Cortland Street - 4 bedroomed investment property in Detroit, US.

This is a four bedroom, 3 bathroom mansion style property, with detached double garage. Property was built in 1929, is 2000 sq ft built with a plot size of 4791sqft. The value of the unit was estimated in 2007 at close to $150000. Russell Woods is one of the most well known neighborhoods in the city, with a rich cultural past.

The Motown artists such as the Supremes and Marvin Gaye were among this neighborhood’s prominent residents. Driving through the streets of Russell Woods today, you can tell why this area was so popular with Detroit’s elite. The towering brick homes that line streets like Cortland and Sturtevant St. are perhaps the best example of Detroit architecture. Among the advantages the residents enjoy are the numerous parks in the surrounding areas such as Russell Woods Park.

Cortland Street - The Investment
- Currently rented to a pre-screened, up to date tenant for $1,050 per month.
- Yearly taxes of $2,050
- Gross yearly income $12,600
- Yearly management fee $1,260
- Net annual rent roll $9,290
- Net Yield = 16.4%

Cortland Street - Location and investing in property in Detroit
Investing in Detroit provides incentives not offered anywhere else in the world.
Quality-The recent economic downturn has presented a unique opportunity in many hard hit housing markets. However, the quality of Detroit homes is unmatched. Large, well built brick homes line the streets of the city and are being sold at bargain levels. Each of our homes is fully refurbished and updated, and go through a detailed screening process before being selected.
 
Return - With millions of federal dollars invested in the city, urban revitalization is fully under effect. Several government programs have been set up to provide investors with a large pool of potential tenants. These tenants have guaranteed income which can be sent directly to the home owner. With programs such as Sec. 8, which pays above market value monthly rent, return on your investment dollar is unprecedented.
 
Turn key - All of our properties are diligently maintained and managed by a fully accredited property management firm. Our Detroit management team is located in the heart of the community, providing you with a knowledgeable and professional staff on location. We deal with the tenants directly on your behalf and oversee the daily tasks associated with your property.
 
Simplicity - Investing in Detroit couldn’t be easier, and we provide you with clear and precise updates to track your investment. Monthly statements and documents are accessible online with the click of a button. Our staff will work with you every step of the way, answering any questions you may have.

Detroit is located in the Mid-Western United States, and is the largest city in the State of Michigan. Detroit has long been the industrial capital of the United States. The automotive boom at the turn of the 20th century attracted flocks of migrants from across the USA who settled in the Motor City. With the auto companies as anchors, businesses sprang up in and around the city creating one of the most vibrant metropolitan areas in the country. Today, Metro Detroit is home to over 5 million people and is still a hub of industry and commerce.