Heyden St
Detroit, MI 48223

Property Information

Current Status Occupied
Lease Start Date 05/13/2022
Lease End Date 05/12/2024
Utilities Paid by Tenant
Initial Investment* $30,216

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

Purchase Price $126,000

Current Rent $1,250
Cap Rate 8%
Cash on Cash Return* 32%
Net Cash Flow Per Month* $201

*Assuming 20% down with a loan at 2PTS + 7.25% interest for 30 years. Including equity build up and 3% appreciation per year.

About This Property

Welcome to Heyden, a property with good value and potential.

Price recently reduced!
Rents recently increased!! Happy tenant renewed lease.

B/C+ neighborhood in Detroit. This is on a really nice street just outside of Rosedale Park. The surrounding area is ripe for growth. Lots of equity in this one.

Renovations include: New kitchen, new bathroom, newer furnace, newer hot water tank, refinished hardwood floors, new luxury vinyl plank flooring at landing & steps, new door knobs & closet pulls, new large front window, 7 new window screens, new window blinds, new light fixtures, new electrical outlets & switches, new smoke & CO detectors, new downspouts, repaired siding & fascia, tuck pointed railings & steps on front porch, repaired chain link fence, repaired posts in front of garage, interior & exterior paint.

Marketing this property for Trinity Properties.

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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