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Phone: 8063195383

Email: loaassets@gmail.com

Property id(7292) is Reserved

Property id(7292) is Sold

Email: loaassets@gmail.com

8063195383

184 S Francis, Pontiac, michigan 48342Download Brochure

Short Remarks

2 BED, 1 BATH HOME WITH A DETACHED 2 CAR GARAGE

11% RETURN

REMODELED WITH NEW:

ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES (2-3 YEARS OLD)
FURNACE
HOT WATER HEATER
VINYL WINDOWS AND BLINDS
CARPET THROUGHOUT
INTERIOR TWO-TONE PAINT
EXTERIOR PAINT
ELECTRICAL PANEL AND FIXTURES
VINYL BATHROOM AND KITCHEN FLOORING

UPDATED KITCHEN CABINETS

MAINTENANCE FREE METAL SIDING

FULL BASEMENT

EXCELLENT MANAGEMENT IN PLACE

Full Remarks

*** WE LOVE PONTIAC! The City of Pontiac is a manufacturing hub located just north of Detroit Michigan and is the County Seat of Oakland County.  Along with three major hospitals several large companies have manufacturing facilities in Pontiac including General Motors, AT&T, and HP Enterprise Services.  In 2008 the automobile industry crashed leaving several large commercial districts vacant in Pontiac. In addition, the Governor appointed an Emergency Financial manager to sell off the cities non-producing assets, to privatize almost all departments and to correct the decades of financial miss-management. NOW, the emergency manager has left, local control has been returned to the Mayor and City Council, and Pontiac is on a firm financial setting with a surplus for the 1st time in years.   Home to the new M1 Concourse Pontiac is back on the map.  With the completion of this classic sports car condo/racetrack/complex in the summer of 2016 hundreds of support jobs are being created as space is selling out fast.  Summer of 2017 saw the completion of several major building renovations including a new live performing arts theater, several new restaurants, and loft development projects.  Also announced in the summer of 2017 were the relocation of Williams International to Pontiac and the expansion of United Shore bringing an additonal 750 jobs to Pontiac.  Homes in Pontiac are appreciating at a rapid pace.  In 2008 the average home cost $10,000, in 2017 this average is $59,500.  With employment opportunities small families are flocking to Pontiac.  This influx of working families is causing a shortage of 2 and 3 bedroom homes creating high demand and low turnover for rental units. 

  • Purchase price :

    $64,980
BUY NOW
  • Property Details

  • Bedrooms:

    2
  • Baths:

    1
  • Sq FT:

    680
  • YEAR Built:

    1920
  • TYPE:

    Single Family
  • LOT SIZE:

    4,680
  • Cash Flow analysis

  • MONTHLY RENT PMT :

    $765
  • ANNUAL RENT :

    $9,180
  • Estimated* Hazard Insurance:

    $500
  • Estimated* Property Taxes:

    $614
  • Property Management Exp:

    $918
  • Annual Utilities Exp:

    $0

Estimated* Net Income:

$7,148

* 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
830 Pensacola, Pontiac MI $70,200 8/4/17 Single Family 2 1
627 Westbrook, Pontiac MI $74,500 6/23/17 Single Family 2 1
2068 Kendlewood, Auburn Hills MI $65,000 9/29/17 Single Family 2 1