Vaughan St
Detroit, MI 48219

995 sq. ft., 3 bedroom / 1 bathroom

Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219
Vaughan St</br> Detroit, MI 48219

Property Information

Current Status Occupied
Lease Start Date 04/01/2024
Lease End Date 03/31/2025
Utilities Paid by Tenant
Initial Investment* $31,080

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

Purchase Price $130,000

Current Rent $1,500
Cap Rate 11%
Cash on Cash Return* 41%
Net Cash Flow Per Month* $449

*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

Discover the potential of this cozy 3-bedroom, 1-bath home, boasting an efficient 995 square feet of living space, perfect for those looking to invest in a profitable rental property. Currently generating a cash flow of almost $450 per month, this property is a smart buy for the savvy investor.

Freshly renovated, the interior features new luxury vinyl plank flooring in all common areas and new carpet in the bedrooms and stairs.

Newly painted walls and new blinds throughout the home, offer a welcoming atmosphere.

The kitchen has been upgraded with a new fridge and stove.

New electrical outlets, faceplates, and doorknobs throughout the home, along with new doors.

The bathroom has been updated with a reglazed tub and tile, a new toilet, vanity, and fixtures, ensuring a more modern feel.

Safety and accessibility are prioritized with the addition of new, stabilized steps leading into the home.

The basement has been transformed with new epoxy floors and walls, creating a clean and modern space.

This property is not just a home; it’s a turnkey investment ready to continue generating income from day one. Don’t miss out on this opportunity to own a beautifully renovated home that is as profitable as it is charming!

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