future for ypsilanti, michigan?

Question

wondering why ypsilanti is still stuggling if towns like brighton, howell, milford, and fenton are taking off...

ypsilanti is super close to AA, prime location for a transition from wayne country's population to a college town that has 100yr+ multiplexes that go for $700k.

yes, there is a large minority population in ypsi, but wondering what the future of downtown is.

thoughts?

Stewart Beal · Answer

Hi George I live in downtown Ypsilanti and I would say that Ypsilanti is not struggling and is in the process of taking off.  I have been working in downtown Ypsilanti for 10 years and own 60 properties in which there are 300 apartments, I also manage an additional 100 properties for others.  I couldn't be more excited about the future of Ypsilanti.

Douglass Benson · Answer

Ypsi makes a lot of sense to me.  My daughter lives very close to the Ypsi border on the Ann Arbor side.  Ann Arbor presents some pricing issues that Ypsi doesn't.  There might also be a concession to culture as compared to AA, but that isn't on everyone's criteria list for a place to stay or a place to visit.

We went to a bar/restaurant near downtown.  That place was rockin'.  Great food, good atmosphere and completely safe feeling as well.  I invest close to where I live, so Ypsi is out for me, but it makes a lot of sense for investors that aren't limiting themselves like I do!

Joe Villeneuve · Answer

Ypsi/Ypsi Twp, is one of my top 3 places to invest in for CF and Flips.

George P. · Answer

that's a great building. looks super cool. i love the brick.

walk me through evaluation of something like that. it says 10% cap, other than the piti/insurance what else do you look at for a dual use?

Tony Dixon · Answer

I have lived in both Ypsi-City and Ypsi-Twp. over the past 8 years. I've also worked and lived in A2 in the past and to me all have their strengths and non-strengths.

But, to the point of the original post, Ypsi-City is a rebounding community that is growing stronger thanks to people like Stewart Beal, Tyler Weston and David Palmer's efforts on the Real Estate front. And my lenders give the green light to both Ypsi City and Twp. in a heart beat. Savvy investors are making market priced properties disappear quickly in the area.

And don't even mention a Ford Lake property! Most of those never make it to the MLS.

Bottom line, don't sleep on Ypsi. If you get a chance, research it and make your decision based on the numbers. The reality is that with many new businesses and new developments coming to Ypsi, it  is becoming an affordable alternative to Ann Arbor.

Keri Middaugh · Answer

I just saw that 114 W. Michigan is for sale for $259,900.   Stewart, is this one of yours?  Here is the description:  Welcome to beautiful downtown Ypsilanti! This immaculately maintained historic building features over 1800 square feet of retail space and two beautiful apartments on the second floor. This would be a great opportunity for an investor, or an owner occupant with a monthly income of $2,450 and all tenants interested in staying. This building is as beautiful as advertised and is sure to impress.

I'd love to see something wonderful go in here!

Keri Middaugh · Answer

I've lived in Ypsi for the past 13 years or so, and here's my take on it.  The city of Ypsi has some culture but the property taxes are very high due to the fact that EMU comprises such a large part of the land.  Ypsi township is cheaper but lacks culture and character.  Then, there is the big brother/little brother tension with Ann Arbor, plus the vacant warehouses.  All that said, those who love Ypsi REALLY love Ypsi and are very loyal.  I plan to invest here!

George P. · Answer

I looked a a duplex maybe 3 yrs ago thay was listed for 69k if I remember correctly.  it was within a walking distance from the  hospital. both units and the surrounding streets seemed section 8 area to me.  that didn't leave me with a good impression of Ypsilanti but then again besides that time I had never been there before

future for ypsilanti, michigan?

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