1795 Byron Ave

Madison Heights, MI 48071
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3 bd, 2 ba | 1,073 sqft | Built in 1958

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List Price
$250,000

Initial Investment

$68,125

Purchase Price

$250,000

Down Payment

25%

Rent

$2,450

Total Return

$137,847

Annualized Return

26.6%

Cap Rate

7.5%

Gross Yield

11.8%

Cash Flow

$4,096

Appreciation

8.0%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

5,401

HOA

None

Flood Risk

Not Required

Adorable 3 bedroom, 1 full and 2 half bath, brick and vinyl ranch with tremendous decorative potential is available in the highly desirable north western section of Madison Heights. Located moments away from major expressways, restaurants, entertainment and award winning Lamphere Schools, yet nestled in a quiet neighborhood, this home has so many expensive extras already in place, for buyer's peace of mind. Newer vinyl windows, newer roof, updated furnace, central air and electrical service, fully fenced backyard with utility shed on concrete slab, huge finished basement with half bath and large covered patio in the backyard are just some of the outstanding features of this home. The open concept dining/living room is perfect for relaxing or entertaining. The huge picture window in the front of the house allows plenty of natural light in the living space. The well designed kitchen has ample cupboard and counter space and the half bath located at the top of the basement stairs leading to the backyard allows ease of entertainment both indoor and outdoor. The price reflects the condition, and a little work will add tremendous value to this charming home.

See more in Analysis
Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852

Annual Financial Highlights

Expected Rent

$27,930

Expenses

-$5,742

Property Taxes

-$4,500

Loan Payments

-$13,591

Net Cash Flow

$4,096

See 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:Erik Jurvis
DOBI Real Estate
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #20240087589
Last Updated: 11/22/2024 05:11
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