Asbury Park
Detroit, MI 48235

1692 sq. ft., 3 bedroom / 1.0 bathroom

Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235
Asbury Park</br> Detroit, MI 48235

Property Information

Current Status Occupied
Lease Start Date 07/01/2025
Lease End Date 06/30/2026
Utilities Paid by Tenant
Initial Investment* $32,355

*Includes down payment plus $3,000 of closing costs

Purchase Price $114,000

Current Rent $1,130
Cap Rate 8%
Cash on Cash Return* 28%
Net Cash Flow Per Month* $236

*Assuming 25% down with a loan at 1PTS + 7% interest for 30 years. Including equity build up and 3% appreciation per year.

About This Property

Presenting a fantastic investment opportunity in the Greenfield area: a charming 3-bedroom, 1-bath bungalow situated on a desirable corner lot. This property has been thoughtfully updated and occupied, making it an ideal addition to your portfolio.

Property Highlights:
Bright and Airy: Abundant natural light enhances the home’s welcoming ambiance.
Modern Updates: Features a newly renovated kitchen with a formal dining room, new luxury vinyl plank (LVP) flooring throughout, and a new bathroom with a ceramic tile tub surround.
Fresh and Comfortable: Recently painted with new blinds and upstairs carpeting in the spacious bedroom.
Prime Location:Conveniently located near shopping, schools, places of worship, grocery stores, pharmacies, restaurants, and major freeways.Close proximity to Northland Tower, Ascension Providence Hospital Southfield, and situated just south of 8 Mile and east of Southfield.
This home offers great potential for rental income or resale in a sought-after area.
***100% Covered by section 8.

Renovations include:
– New Furnace
– New Water Heater
– New LVP Flooring throughout
– New Kitchen
– New Bathroom
– Roof 0-5 years Front

~This is being marketed for a FlipSystem client.

Financing Options

MartelTurnkey has partnered with some of the top lenders that provide a wide range of financial solutions to meet your Rental investing needs. Talk to an Advisor to learn more or visit our partner to get pre-approved.

Property Management Company

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Investment Terms

Purchase and Sale Agreement (PSA): A PSA will be delivered electronically once an agreement has been made and must be executed by Buyer within 24 hours of receipt.
Earnest Money Deposit (EMD) of $1,000 must be wired to the Title Company within 3 days of PSA signing.
Appraisal Contingency is available for financed properties, and will be waived automatically if the property appraises for the sale price. If it does not appraise for the sale price, then the Buyer and Seller will have the opportunity to come to terms or the Buyer can cancel the contract.
Closing Date: The Closing Date will occur within 15 days of PSA execution for cash transactions and 45 days of PSA execution for financing unless otherwise agreed by Buyer and Seller.
Lease Agreement: The current lease agreement will be provided to Buyer at Closing.
Closing Costs: Closing costs shall be paid based on local custom, and will include discounts negotiated by Martel TurnKey to lower transaction costs for Buyers and Sellers. Actual closing costs will be outlined on the final settlement statement.

Buying Process

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