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Detroit Metro Area Property in Redford - 24% Returns!

Isaac Taylor · 2017-02-02T06:50:47-08:00

Redford Investment Property Overview Market: Metro Detroit AreaListing Price: $74,900Rehab Estimate: n/aAddress: Chelsea St., Redford, MI 48239Beds / Baths / Sq Ft: 3 beds / 1 bath / 1,232 sqftProperty Description: Beautiful 2 story cape cod featuring 3 Bedrooms, 1 Bath, an updated kitchen with ceramic floors. A mix of carpet and hardwood floors throughout the home and a spacious fenced backyard with a 1 car detached garage.Financial Summary - Click here for more details!At Listing PricePurchase Price: $74,900Rehab: $n/aClosing Costs: $2,247Total Investment: $77,147Financed Amount: $57,860Cash Investment: $19,287Annual Revenue: $13,500Annual Expenses: $7,435Interest: $2,893Net Income: $3,172Annual Return: 16%Annual Appreciation: $1,498Total Return Potential: 24%At Recommended PricePurchase Price: $73,000Rehab: n/aClosing Costs: $2,190Total Investment: $75,190Financed Amount: $56,393Cash Investment: $18,798Annual Revenue: $13,500Annual Expenses: $7,435Interest: $2,820Net Income: $3,245Annual Return: 17%Annual Appreciation: $1,498Total Return Potential: 25%Want to Learn More About This Property? Find Out About the Neighborhood: Median Income, Poverty Rate, Unemployment Rate, % of Renters, Etc.Income Potential: See what similar homes are renting for in this neighborhoodExpense Expectations: See a detailed breakdown of key expenses like property taxes and insurance

Isaac Taylor

Investor · Detroit, MI · Member since 2008 · 66 posts · 11 votes

Redford Investment Property Overview

Market: Metro Detroit Area
Listing Price: $74,900
Rehab Estimate: n/a
Address: Chelsea St., Redford, MI 48239
Beds / Baths / Sq Ft: 3 beds / 1 bath / 1,232 sqft
Property Description: Beautiful 2 story cape cod featuring 3 Bedrooms, 1 Bath, an updated kitchen with ceramic floors. A mix of carpet and hardwood floors throughout the home and a spacious fenced backyard with a 1 car detached garage.

Financial Summary - Click here for more details!

At Listing Price

Purchase Price: $74,900
Rehab: $n/a
Closing Costs: $2,247
Total Investment: $77,147
Financed Amount: $57,860
Cash Investment: $19,287

Annual Revenue: $13,500
Annual Expenses: $7,435
Interest: $2,893
Net Income: $3,172

Annual Return: 16%
Annual Appreciation: $1,498
Total Return Potential: 24%

At Recommended Price

Purchase Price: $73,000
Rehab: n/a
Closing Costs: $2,190
Total Investment: $75,190
Financed Amount: $56,393
Cash Investment: $18,798

Annual Revenue: $13,500
Annual Expenses: $7,435
Interest: $2,820
Net Income: $3,245

Annual Return: 17%
Annual Appreciation: $1,498
Total Return Potential: 25%

Want to Learn More About This Property?

Find Out About the Neighborhood: Median Income, Poverty Rate, Unemployment Rate, % of Renters, Etc.
Income Potential: See what similar homes are renting for in this neighborhood
Expense Expectations: See a detailed breakdown of key expenses like property taxes and insurance

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