Southfield Fwy
Detroit, MI 48235

917 sq. ft., 3 bedroom / 1 bathroom

Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235
Southfield Fwy</br> Detroit, MI 48235

Property Information

Current Status Occupied
Lease Start Date 05/09/2024
Lease End Date 05/08/2025
Utilities Paid by Tenant
Initial Investment* $26,760

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

Purchase Price $110,000

Current Rent $1,200
Cap Rate 10%
Cash on Cash Return* 38%
Net Cash Flow Per Month* $324

*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

This turnkey home is nestled in a neighborhood that offers a perfect blend of residential charm and convenient urban living.

At just a stone’s throw away, you have major connecting roads, quality schools, and one of the leading business centers of Michigan. Don’t miss this one!

Fully Renovated Turnkey Rental Investment including:

* Brand new roof
* Complete kitchen renovation, including: All new cabinetry, faucet, sink, countertops and plumbing
* Complete bathroom renovation, including: New vanity, shower, toilet, sink, faucet, mirror, hardware and plumbing
* Brand new hot water tank
* New furnace
* A flooring upgrade throughout the home: New LVP flooring in bathroom, refinished hardwood, new carpet upstairs
* Freshly painted throughout the home
* Installed new lighting, fixtures, and blinds throughout the home
* Replaced with new doors sets, switches, outlets, vent covers, smoke and CO detectors throughout the home
* Renovated the basement, including: LVP on steps, freshly painted and new floors, railings and sewer trap

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

Click here to learn more about the property management in our markets. If you have any further questions please schedule a call with an advisor

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