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GentleChief

Detroit Investments

Detroit Investment - 7646 Fielding St - Warrendale sub division

Detroit Investments
GentleChief, 17th Feb, 2018
dereklotts likes this.
    • GentleChief
      7646 Fielding St in Warredale subdivision - closed with
      Warranty deed.
      1338 sqft - 3 bed 1.5 bath.
      Purchase:
      Assignment price - 22,000
      Overdue Taxes - 7,300
      Rehab - 7,500 (flooring, paint, windows, minor kitchen and bathroom)
      -----------------------------------
      Total Purchase price - 36,800 * Note - This property sold for 105,000 in Aug 2005
      -----------------------------------

      Income:
      Rent - 700 pm (8400 p.a)
      Tenancy - 1 year (couple with child) - paying on time
      -----------------------------------
      Total Income - 8,400 * ROI: 22.7%
      -----------------------------------

      Expenses:
      Tax - 1270 p.a
      Mngmt - 840 p.a.
      Maintenance - 700 p.a. (approx 1 month's rent for calculation)
      Insurance - 540 p.a.
      Vacancy - 700 p.a. (approx 1 month's rent for calculation)
      -----------------------------------
      Total Expenses - 4,050
      -----------------------------------
      Net Income:
      Income - expenses
      -----------------------------------------
      8,400 - 4,060 = 4,350 USD
      -----------------------------------------
      MTR, Karina and C-mac like this.
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  • Category:
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    GentleChief
    Date:
    17th Feb, 2018
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