💰Great Rental Opportunity💵
4/2 SFH, Needs Light Rehab!🔨
Buy: $75,000
ARV: $125,000
Rent: $1,100
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Key Features:
- 🏡 4 bed, 2 bath
- ♨️ Heating: Forced air, Gas
- 🌳 Lot:4,356 sqft
PRIVATE LENDING
Are you interested in private lending for this deal or any deal? We can help. Call or text us for more information!
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Property Details
This is a cheap 4-bedroom, 1.5-bathroom home in Detroit, MI 48238, priced at $75,000 with an ARV of $125,000. This off-market deal offers an excellent rental property with minimal to no renovation required. It is currently rented on a month-to-month basis for $1,100, with the potential for rental income to increase to $1,400+ per month.
Comps:
18982 Kentucky St, Detroit, MI 48221
Sold on 05/28/24 $170,000
13553 Monte Vista St, Detroit, MI 48238
Sold on 05/24/24 $125,000
PRIVATE LENDING
Pros
- Rental: Already rented, generating immediate income.
- Minimal rehab: Little to no renovation required.
- Upside in rent: Rent increase potential of $300+ per month.
- Strong ROI: Significant appreciation potential with a low purchase price and solid ARV.
Investment Strategies:
Buy and Hold: Purchase the property, maintain the tenant, and gradually raise the rent to reflect market rates, boosting long-term cash flow.
BRRRR: Buy, rent, refinance, and repeat, using the equity from the ARV for future investments.
Flip: With minimal renovation costs and a strong ARV, this property offers a solid margin for a flip.
Conclusion: The property is an attractive investment with a low entry price and significant upside. Whether for cash flow or future equity, this property provides flexibility and profitability, making it ideal for both seasoned and new investors.
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DISCLAIMER:
- All offers are Cash or Private Lender Only.
- Deposits for all properties are non-refundable.
- Properties are sold AS-IS with NO inspection period; Please inspect first.
- Buyer pays all closing costs for buyer and sellers.
- Rehab Estimate, Projected Rent, and ARV are ESTIMATES based upon the analysis and opinion of Citywide Investments, LLC, actual repair cost, rent, and/or ARV may vary.
- Citywide Investments, LLC is not a licensed contractor or appraiser.
- Taxes, Insurance, and Closing Costs are estimates. Actual cost may vary.
- Seller has an equitable interest in this property and is advertising the sale of this contract as it is assignable.