22622 Panama Ave

Warren, MI 48091
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3 bd, 1.5 ba | 920 sqft | Built in 1941

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List Price
$130,000

Initial Investment

$35,425

Purchase Price

$130,000

Down Payment

25%

Rent

$1,320

Total Return

$89,201

Annualized Return

30.7%

Cap Rate

7.8%

Gross Yield

12.2%

Cash Flow

$2,322

Appreciation

9.9%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

10,454

HOA

None

Flood Risk

Not Required

Don't have the desire, time, or money to fix up your new home - well then this is the one you need to check out - because it is in MOVE-IN CONDITION. ALL NEW FLOORING AND PAINT thruout entire home. BRAND NEW KITCHEN (from the floor stubs up) BEAUTIFUL TILED BACK SPLASH, deep stainless steel sink, lots of countertop space, & the stove and frig stay keeping your move in costs low. UPDATED BATHROOM AND 1/2 BATH w/ tiled tub surround, new flooring & new fixtures. CENTRAL AIR CONDITIONING will keep you cool & comfortable in the hot summer, and ceiling fans are there too. ALL NEW FURNACE DUCT WORK ensures clean, dirt-free duct work helping to avoid any respiratory issues. Modern TANKLESS GAS HOT WATER HEATER ensure long hot showers, never running out of hot water. A new sump pump and drainage system in the crawl space will help remove any moisture. And for family meals; your table with fit nicely in the spacious formal dining room with bright lights from the updated chandelier AND recessed lighting. Outside you will find LOTS OF PRIVACY (no rear neighbors & a vacant lot to the north) lovely landscaping, new brick paver front walk & large covered front porch. The backyard is large & is fenced for pets and children, has a relaxing patio for the adult, and the newer built 2 car garage has a NEW GARAGE DOOR OPENER, separate electrical breaker box, & double-wide side entrance doors. The dimensional roof appears to be newer for long-term peace of mind, and vinyl windows & steel entrance doors will help ensure low utility bills. The stackable washer/dryer, window mini-blinds & crown molding all add to this excellent value. Don't delay, this value WILL NOT LAST LONG.

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

Annual Financial Highlights

Expected Rent

$15,048

Expenses

-$3,308

Property Taxes

-$2,350

Loan Payments

-$7,067

Net Cash Flow

$2,322

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:Joseph Surmont
Keller Williams Realty Lakeside
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #58050149938
Last Updated: 07/26/2024 18:07
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