CHARMING Off Market, Complete Remodel, $850 Rents, Sect 8 Tenant

[Chris Ramos]

CHECK OUT THIS REMODEL, COMPLETE TURN KEY SERVICE PROVIDED WITH TENANT GUARANTEE !!

PROPERTY DETAILS

PROPERTY DETAILS

Purchase Price: $60,000.00

Address: 27035 New York St, Inkster, MI 48141

Bed: 2

Bath 1.00

Living Area (approx sq. ft.): 1000

Parking: 2 CAR DETACHED GARAGE

Year Built: 1950

Lot Size (approx sq. ft.): 6534

AREA INFO:

Inkster City is on the rise and we are excited to be a part of it!

Our company is one of just a few approved companies that is working directly with the city, mayor and building department in an effort to improve the city one block at a time. We're literally changing neighborhoods!

Inkster is a small affordable residential community surrounded by opportunity. Sitting just west of Detroit and only a few miles from the International Airport. With the bustling cities of Dearborne Heights, Taylor, Westland and Romulas surrounding it.

Comprised of mostly 2 and 3 bedroom homes Inkster is undergoing a transformation of youth. Young families are finding affordability with ease of access to downtown Detroit, Ford Manufacturing Facility and Detroit Wayne Metro Airport with a quiet suburban lifestyle. In 2016 the planning phase to connect the University of Michigan to Wayne County Airport and Downtown Detroit began. This project will include a light rail and main station in Inkster City drawing more families and development to the city. This is sure to cause property values to increase in the near future.

REMODEL REMARKS:

SECTION 8 TENANT

COMPLETELY REMODELED WITH NEW:

• FURNACE
• HOT WATER HEATER
• CARPET THROUGHOUT
• KITCHEN CABINETS, SINK, AND COUNTERTOP
• TILE KITCHEN FLOORING
• BATHROOM VANITY, MIRROR, AND TOILET
• TILE BATHROOM FLOORING
• PLUMBING AND PLUMBING FIXTURES
• ELECTRICAL PANEL AND ELECTRICAL FIXTURES
• INTERIOR AND EXTERIOR LIGHTING
• VINYL WINDOWS AND BLINDS
• INTERIOR TWO-TONE PAINT
• DOORS AND HARDWARE

FULL BASEMENT WITH GLASS BLOCK WINDOWS

CASH FLOW ANALYSIS

850.00 Monthly Rent

$10,200.00 Gross Rents
-$1,020.00 ((10%)) Property Management Fee
-$1,441.00 Taxes
-$ 0.00 Utilities
-$510.00 Minus Vacancy (5%)
-$1,020.00 Minus Repairs, Maintenance, City Fees, Etc. (10%)
-$306.00 Minus Leasing Fee (3%)
-$0.00 Lawn Care
-$500.00 Insurance

$5,403.00 Net Rents divided by

$60,000.00 Purchase Price equals

9.01% ROI

COMPS

Property Address	Purchase Price	Date Sold	Beds	Baths
27053 Norfolk, Inkster MI	$66,000	01/25/2018	2	1
26641 New York, Inkster MI	$65,780	03/14/2018	2	1