Detroit Real Estate Investment Opportunity 16574 Oakfield, Detroit MI 48235

 

Turnkey Investment Opportunity

 

16574 Oakfield, Detroit MI 48235

Picture Slideshow: https://www.youtube.com/watch?v=FyMVZBjTOuk

 

Video Tour: https://www.youtube.com/watch?v=GISdFmV5K2w

 

Pictures:  https://www.dropbox.com/sh/xhhnmp957ultnrg/x6mcuKthkW

 

ü       Great Brick Colonial with 3 Bedrooms, 1 Bath and a Full Basement

ü       No Work for you! Completely Remodeled and Tenanted for $850 per month to a Prescreened Section 8 Tenant with Professional Property Management

ü       Located in Beautiful Subdivision on the West Side Detroit near Rosedale Park, one of the most sought after neighborhoods in Detroit

ü       Easy access via M-39 & M-10 Expressway & Close to Wayne County Community College

ü       Surrounded by Parks and Close to several Shopping Centers

 

Features:  

§         Bedrooms: 3 

§         Bathrooms: 1

§         Single Family: 1,189 sq. ft.

§         Lot Size: 10,018 sq. ft.

§         Year Built: 1940

§         Parking: 1 Car Garage

§         Exterior: Brick

§         New Furnace

§         New Water Heater

§         New PEX Plumbing

§         Refinished Hardwood Floors

§         New Carpet

§         Fresh Paint

 

Financial Details

 

Monthly Income

Rent: $850

 

Monthly Expenses

Taxes: $139.82

Insurance: $51

Property Management: $85

(Vacancy & Maintenance: $85)

 

Total Expenses: $275.82

(Total Expenses with Vacancy & Maintenance: $360)

 

Monthly Cash Flow

$574.18

($489 with Vacancy & Maintenance)

 

Annual Cash Flow

$6,890.16

($5,868 with Vacancy & Maintenance)

 

Price: $45,000

 

Return-on-Investment: 15.31%

(Return-on-Investment with Monthly Vacancy & Maintenance: 13.04%)

 

 

 

 

To reserve this property, please contact Ian Watts at iwatts@piersonandcompany.com or by calling 313-744-2003