15% Returns in Detroit Suburbs (Redford) - Minor Rehab Needed

[Isaac Taylor]

Detroit Investment Property Overview – Redford,MI

• Market: Metro Detroit Area
  
• Listing Price: $99,900
• Rehab Estimate: $5,000
• Address: Leverne, Redford, MI 48239
• Beds / Baths / Sq Ft: 3 beds / 2 bath / 1,102 sq ft
• Property Description: Opportunity awaits with this solid brick ranch that is situated just a skip and a jump from Thurston High School in the heavily sought after Ridgemont Homes sub. 3 bedrooms upstairs with 1.5 bathrooms and a full finished basement with a rec area and a den or 4th bedroom. Large spacious lot with a 2 car garage. Ceiling fans in all the rooms. Hardwood underneath the carpeting and much more.

Financial Summary - Click here for more details!

At Listing Price Purchase Price: $99,900 Rehab: $5,000 Closing Costs: $2,997 Total Investment: $107,897 Financed Amount: $79,920 Cash Investment: $27,977 Annual Revenue: $12,600 Annual Expenses: $7,136 Interest: $3,996 Net Income: $1,469 Annual Return: 5% Annual Appreciation: $2,098 Total Return Potential: 13%

At Recommended Price Purchase Price: $90,000 Rehab: $5,000 Closing Costs: $2,700 Total Investment: $97,700 Financed Amount: $72,000 Cash Investment: $25,700 Annual Revenue: $12,600 Annual Expenses: $7,136 Interest: $3,600 Net Income: $1,865 Annual Return: 7% Annual Appreciation: $2,098 Total Return Potential: 15%

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