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$210,000

Under Contract
20232 Braile St, Detroit, MI 48219
3 Beds
2 Baths
2,363 Square Feet
0.15 Acres Lot
Built in 1952
Under Contract
Units n/a
Checked: 14 hours ago
Updated: Jul 16, 2025 at 03:20AM

Investment Summary


Monthly Cash Flow
-$287
Cap Rate
4.5%
Cash-on-Cash Return
-7.1%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.9%

Property Description


0.15 Acres Lot
Built in 1952
Under Contract
Units n/a

Fully renovated and full of charm—welcome to 20232 Braile. This 3-bedroom, 2-bath brick ranch features an open-concept layout with refinished hardwood floors, recessed lighting, and a sleek designer kitchen with quartz countertops and new stainless steel appliances. The spacious walk-through primary suite offers ample closet space and privacy. The main floor bathroom is a showstopper with floor-to-ceiling tile, a freestanding soaking tub, glass-enclosed shower, and a modern bidet toilet. Downstairs, the finished basement includes a large bonus room, second full bath, and additional living space—perfect for entertaining or working from home. Move-in ready with style and space to match! *Home is under surveillance* HWT & Furnace to be installed at closing

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Location


Property Details


Parking

  • Description: Driveway, NoGarage
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Full, Sump Pump

Exterior Features

  • Exterior Walls Materials: Brick

Land Information

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

Lot Information

  • Parcel ID: 22105488.007
  • Lot Size: 6534 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1952

Tax Information

  • Annual Tax: $1,292

Utilities

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

Location

  • County: Wayne

Listing Details


Listed by:
Alaysia Means
eXp Realty, LLC
(888) 501-7085

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25028897
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$287
Cap Rate
4.5%
Cash-on-Cash Return
-7.1%
Debt Coverage Ratio
0.73
Internal Rate of Return (5 years)
-2.9%

Purchase Details

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Purchase price:
$210,000
Amount financed:
-$168,000
Down payment:
$42,000
Closing costs:
$6,300
Rehab costs:
$0
Initial cash invested:
$48,300
Square feet:
2,363
Cost per square foot:
$89
Monthly rent per square foot:
$0.55

Financing Details

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Loan amount:
$168,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,076
Property tax:
$108
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,275

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$108-$1,292
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (33%)
33%-$433-$5,192

Cash Flow


Monthly Yearly
Net operating income:
$789 $9,468
Mortgage payments:
-$1,076 -$12,912
Cash flow:
$287 $3,444