9894 Balfour Rd, Detroit, MI 48224
Stunning 3 bedroom and 1 bathrooms brick bungalow, finish with hardwood flooring on the main floor and carpet upstairs, nice fireplace. 1 car detached garage. Across from school, playground. Situated in a nice neighborhood.
The Zillow estimated value for this property is $33,702 and this value it’s estimated to rise by 2.1% for the next year.
Purchase Price: $30,000
Annual Rent: $8,400
Annual taxes: $1,700
Annual Management: $714
Estimated Insurance premium: $500
NET INCOME: $5,486
ROI (net cash on cash return) 18.3%
Projected sale price in 5 years $37,000
Combined return over 5 years $34,430
Combined ROI per year $6,886
Combined ROI % per year over 5 years 22,9%