Occupied Duplex Detroit, MI 48235

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 $950/Unit. It only needs $25k for cleanup and unit turns and will rent for $1,900/Mo. total. Current rent is $65o per unit and $1,300/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
ARV: $200,000 at an 8% Cap Rate
Reno Budget: $25k
Price: $125,000 OBO
Market Rent: $1,900
11.1% + Annual ROI
Equity as a rental: $35K+
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Rental Comps:

$1,200/mo | 2 bd 1 ba 876 sqft
19502 Schaefer Hwy, Detroit, MI 48235

$1,150/mo | 2 bd 1 ba 900 sqft
19920 Schaefer Hwy, Detroit, MI 48235

$1,100/mo | 2 bd 1 ba 800 sqft
20041 Meyers Rd, Detroit, MI 48235

**AVG Rental Listing Price: $1,150

*This Property will Rent for $1,000+/Month – all day long.

Basic Annualized Numbers:

*$2,000* 12 = $22,800 * .7 (30% expense ratio) = $16,800 (Net Operating Income)

**Annualized ROI = $16,800 (NOI)/$145,900 (Purchase, Repairs & Closing Costs) = 11.2% Annual Return with $35k+ in Equity!

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Property Highlights:

11.2% Annual Return as a Rental!
Easy Unit Turns
Instant Equity w/ Purchase!
4 Bed / 2 Bath
Quiet area / Desirable Neighborhood
Great Curb Appeal