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Phone: 8063195383

Email: loaassets@gmail.com

Property id(7267) is Reserved

Property id(7267) is Sold

Email: loaassets@gmail.com

8063195383

8588 Appoline St, Detroit, michigan 48228Download Brochure

Short Remarks

BRICK 3 BED, 1.5 BATH HOME IN DETROIT

HUGE 11% Return!

SECTION 8 TENANT

NEWER ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES (3-5 YEARS OLD)

NEWER HOT WATER HEATER (3-5 YEARS OLD)

VINYL WINDOWS

HARDWOOD FLOORING THROUGHOUT

TILE KITCHEN FLOORING

TILE BATHROOM FLOORING AND SHOWER SURROUND

TWO-TONE INTERIOR PAINT

UPDATED KITCHEN CABINETS AND COUNTER TOP

UPDATED ELECTRICAL SERVICE PANEL

FULL BASEMENT WITH GLASS BLOCK WINDOWS INSTALLED

GREAT MANAGEMENT IN PLACE

Full Remarks

METRO DETROIT HIGHLIGHTS

What’s happening in Metro Detroit has been described as “a boom coming to Detroit unlike anything that's been seen since the 1920s”

There’s simply too much going on in Metro Detroit to list, so here’s a few recent articles and highlights:

*Announced July ,2018 -- Chemical Bank moving HQ to Detroit = 500 New High Paying Jobs And build a 20 story building downtown. https://www.detroitnews.com/story/news/local/detroit-city/2018/07/25/chemical-bank-locate-detroit-becomes-primary-banking-partner/830326002/

*Ford Motor Company has spent an estimated $750 Million dollars buying up land in Corktown, Detroit (historic downtown area)

  • 5,000 jobs will be brought to a new Corktown campus that will include the Michigan Central Depot, the recently retrofitted Factory Building and the book repository building next to the train station. The workforce will concentrate on mobility, autonomy and electrification.

https://www.detroitnews.com/story/opinion/editorials/2018/06/17/ford-corktown-downtown-detroit-construction-boom/705978002/

*Michigan Avenue – (the main vein in Detroit) is going to be turned into a “Smart Corridor” where they will test self-driving cars, electric transportation, etc….

*Detroit has the 2nd highest rent-to-value ratio in the country at just over 8.5%.

*Little Ceasers Arena is completed which houses the Detroit Red Wings, this is a big catalyst to the re-development of the 50 block downtown area.

*Major budget increase for education in Detroit https://www.detroitnews.com/story/opinion/editorials/2018/02/07/budget-targets-right-priorities/110209624/

* Gilbert’s Rock Ventures wants to use the unfinished jail site in Greektown for a $1 billion mixed-use development anchored by an Major League Soccer stadium and high-rise buildings. That development could have more than a $2.4 billion economic impact.

https://www.detroitnews.com/story/news/local/wayne-county/2017/10/05/wayne-county-jail-deal-gilbert-soccer-stadium/106320100/

*Not to mention the New Bridge “Gordie Howe International Trade Crossing” this bridge will connect Canada to Detroit creating 10,000 new construction jobs.

*In the Arena District all of Detroit’s professional sports teams are within walking distance of each other, which is a huge draw to the area.

*Big 3 Auto Industry’s corporate headquarters are located in Detroit alongside 9 other Fortune 500 companies. Detroit truly is the “comeback city” and this helps support all of the surrounding suburb cities.

  • Purchase price :

    $76,300
BUY NOW
  • Property Details

  • Bedrooms:

    3
  • Baths:

    1.5
  • Sq FT:

    1,862
  • YEAR Built:

    1945
  • TYPE:

    Single Family
  • LOT SIZE:

    7,405
  • Cash Flow analysis

  • MONTHLY RENT PMT :

    $1,000
  • ANNUAL RENT :

    $12,000
  • Estimated* Hazard Insurance:

    $500
  • Estimated* Property Taxes:

    $1,906
  • Property Management Exp:

    $1,200
  • Annual Utilities Exp:

    $0

Estimated* Net Income:

$8,394

* These estimates are based on current information and projections and are not a guarantee of future income. All investments have risk. Additional or increased expenses and vacancies could effect your actual realized return on your real estate investment property.

Comps

Property Address Purchase Price Date Sold Type of Deal # of Beds # of Baths
15221 Tireman, Dearborn MI $80,000 5/24/17 Single Family 4 2
6538 Ternes, Dearborn MI $87,500 3/14/17 Single Family 3 1
3444 Oakman, Detroit MI $85,000 1/26/17 Single Family 3 1