Dodge Ave
Warren, MI 48089

935 sq. ft., 3 bedroom / 1 bathroom

Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089
Dodge Ave</br> Warren, MI 48089

Property Information

Current Status Occupied
Lease Start Date 05/08/2024
Lease End Date 05/07/2025
Utilities Paid by Tenant
Initial Investment* $30,216

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

Purchase Price $126,000

Current Rent $1,475
Cap Rate 10%
Cash on Cash Return* 40%
Net Cash Flow Per Month* $404

*Assuming 20% down with a loan at 2PTS + 7% interest for 30 years. Including equity build up and 3% appreciation per year.

About This Property

Completely updated and centrally located turnkey property features a spacious fenced in yard! Located near schools, shopping, restaurants, community centers and main interstates

* Renovated kitchen with all appliances, including: stove, refrigerator and microwave
* Fresh interior paint throughout the entire house, trim and caulking included
* Brand new blinds, outlets, light switches and light fixtures throughout the entire house
* New smoke detectors and CO detectors installed in each room
* Repaired all doors and replaced with new hardware, cabinets, windows

* Freshly painted exterior
* New mailbox with post
* Large garage with brand new door
* Front porch updates include: scraping and paint ing and repaired front porch railings

Other repairs include:
* Siding, crawl space covering, storm door closer
* Fence repaired
* Furnace and hot water tank to code
* Repaired plumbing in crawl space, access panel for water meter

Maximizing rental income at $1475/month, excellent cash flow and cash on cash return.

100% of rents are paid by Section 8!

This property 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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