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$200,000

Sale Pending
3062 Roundtree Blvd, Ypsilanti, MI 48197
2 Beds
1 Bath
1,382 Square Feet
0.00 Acres Lot
Built in 1974
Sale Pending
Units n/a
Checked: 18 hours ago
Updated: Jun 10, 2025 at 03:16AM

Investment Summary


Monthly Cash Flow
-$626
Cap Rate
2.4%
Cash-on-Cash Return
-16.3%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-11.8%

Property Description


0.00 Acres Lot
Built in 1974
Sale Pending
Units n/a

Location, location, location! Ann Arbor Living with Ypsilanti Pricing. This rare ranch style condo has 2 bedrooms and 1 bath. Features an open concept floor plan, updated kitchen with granite counter tops and stainless steal appliances. Private outdoor patio provides gardening and entertaining area. Partially finished basement with family room, laundry room, space for an office and plumbed for a 2nd bath. Unit includes 1 covered parking spot. HOA includes gas, water, trash removal, lawncare, and snow removal. Community pool, tennis courts, fitness center and clubhouse included. Conveniently located near shopping and dining with easy access to Ann Arbor and major highways. Don't miss this opportunity to own a fantastic home at an affordable price. Schedule a showing today

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Location


Property Details


Parking

  • Details: Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 3
  • Basement: Yes
  • Basement Description: Full, Partially Finished

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Roof Material: Asphalt

HOA

  • Has HOA: Yes
  • HOA Fee: $382/monthly
  • Additional HOA Fee: $382

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: K1118220027
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Ranch
  • Year Built: 1974

Tax Information

  • Annual Tax: $2,229

Utilities

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

Location

  • County: Washtenaw

Listing Details


Listed by:
Sheryl Aldridge
KW Professionals
(734) 972-4964

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25025422
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$626
Cap Rate
2.4%
Cash-on-Cash Return
-16.3%
Debt Coverage Ratio
0.39
Internal Rate of Return (5 years)
-11.8%

Purchase Details

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Purchase price:
$200,000
Amount financed:
-$160,000
Down payment:
$40,000
Closing costs:
$6,000
Rehab costs:
$0
Initial cash invested:
$46,000
Square feet:
1,382
Cost per square foot:
$145
Monthly rent per square foot:
$1.01

Financing Details

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Loan amount:
$160,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,024
Property tax:
$186
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,308

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$186-$2,229
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (27%)
27%-$382-$4,584
Total operating expenses: (66%)
66%-$918-$11,013

Cash Flow


Monthly Yearly
Net operating income:
$398 $4,776
Mortgage payments:
-$1,024 -$12,288
Cash flow:
$626 $7,512