Here's an excellent opportunity to add an affordable, income-producing property to your portfolio! Priced at just $49,000, this 2-bedroom, 1-bath Detroit home is currently occupied by a long-term tenant of approximately 12 years, paying $900 per month ($10,800 annually) in rental income.
Several major improvements have already been completed, including a roof replaced approximately one year ago, sewer main replaced approximately three years ago, and interior updates completed approximately 10 years ago.These improvements provide a solid starting point for investors looking to maximize returns.
At the asking price of $49,000, the property offers an impressive 22% gross annual rental yield, before operating expenses! With estimated market rents potentially reaching $1,100+ per month, there may be additional cash-flow upside over time, subject to market conditions and applicable rental agreements.
For flippers and value-add investors, the property also presents an opportunity to build equity through strategic renovations and future resale.
Whether you're looking for immediate rental income, long-term appreciation, or your next investment project, this property checks plenty of boxes!
Tenant occupied. Sold AS-IS. Buyer to verify all information, rental income, property condition, and investment potential.
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ARV $55,000
From the listing
The seller picked no comps. Investimate’s own value for this home is $73,000.
