Detroit property example 2
19329 Pinehurst Detroit, MII
Location: Detroit
Purchase price: $50,000
Substantial 4 bedroom 1.5 bathroom brick colonial located in first class (Bagley) area of Northwest Detroit
Overview:
Lawn lights and stylish brick homes adorn the streets of Detroit’s Bagley neighborhood. A perfect example would be Pinehurst Street, where you can find this impressive 4 bedroom colonial. A testament to Detroit’s rich architectural past, this home has serious curb appeal. This area has long been home to Detroit’s middle class families because of its small businesses and educational institutions. Mumford High School as well as Marygrove College is within walking distance and the Detroit Public Library is a short drive away. Major roads within the vicinity include McNichols Rd, as well as the Lodge Freeway.
Beds: 4
Baths: 1.5
Garages: 1
$50,000
Financials
Currently rented to a pre-screened, up to date tenant for $1000 per month.
- Yearly taxes of$2,200
- Gross yearly income$12,000
- Yearly management fee$1,200
- Net annual rent roll$8,600
THE DETROIT ADVANTAGE
Investing in Detroit provides incentives not offered anywhere else in the world.
Quality-The recent economic downturn has presented a unique opportunity in many hard hit housing markets. However, the quality of Detroit homes is unmatched. Large, well built brick homes line the streets of the city and are being sold at bargain levels. Each of our homes is fully refurbished and updated, and go through a detailed screening process before being selected.
Return-With millions of federal dollars invested in the city, urban revitalization is fully under effect. Several government programs have been set up to provide investors with a large pool of potential tenants. These tenants have guaranteed income which can be sent directly to the home owner. With programs such as Sec. 8, which pays above market value monthly rent, return on your investment dollar is unprecedented.
Turn key- All of our properties are diligently maintained and managed by a fully accredited property management firm. Our Detroit management team is located in the heart of the community, providing you with a knowledgeable and professional staff on location. We deal with the tenants directly on your behalf and oversee the daily tasks associated with your property.
Simplicity- Investing in Detroit couldn’t be easier, and we provide you with clear and precise updates to track your investment. Monthly statements and documents are accessible online with the click of a button. Our staff will work with you every step of the way, answering any questions you may have.
OVERVIEW OF DETROIT
Detroit is located in the Mid-Western United States, and is the largest city in the State of Michigan. Detroit has long been the industrial capital of the United States. The automotive boom at the turn of the 20th century attracted flocks of migrants from across the USA who settled in the Motor City. With the auto companies as anchors, businesses sprang up in and around the city creating one of the most vibrant metropolitan areas in the country. Today, Metro Detroit is home to over 5 million people and is still a hub of industry and commerce.