A Great Investment Opportunity in Detroit, MI
Property Details
A classic single-family house featuring 3 bedrooms, 1 bathroom, and 1,410 sqft of living space on a 4,356 sqft lot with a 3-car driveway.
• Roof: Old
• Furnace: Good
• AC: Good
• Plumbing: Old
• Electrical Panel: Old
• Water Heater: Good
The property will be delivered vacant at closing.
Investment Highlights
• Priced significantly below market – bottom of the market entry with as-is comparables selling for $45,500
• Solid 1924 brick and frame construction with no structural or foundation issues
• Brand new furnace, central AC, and water heater already in place
• Larger than all comparable properties in the area at 1,410 sqft above grade
• 1,010 sqft unfinished full basement providing additional value-add potential
• Original hardwood floors throughout ready for refinishing
• Strong rental potential at $1,250/month once renovated – ideal for cash flow investors
• Recent sold comps range between $78k-$80k, with properties smaller than this one
• Market showing positive appreciation of +11.8% over the past year
• Clear scope of work defined at $46,725 for full renovation
• Located in established Detroit residential neighborhood with consistent rental demand
• Active listings in the area priced at $73k and $99k demonstrate upside potential
Financial Summary
• ARV (After Repair Value): $75,000 - $85,000
A Wonderful Wholesale Opportunity!