Rouge Park, Detroit - 14 Contracts/Offers

[Marisa R.]

Hi All

This is my latest purchase  in Rouge Park, Detroit, a desirable location.

Posting this thread will  give you all an indication on just how HOT this market is. 

This house is just an average home but it is pretty much rent ready.

This property went down the road of highest and best, with 14 contracts.

I secured and closed on this yesterday.

Purchase Price - $38,000

I expect rental income will be somewhere around $750-800 per month.

On my calculations/numbers I expect approximately 14% net returns. Not planning to sell as I expect appreciation to work its magic for me. Don't you love rising markets.