17201 Northlawn St
Detroit, MI 48221
List Price
$120,000
Initial Investment
$32,700Purchase Price
$120,000
Down Payment
25%
Rent
$2,140
Total Return
$111,219
Annualized Return
42.4%
Cap Rate
12.3%
Gross Yield
21.4%
Cash Flow
$7,008
Appreciation
10.2%
Reset to DefaultEdit Assumptions
Features
Occupancy
Unspecified
Lease Start
-
Lease End
-
Lot Size
0
HOA
None
Flood Risk
Not Required
New Fix and Flip opportunity in the Bagley neighborhood of Detroit. With many improvements already started, this property needs a new owner to complete the vision. Including the 2 adjacent side lots, this property bears tons of potential. Originally a duplex with 2 beds and 1 bath on both levels, this home is currently equipped with 2 beds and 2 baths on the first level and a clean slate on the second level with over 2,300 total sqft. The home is approximately half way completed with improvements including newer roof, new furnace and hot water tanks for both levels, some updated plumbing and electrical, new kitchen and more. Just off of I-96 with easy access to the highway. Conveniently located, this home is walkable to the University of Detroit Mercy, Marygrove, Detroit Pizza Bar, Lou's Deli, the Ella Fitzgerald Park and more.
See more in Analysis
Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852
Annual Financial Highlights
Expected Rent
$24,396Expenses
-$7,514Property Taxes
-$3,350Loan Payments
-$6,524Net Cash Flow
$7,008See more in Financials
Property Characteristics
Buyer's Agent
An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
- You can contact your Agent with questions even before making an offer.
- A professional home inspection will be conducted prior to closing. This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor. As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.
Property Management
Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.
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Listing Courtesy of:Daniel Ericksen
O'Connor Realty Detroit, LLC
O'Connor Realty Detroit, LLC
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #20240089501
Last Updated: 12/02/2024 16:12
MLS #20240089501
Last Updated: 12/02/2024 16:12