Basics
Description
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Description:
This 4 Bed/2Bath – Duplex in Detroit will be bought with a Ton of Equity and is a cash cow now and even more so after unit turns! This property is in solid shape as-is but will need miscellaneous updating throughout to receive full market rent of $1,050/Unit. It only needs $20k for cleanup and unit turns and will rent for $2,100/Mo. total. Current rent is $800 per unit and $1,600/Mo total making it a good turn key deal as well.
This is an easy, straight forward project that even a new investor will not have any trouble with. Do the cleanup and unit turns with rental grade finish out quality & you can expect a $200k or More Retail Sale!
Property Info:
Duplex: Two 2 Bedroom 1 Bathroom Units
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ARV: $220,000 at an 8% Cap Rate
Reno Budget: $20k Using a Handyman
Price: $131,900 OBO
Market Rent: $2,100
11.5% + Annual ROI
Equity as a rental: $50K+