462 Algonquin St
Detroit, MI 48215
List Price
$72,500
Initial Investment
$19,756Purchase Price
$72,500
Down Payment
25%
Rent
$1,050
Total Return
$47,712
Annualized Return
32.3%
Cap Rate
10.1%
Gross Yield
17.4%
Cash Flow
$2,655
Appreciation
8.0%
Reset to DefaultEdit Assumptions
Features
Occupancy
Unspecified
Lease Start
-
Lease End
-
Lot Size
3,485
HOA
None
Flood Risk
Not Required
Nestled in Detroit's Jefferson Chalmers neighborhood, this Craftsman-style home offers more than just a residence—it's a lifestyle opportunity. Situated near the Detroit River, marinas, and parks, it provides outdoor recreation and a sense of community. The 3-bedroom, 1-bathroom layout boasts classic charm, complemented by a spacious deck for outdoor gatherings. Beyond its appealing features, this property is a great value, priced at under 100k. With Belle Isle and downtown Detroit just a short ride away, residents enjoy the best of both worlds: tranquil riverside living and urban convenience. Whether you're seeking a serene retreat or an investment in one of Detroit's hottest neighborhoods, this home promises both comfort and potential. SOLD AS-IS. APPLIANCES EXCLUDED
See more in Analysis
Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852
Annual Financial Highlights
Expected Rent
$11,970Expenses
-$3,373Property Taxes
-$2,000Loan Payments
-$3,941Net Cash Flow
$2,655See 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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SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #20240054387
Last Updated: 07/26/2024 14:07
MLS #20240054387
Last Updated: 07/26/2024 14:07