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+15868545396
Community Choice Realty
20201 Grandville Avenue, Detroit, MI 48219 1411
- $175,000
- 3
- BD
- 1
- BA
- 1,010
- SqFt
- List Price
- $175,000
- Status
- ACTIVE
- MLS#
- 60998270
- Days on Market
- 128
- Style
- Ranch
- Year Built
- 1953
- Price Change
- ▲ $20,000 1785890788
- Bedrooms
- 3
- Bathrooms
- 1
- Acres
- 0.14
- Living Area
- 1,010
- Municipality
- Detroit
- Region
- Detroit
- Township
- Detroit
- Subdivision
- Evergreen Gardens Sub (Plats)
Property Description
Currently rented at $2,700/month through May 2027, this strong cash-flow property offers investors immediate income, lease stability, and a rare monthly rent figure at this price point. The property produces $32,400/year in gross scheduled rental income, creating an attractive 18.5% gross rent-to-price return and a strong 1.54% monthly rent-to-price ratio before expenses. For DSCR buyers, the rent roll is especially compelling as the current rental income provides strong debt-service coverage potential. Final DSCR will depend on interest rate, taxes, insurance, and lender guidelines, but the income profile is exactly what cash-flow investors look for. The existing lease through May 2027 gives the next owner a clear runway of income without needing to immediately place a tenant, market the property, or absorb vacancy risk. That lease stability is a major advantage for buy-and-hold investors who want predictable performance from day one. This is the type of asset that checks the right boxes: strong monthly rent, tenant already in place, attractive gross return, DSCR-friendly income, and a lease term that supports long-term planning. Whether you are expanding your portfolio or looking for a high-income rental with immediate performance, this property deserves a serious look. Please do not disturb the tenant. Showings to be arranged through the proper channels.
Additional Information
- Lot Dimensions
- 46.00 x 135.00
- Interior Features
- DSL Available
- Heating
- Natural Gas, Forced Air
- Basement
- Yes
- Basement Description
- Unfinished
- Appliances
- Dishwasher, Dryer, Range/Oven, Refrigerator, Washer, Gas Water Heater
- Foundation
- Basement
- Water
- Public
- School District
- Detroit City School District
Mortgage Calculator
Listing Courtesy of Keller Williams First, Office Phone: 810-515-1503
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.Copyright 2014 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
Provided through IDX via MiRealSource, as the "Source MLS", courtesy of the Originating MLS shown on the property listing, as the Originating MLS. The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2014 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.