[Calc Review] A diamond in the rough? - Metro Detroit Duplex report

Detroit, Michigan
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[Calc Review] A diamond in the rough? - Metro Detroit Duplex report

William TaylorPro Member
Member since 2022 · 15 posts · 2 votes

Hey there BiggerPockets members, 

I'm an upcoming agent practicing running numbers on different duplexes and investment properties I'm seeing on the market, here to share another report I'm working on for feedback. This was just listed on the market, and boasted a great return. From what I'm seeing, it looks like it would be a great opportunity. I ran this scenario for a "small" investor, with maybe 2-3 properties in their portfolio. No management costs as it would be self managed, and estimated property taxes by the average of the past few years. Went a bit heavy on the annual taxes due to the increase in the area the past few years. But the numbers still seem to look good for an investor in that scenario. Also showing almost a 20% CoC return, which in my research I've found to be a highly ideal number for investors.

Is there something I could improve on with this report or fix? Would this be a good opportunity for someone looking to buy/hold? 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

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Jaycee GreenePro Member
Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 728 votes
1y
Quote from @William Taylor:

Hey there BiggerPockets members, 

I'm an upcoming agent practicing running numbers on different duplexes and investment properties I'm seeing on the market, here to share another report I'm working on for feedback. This was just listed on the market, and boasted a great return. From what I'm seeing, it looks like it would be a great opportunity. I ran this scenario for a "small" investor, with maybe 2-3 properties in their portfolio. No management costs as it would be self managed, and estimated property taxes by the average of the past few years. Went a bit heavy on the annual taxes due to the increase in the area the past few years. But the numbers still seem to look good for an investor in that scenario. Also showing almost a 20% CoC return, which in my research I've found to be a highly ideal number for investors.

Is there something I could improve on with this report or fix? Would this be a good opportunity for someone looking to buy/hold? 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

 Hey @William Taylor! I was going to look over your numbers for you, but can you answer a few questions:

* In what zip code is this property located?

* Is this a single-family property or a duplex?

* How many bedrooms per units?

* What is the sqft of the property?

* Does the property need any rehab? If yes, how much and how long will it take?

[email protected]
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  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 728 votes
    1y
    Quote from @William Taylor:

    Hey there BiggerPockets members, 

    I'm an upcoming agent practicing running numbers on different duplexes and investment properties I'm seeing on the market, here to share another report I'm working on for feedback. This was just listed on the market, and boasted a great return. From what I'm seeing, it looks like it would be a great opportunity. I ran this scenario for a "small" investor, with maybe 2-3 properties in their portfolio. No management costs as it would be self managed, and estimated property taxes by the average of the past few years. Went a bit heavy on the annual taxes due to the increase in the area the past few years. But the numbers still seem to look good for an investor in that scenario. Also showing almost a 20% CoC return, which in my research I've found to be a highly ideal number for investors.

    Is there something I could improve on with this report or fix? Would this be a good opportunity for someone looking to buy/hold? 

    View report

    *This link comes directly from our calculators, based on information input by the member who posted.

     Hey @William Taylor! I was going to look over your numbers for you, but can you answer a few questions:

    * In what zip code is this property located?

    * Is this a single-family property or a duplex?

    * How many bedrooms per units?

    * What is the sqft of the property?

    * Does the property need any rehab? If yes, how much and how long will it take?

    [email protected]
    1Reply
  • William TaylorPro Member
    OP
    Member since 2022 · 15 posts · 2 votes
    1y
    Quote from @Jaycee Greene:
    Quote from @William Taylor:

    Hey there BiggerPockets members, 

    I'm an upcoming agent practicing running numbers on different duplexes and investment properties I'm seeing on the market, here to share another report I'm working on for feedback. This was just listed on the market, and boasted a great return. From what I'm seeing, it looks like it would be a great opportunity. I ran this scenario for a "small" investor, with maybe 2-3 properties in their portfolio. No management costs as it would be self managed, and estimated property taxes by the average of the past few years. Went a bit heavy on the annual taxes due to the increase in the area the past few years. But the numbers still seem to look good for an investor in that scenario. Also showing almost a 20% CoC return, which in my research I've found to be a highly ideal number for investors.

    Is there something I could improve on with this report or fix? Would this be a good opportunity for someone looking to buy/hold? 

    View report

    *This link comes directly from our calculators, based on information input by the member who posted.

     Hey @William Taylor! I was going to look over your numbers for you, but can you answer a few questions:

    * In what zip code is this property located?

    * Is this a single-family property or a duplex?

    * How many bedrooms per units?

    * What is the sqft of the property?

    * Does the property need any rehab? If yes, how much and how long will it take?


     Hey there Jaycee, 

    This property is located in the 48089 zip code. 

    It is a 2 unit duplex. 

    Unit 1 is 2B1B, Unit 2 is 1B1B. 

    Square footage is roughly 1600 sqft.

    Could use minor cosmetic rehab on the outside to make it look pretty, inside is brand new however. 

    Let me know if I can answer more questions.

    0Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 728 votes
    1y

    is this it? If so, do you know the area well?

    [email protected]
    1Reply
  • William TaylorPro Member
    OP
    Member since 2022 · 15 posts · 2 votes
    1y
    Quote from @Jaycee Greene:

    is this it? If so, do you know the area well?


     That's her! I'm actually pretty familiar with this area, I lived in Sterling Heights for about two years. Pretty solid appreciation in that area with an average of 5-7% per year, and it's also close to a lot of industries like the Chrysler plant. Eastpointe has a semi-decent school district, and the area overall is seeing a population growth. I would say maybe Class C if I could label it such. 

    0Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 728 votes
    1y

    Do you mind if I send you DM/Connection request? I ran your numbers in my own deal analyzer that I use for my clients that I want to share with you.

    [email protected]
    0Reply
  • William TaylorPro Member
    OP
    Member since 2022 · 15 posts · 2 votes
    1y
    Quote from @Jaycee Greene:

    Do you mind if I send you DM/Connection request? I ran your numbers in my own deal analyzer that I use for my clients that I want to share with you.


     Not at all, sent a request your way! 

    0Reply
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