UPDATED:
Key Details
Property Type Single Family Home
Sub Type SingleFamilyResidence
Listing Status Active
Purchase Type For Sale
Square Footage 1,306 sqft
Price per Sqft $38
Subdivision Flower Park
MLS Listing ID 20251046857
Style Ranch
Bedrooms 2
Full Baths 1
Year Built 1945
Lot Size 3,920 Sqft
Acres 0.09
Property Sub-Type SingleFamilyResidence
Property Description
Here's what you're about to make with me. Rental comps in my area support about $1,250 per month, giving you roughly $15,000 in annual gross income. On a $50K acquisition, that puts you at a 30 percent gross yield. Even after standard operating expenses, you are realistically looking at a net cash on cash return in the 20 to 25 percent range, depending on how you structure your purchase. I can easily qualify for Housing Choice Voucher programs like Section 8, giving you the option of consistent, reliable payments if you choose that lane.
My location adds even more weight to the numbers. I sit in Detroit's Osborn area with quick access to major employment anchors like DTE Energy - Lynch Road Service Center, Coleman A. Young International Airport, Henry Ford Hospital, Detroit Medical Center, and Ascension St John Hospital. I'm also within reach of Brenda Scott Academy, Wayne State University, University of Detroit Mercy, and other institutions that help keep the tenant pool strong and steady. Retail, groceries, restaurants, parks, and transit are all close enough to boost desirability without adding cost.
You've already run the math in your head. You know I check the boxes. Reach out to the listing agent and make it official, because you and I are about to perform exactly the way an investor hopes a property will
Location
State MI
County Wayne
Area Area05054Det8Togratiothoustonto7
Rooms
Basement Full, PartiallyFinished
Interior
Heating ForcedAir, NaturalGas
Cooling CentralAir
Fireplaces Type LivingRoom, WoodBurning
Laundry LaundryRoom
Exterior
Parking Features OneCarGarage, Detached, Driveway
Garage Spaces 1.0
Pool None
View Y/N No
Garage true
Building
Foundation Basement, Block
Sewer PublicSewer
Water Public
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Senior Community false
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition ShortSaleNo, Standard
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