DETROIT,MICHIGAN 48221 LOW ENTRY $20k POSITIVE CASH FLOW NICE BUY & HOLD

Wayne County, Detroit, MI, 48221 view full address
For Sale
Listed at: June 24th, 2024
Price
$20,000
ARV
$136,000
Sq. Footage
1300
Type
Single-Family
Parking
Driveway
Year build
1927
Lot size
0.07 acres
Bedrooms
3
Bathrooms
2
Half Bathrooms
1
If someone buys for this price, no more offers will be accepted
Summary

🏡 Property Highlights:

- 🏡 Beautifully remodeled home in the desirable Fitzgerald subdivision

- 🛁 Features 2 fully remodeled bathrooms

- 🔥 New furnace and hot water heater installed

- 🌞 Large covered front porch, ideal for relaxing

- 📍 Located near Marygrove College and the Bagley District

- 🚀 Up and coming community with growth potential

- 3/2 1300 sqft.

- no repairs needed

💹 Financial Overview:

 

🏷 Purchase Price: $129k.

💲 Entry Fee: $20K + closing costs. (includes cash to seller, commission/assignment)

📊 Monthly PITI: $1,333. No balloon payments. Interest Rate 4.8%

🗓 Closing Date: On or before July 17, 2024

💵 EMD: $4000.

🛎 Ready to Move In:

✔️ Vacant at close

Potential exit plans:

Wrap the home to an end buyer

wrap @ 495k with 40k down @7.95% 

$3322 per month principal and interest

LTR

$1500+ Rentometer Report Click below

20240623-Rentometer-16659_Lilac_St_Detroit_MI_48221_USA-3-bed-oK3KQX1uLoA.pdf

STR

25k-30k per awning

MTR

N/A

CALL ME FOR INFO 661-332-0452 AJ for showing feel free and call me as well

 

Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact