeUS$ 7,660
Net Return16.5%

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