What are you charging for rent in Detroit?

[Anthony Watkins]

What are you charging for rent in Detroit? What zip code? How many bedrooms? Is it a section 8 tenant? I've been doing some research, running some numbers and at $800-$900 per month plus repairs plus the ridiculously high property taxes I would barely cashflow as a new out of state investor.  How are you making it work? Is Detroit even worth my time. (I'm originally from the Detroit so I know how rough it is)

And if you are one of the lucky ones who managed to purchase 15 houses for $10K back in 2010 thanks but no thanks (just kidding) 

[Drew Sygit]

3 beds in Detroit are now going for $950+. We've gotten $1200 for ones in the better neighborhoods.

If you're from Detroit, you should know better than to reference zip codes! A city built for 2M with less than 1M current population means a lot of Class D areas average investor should stay out of. A lot of Detroit is still block-by-block even in the Class C areas. So, you gotta know the NEIGHBORHOODS.

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...