14.73% = the best cap rate in Detroit!

[Ben Toth]

My colleague and I are selling a package of 42 tenant-occupied homes in Detroit. The cap rate is exceptionally good!

Gross Annual Income: $367,248

Net Operating Income (approximate): $221,000

At an asking price of $1.5M, cap rate is 14.73%!

For Detroit, these are considered high-rent neighborhoods. Here's a link with the rent roll:

https://www.dropbox.com/sh/kfhmc1yfgpvvfpz/AACjMsD...

Agents say this all the time, but this deal truly will not last. Promise. :)