Oaklane St
Warren, MI 48089

1250 sq. ft., 4 bedroom / 1 bathroom

Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089
Oaklane St</br>Warren, MI 48089

Property Information

Current Status Occupied
Lease Start Date 03/30/2024
Lease End Date 03/31/2025
Utilities Paid by Tenant
Initial Investment* $33,240

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

Purchase Price $140,000

Current Rent $1,350
Cap Rate 9%
Cash on Cash Return* 32%
Net Cash Flow Per Month* $227

*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

Complete turnkey home ready to cashflow!

Nearby schools, shopping, restaurants and close to main roadways.

So many updates!
Kitchen:
* New cabinets and pulls for handles
* New blinds
* New sink and faucet
* New pvc and water lines and
* New LVP flooring in kitchen

Bathroom:
* Reglazed tub and caulk surround, new tub fixtures
* New vanity, mirror, toilet, new faucet pvc and water lines
* New wall tile
* New door handles and hinges, towel bars, toilet and paper holder
* New closet door in bathroom
* New luxury LVP flooring

Updates in other areas of the home include:
* Freshly painted and drywall repair throughout home
* New carpet or LVP flooring
* New light fixtures
* New ceiling fan and flush mount lighting entry way
* New blinds and new vent registers in living areas * New door handles/hinges in all rooms
* New blinds throughout the entire house
* New closet doors in all bedrooms
* New handle and deadbolt for front and side doors
* New smoke, CO detectors and GCFI’s throughout
* New paint on floors, walls and ceiling in basement
* New furnace in basement
* New structural posts

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

Click here to learn more about buying rental properties from MartelTurnkey. If you have any further questions, schedule a call with an advisor