Detroit Triples the National Return on Investment

By Yasmine Elamali on January 5, 2018 7:15 pm

0 CommentsMarket, Opinion, Real Estate

At 10% national average, the real estate market return on investment for landlords is roaring in Detroit with a stupendous 30% gross annual return from rents.

As we notice the occupancy rates and rents are escalading in value, the Detroit market can only be described as an intensifyingly profitable hub for eager real estate investors. Attracting a flock of them is mostly the ultra-low prices they pay for rather sizeable homes. A 6 bedroom home can be purchased in the waters of a gentle $50,000. The low acquisition prices attract investors from all over the nation and even international seeders. A strong occupancy rate of 98% is pushing the rents higher and making the investments even more favorable to landlords.

Thus the low prices of the properties usually hide some extra maintenance and renovation costs, even with that factored in the houses can be fixed up pretty affordably and the contractor labor is less expensive than in the neighboring states and a considerable drop in rates compared to cities such as San Francisco and New York.

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By: Yasmine

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