Updated over 6 years ago on . Most recent reply
How Hot is Bagley, Zip 48112
Its smoking hot, I have now purchased two very nice properties in the best pockets of Bagley
So I purchased at $42,000 and $64,000. We are now seeing comparable sales at round $140,000+, very much dependent on location and size of the property.
My view is that University District next door is selling for over $220,000 and buyers, homeowners are priced out and, its the ripple effect, investors, home buyers jumping into the next area which has a significantly lower median house price.
This one sold 10 months ago, however, I expect it to be worth more today, but below are some comps.
Interesting times in Detroit. If you flip you want to make sure there is plenty of fat in the game and buyers are at the right price point. I don't believe Bagley is a hold now as prices have soared, unless you have deep pockets, I guess that strategy is hold, its an appreciating market so it will be worth more in 18 months? The rents around $1000-1100? dependent on condition, location and size
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More ? what does this bring you up to, Marisa ? you're a machine.... did you buy two more sfr's ? considering you're holding many properties I'm wondering how you've financed these last two acquisitions ? did you partner up ? what do you see your arv as being ? brrrr ?... inquiring minds must know !