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$235,000

For Sale - Active
18106 Roselawn St, Detroit, MI 48221
5 Beds
3 Baths
2,550 Square Feet
0.12 Acres Lot
Built in 1930
For Sale - Active
Units n/a
Checked: 12 hours ago
Updated: Jun 21, 2025 at 02:25AM

Investment Summary


Monthly Cash Flow
-$195
Cap Rate
5.2%
Cash-on-Cash Return
-4.3%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
-0.2%

Property Description


0.12 Acres Lot
Built in 1930
For Sale - Active
Units n/a

Beautifully updated 1930s brick home located in the Bagley neighborhood of Detroit. Just steps from The University District, Detroit Golf Club, shops, and restaurants, this spacious home features hardwood floors throughout (including the 2nd floor), an updated kitchen and baths, refinished original hardwoods, original plaster moldings, two working fireplaces, and tons of historic charm and character. Other interior updates include new HVAC, furnace, and AC (2018), new electrical (2018), new plumbing (2018), new paint (2019), and a new roof (2021). The lower level could be finished for even more square footage! The exterior of this home features a 2-car garage, new siding, patio, and is fully fenced.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Detached, Concrete
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full
  • Fireplace: Yes

Exterior Features

  • Roof Material: Asphalt

Land Information

  • Land Use: Residential
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 16030414.
  • Lot Size: 5227 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Colonial
  • Year Built: 1930

Tax Information

  • Annual Tax: $2,796

Utilities

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

Location

  • County: Wayne

Listing Details


Listed by:
Darin DeWeese
The Agency Hall & Hunter
(248) 330-7645

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25029806
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$195
Cap Rate
5.2%
Cash-on-Cash Return
-4.3%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
-0.2%

Purchase Details

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Purchase price:
$235,000
Amount financed:
-$188,000
Down payment:
$47,000
Closing costs:
$7,050
Rehab costs:
$0
Initial cash invested:
$54,050
Square feet:
2,550
Cost per square foot:
$92
Monthly rent per square foot:
$0.71

Financing Details

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Loan amount:
$188,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,204
Property tax:
$233
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,563

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$233-$2,796
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (38%)
38%-$683-$8,196

Cash Flow


Monthly Yearly
Net operating income:
$1,009 $12,108
Mortgage payments:
-$1,204 -$14,448
Cash flow:
$195 $2,340