Vacant Brick Detroit, MI 48224
11510 Nottingham Detroit, MI 48224Basics
- Date added: Added 1 year ago
- Category: 48224, good neighborhood
- Type: Brick
- Status: active
- Bedrooms: 3
- Bathrooms: 1.5
- Area: 1376 sq ft
- Lot size: 4792 sq ft
- Year built: 1946
Description
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Description:
This 2-3 Bed/1.5 Bath – Brick Colonial in Detroit will be bought with a Ton of Equity OR as a retail flip for any investor! This property is in solid shape but will need finishing touches throughout to reflect full market value. Whether this is a rental or a flip, you will have a blank slate, walls have been taken down to open the main floor, the upstairs has been turned into a 2 bedroom with a potential main suite, or can be easily converted back to a 3 bedroom. The reno budget will be $40k. As a rental it will rent for $1,450 as a 3 bedroom.
This is a straight forward project that even a new investor will have fun with. Do this with a decent finish out quality & you can expect a $126k or More Retail Sale.
Property Info:
– ARV: $126,000
– Reno Budget: $40k
– Price: $60,000 OBO
– Flip Profit: $29k+
– Market Rent: $1,450
– 11.8% + Annual ROI
– Equity as a rental: $30K+*********************************
Flip Comps:
1) 11468 Beaconsfield St, Detroit, MI 48224
3 bd 1 ba 1,244 sqft
Sold: $119,900 | Sold on 12/22/22 | Sold PPSF: $96.382)10801 Marne St, Detroit, MI 48224
3 bd 2 ba 1,386 sqft
Sold: $150,000 | Sold on 06/17/22 | Sold PPSF: $108.233)11323 Roxbury St, Detroit, MI 48224
3 bd 1 ba 1,468 sqft
Sold: $146,859 | Sold on 01/31/23 | Sold PPSF: $100.04*AVG. Sold PPSF = $101.55
*ARV = $101.55 x 1.244 sqft = $126,328
**********************************
Rental Comps:
1) $1,600/mo | 4 bd 1 ba 1,362 sqft
11435 Balfour Rd Detroit, MI 482242) $1,350/mo | 3 bd 1 ba 1,111 sqft
10940 Balfour Rd, Detroit, MI 482243) $1,525/mo | 3 bd 1 ba 940 sqft
11347 Roxbury St, Detroit, MI 48224**AVG Rental Listing Price: $1,492
*This Property will Rent for $1,450+/Month – all day long.
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