Double-Digit Returns on Detroit Duplex

[Isaac Taylor]

DETROIT INVESTMENT PROPERTY OVERVIEW

• Market: Metro Detroit Area
  
• My Valuation: $14,185
• Rehab Estimate: $12,000
• Address: Snowden, Detroit, MI 48227
• Beds / Baths / Sq Ft: 4 beds / 2 bath / 1,944 sqft
• Property Description: Two-family flat with 2 bedrooms in each unit. The property is vacant and in need of a several repairs prior to moving a tenant in.

FINANCIAL SUMMARY - Click for Detailed Breakdown

I assumed that an investor will purchase this property with 75% of the total investment financed at a 5% interest rate.

Low Rehab Cost Recommended Price: $14,185 Rehab: $12,000 Closing Costs: $426 Total Investment: $26,611 Financed Amount: N/A Cash Investment: $26,611 Annual Revenue: $13,200 Annual Expenses: $6,763 Net Income: $6,437 Annual Return: 24%

High Rehab Cost Recommended Price: $14,185 Rehab: $18,000 Closing Costs: $426 Total Investment: $32,611 Financed Amount: N/A Cash Investment: $32,611 Annual Revenue: $13,200 Annual Expenses: $6,763 Net Income: $6,437 Annual Return: 20%

Want to Learn More About This Property?

• Find Out About the Neighborhood: Median Income, Poverty Rate, Unemployment Rate, % of Renters, Etc.
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