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$885,000

For Sale - Active
1514 Golden Ave, Ann Arbor, MI 48104
Beds n/a
0 Baths
0 Square Feet
0.17 Acres Lot
Built in 1951
For Sale - Active
3 Units
Checked: 7 hours ago
Updated: Jun 05, 2025 at 03:20AM

Investment Summary


Monthly Cash Flow
-$3,195
Cap Rate
1.8%
Cash-on-Cash Return
-18.8%
Debt Coverage Ratio
0.30
Internal Rate of Return (5 years)
-14.2%

Property Description


0.17 Acres Lot
Built in 1951
For Sale - Active
3 Units

Looking for an incredible investment opportunity in one of Ann Arbor's most sought after neighborhoods! This outstanding triplex is, as the street says, Golden with returns for its owner. Great floor plans with spaciousness, finishes, and sunlight make it easy to rent, and easy to maintain. First floor 2 bedroom has it's own lovely sitting porch, Second floor 2 bedroom has its own screen porch, and the lower 1 bedroom Garden unit is filled with light and charm. Current owners have seen year over year returns, and all units are receiving strong market rent rates! Whether seasoned or just starting, this income property is a resounding YES. Hurry and set up your visit now!

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Location


Property Details


Parking

  • Details: Concrete, Driveway
  • Garage Spaces: 0
  • Spaces Total: 6

Bathroom Information

  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 0
  • Basement: Yes
  • Basement Description: Daylight, Full, Walk-Out Access
  • Fireplace: Yes

Exterior Features

  • Roof Material: Composition

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 090933322003
  • Lot Size: 7405 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1951

Tax Information

  • Annual Tax: $17,067

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air

Location

  • County: Washtenaw

Listing Details


Listed by:
Jeffrey Post
@properties Christie's Int'lAA
(734) 476-8326

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25019387
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$3,195
Cap Rate
1.8%
Cash-on-Cash Return
-18.8%
Debt Coverage Ratio
0.30
Internal Rate of Return (5 years)
-14.2%

Purchase Details

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Purchase price:
$885,000
Amount financed:
-$708,000
Down payment:
$177,000
Closing costs:
$26,550
Rehab costs:
$0
Initial cash invested:
$203,550
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$708,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,533
Property tax:
$1,422
Insurance:
$280
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,235

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,000 $48,000
Vacancy loss: (6%)
6% -$240 -$2,880
Operating income:
$3,760 $45,120

Operating Expenses


% Rent Monthly Yearly
Property taxes: (36%)
36%-$1,422-$17,068
Insurance: (7%)
7%-$280-$3,360
Property management: (8%)
8%-$320-$3,840
Repairs & maintenance: (5%)
5%-$200-$2,400
Capital expenditures: (5%)
5%-$200-$2,400
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (61%)
61%-$2,422-$29,068

Cash Flow


Monthly Yearly
Net operating income:
$1,338 $16,056
Mortgage payments:
-$4,533 -$54,396
Cash flow:
$3,195 $38,340