North Detroit Colonial with Strong Comps for Growing Area

[David Hicks]

Call (313) 600-0000 or email: [email protected] - for questions or if you are interested in this property!

We are selling an assignable contract for the property listed. Seller wants at least 30 days, but closing is set before 5/15/2018. Plenty of time to map out your plans for this home and align your funding.

Because of the privacy requests from the seller, we are only showing this to investors that can show POF and are willing to pay a 24hr refundable deposit the day of showing. We are not accepting any "tire kickers" on this one. Serious investors only. If you have the funds and want to take advantage of this growing area of Detroit, then this property is for you. We will sign a showing agreement and take your 24hr refundable deposit at the title company prior to the day of showing. You will then have 24 hrs to decide if you want to move forward with the purchase. If you want to move forward then your deposit will be rolled into escrow for closing. Your deposit does not hold your spot, however we will be refunding all deposits if another offer is accepted prior to the end of your 24hr period

***You pay all of seller's closing costs besides any back taxes or unpaid liens/utilities***

**Price has been adjusted based off of most recent comps (within 6 months) along the "West Outer Drive Corridor"***

This home includes a large lot and plenty of space for a family to grow or for a great rental property. Needs some cosmetic work and possibly a new roof, but mechanics are great. Estimated rehab between $20-30k, your ability to maximize your budget will tell you how much beyond a 20% ROI you can achieve. Price has built-in Realtor and Closing costs on the back-end.

Comps:

1) 19199 PENNINGTON Drive, Detroit 48221

2) 19530 ROSELAWN, Detroit 48221

Landlords - this presents an opportunity for the BRRR on a cash-out refinance. Rents will pull in around $10k per year. Your initial investment = 15+% ROI or a BRRR with around a $5k cash-out including all initial investments and still pull in $4k per year!!!!

Rentometer Analysis (https://www.rentometer.com/analysis/3-bed/4300-west-outer-drive-detroit-michigan-48219/13U2FZjYyEo)