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$169,900

For Sale - Active
3028 Hurlbut St, Detroit, MI 48214
Beds n/a
0 Baths
0 Square Feet
0.08 Acres Lot
Built in 1913
For Sale - Active
Units n/a
Checked: 7 hours ago
Updated: Jun 06, 2025 at 03:13AM

Investment Summary


Monthly Cash Flow
-$205
Cap Rate
4.8%
Cash-on-Cash Return
-6.3%
Debt Coverage Ratio
0.77
Internal Rate of Return (5 years)
-2.1%

Property Description


0.08 Acres Lot
Built in 1913
For Sale - Active
Units n/a

Completely renovated 2 family home with Certificate of Compliance. New Furnaces and Tanks. Both top and bottom are 2 Bed, 1 Bath two-family flat. Both units recently vacant. Will post updated photos once we are done with painting and doing the floors. Agent has ownership interest.

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Location


Property Details


Parking

  • Description: Detached Garage
  • Garage Spaces: 0
  • Spaces Total: 2

Bathroom Information

  • # of Baths (Total): 0.0

Interior Features

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

Exterior Features

  • Exterior Walls Materials: Wood Siding

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 19004338.
  • Lot Size: 3485 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1913

Tax Information

  • Annual Tax: $889

Utilities

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

Location

  • County: Wayne

Listing Details


Listed by:
Darrel Bartkowiak
DPI Property Holding LLC
(734) 444-4532

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25010450
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$205
Cap Rate
4.8%
Cash-on-Cash Return
-6.3%
Debt Coverage Ratio
0.77
Internal Rate of Return (5 years)
-2.1%

Purchase Details

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Purchase price:
$169,900
Amount financed:
-$135,920
Down payment:
$33,980
Closing costs:
$5,097
Rehab costs:
$0
Initial cash invested:
$39,077
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$135,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$890
Property tax:
$74
Insurance:
$77
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,041

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,100 $13,200
Vacancy loss: (6%)
6% -$66 -$792
Operating income:
$1,034 $12,408

Operating Expenses


% Rent Monthly Yearly
Property taxes: (7%)
7%-$74-$889
Insurance: (7%)
7%-$77-$924
Property management: (8%)
8%-$88-$1,056
Repairs & maintenance: (5%)
5%-$55-$660
Capital expenditures: (5%)
5%-$55-$660
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (32%)
32%-$349-$4,189

Cash Flow


Monthly Yearly
Net operating income:
$685 $8,220
Mortgage payments:
-$890 -$10,680
Cash flow:
$205 $2,460