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+15868545396
Community Choice Realty
13167 Stoepel Street, Detroit, MI 48238 5100
- $225,000
- 23
- BA
- 2,600
- SqFt
- List Price
- $225,000
- Status
- ACTIVE
- MLS#
- 61026275
- Days on Market
- 44
- Year Built
- 1927
- Bathrooms
- 23
- Acres
- 0.09
- Living Area
- 2,600
- Municipality
- Detroit
- Region
- Detroit
- Township
- Detroit
- Subdivision
- Robert Oakmans Ford Hwy & Glendale
Property Description
Turnkey Triplex for Investors Seeking Cash Flow, Stability & Immediate Income. Perfect for cash investors, new landlords, or buyers looking to house-hack while tenants cover the mortgage. This updated triplex near Detroit's historic Russell Woods/Nardin Park neighborhood would generate $2,930/month in projected gross rent across three spacious units; delivering dependable income with minimal overhead. The property includes a 3-bed/1-bath unit (1,300 sq ft, $1,300/mo) and two 1-bed/1-bath units (700 sq ft at $900/mo, 600 sq ft at $730/mo), each Recent upgrades include new electrical panels, updated plumbing supply and drain lines, new laminate flooring, fresh paint and updated vanities; delivering a clean, low-maintenance product for any investor. Investor highlights: * NOI: $24,373.20 * Cap Rate: 10.83% (at $225,000 purchase price) * Cash Flow (with 20% down): ~$10,748.93/year * Cash-on-Cash Return: 23.89% * Expenses include standard reserves for maintenance, property management, and vacancy.
Additional Information
- Lot Dimensions
- 36 x 108
- Interior Features
- Cable/Internet Avail.
- Heating
- Radiant, Steam
- Basement
- Yes
- Basement Description
- Block, Common
- Appliances
- Gas Water Heater
- Sewer
- Public At Street
- Foundation
- Basement
- Water
- Public, Public Water at Street
- School District
- Detroit City School District
Mortgage Calculator
Listing Courtesy of KW Grosse Pointe, Office Phone: 313-886-7239
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.