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Prevost ST, Detroit

This document describes a four bedroom house located in Detroit, Michigan that is currently rented for $750 per month. The house has potential for a rent increase as comparable four bedroom homes in the area can rent for up to $1,350 per month under Section 8. The property is in good condition and generates a 9% annual return on investment based on the current rent amount. The local area has undergone revitalization and has some of the best neighborhoods in Detroit.

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Nadia Bretto
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87 views10 pages

Prevost ST, Detroit

This document describes a four bedroom house located in Detroit, Michigan that is currently rented for $750 per month. The house has potential for a rent increase as comparable four bedroom homes in the area can rent for up to $1,350 per month under Section 8. The property is in good condition and generates a 9% annual return on investment based on the current rent amount. The local area has undergone revitalization and has some of the best neighborhoods in Detroit.

Uploaded by

Nadia Bretto
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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TENANTED

POTENTIAL RENT INCREASE

15375 Prevost Street, Detroit, MI 48227 - $69,900


Four bedroom house - $750 rent a month.

Other properties for sale near by

* Net returns quoted and rents are all subject to tenant leases
15375 Prevost Street, Detroit, MI 48227
DESCRIPTION
This great four bedroom colonial house is located on a very well kept street in
Crary-St.Marys on the Westside of Detroit, the house is just 2 miles to Wayne
Community College, one of the best colleges in Detroit, Crary-St.Marys is
surrounded by some of the best neighbourhoods in Detroit.
This property is in a great condition and has four bedrooms, one bathroom, a large
basement and a large rear garden. The property has tenants in place paying $750
per month. Section 8 4 beds homes can reach up to $1,350 in rent each month so
should the tenant leave the rent could be increased.
The house is under management by a local Detroit property management company.

KEY FEATURES
• Four bedrooms.
• One bathroom
• 907 sqft built.
• 7,405 sqft lot.

LOCAL AREA
This propetry is located in Crary-St. Marys, part of the District 1 Community on the
Westside of Detroit, District 1 covers some of the best areas in Detroit including
Brightmoor, Castle Rouge, Old Redford, Riverdale, Berg-Lahser, Grandmont #1,
Grandmont Community, Rosedale Park, North Rosedale Park.

INVESTMENT DETAILS
• $ 9,000 Rent a year.
• $ 900 Management fees.
• $ 1,449 Property taxes.
• $ 600 Insurance.
• 9% Net return.

* Detroit now has more renters than homeowners.


* Detroit is in the top 10 nationwide in construction job growth.
* Detroit has the second highest rent-to-value ratio in the country.
* 3 Fortune 500 companies are based in Detroit.
* Rede ned Downtown with new bars and restaurants, walkways, cinemas.
* New QLine metro rail system connects the city.

* In the last 5 years in Detroit, home values have grown at a faster pace than in any other city in the U.S.
* $1 billion investment in tourist attractions and $650million spent on sports centre and renovating the arena district.
* Home to 4 high-pro le professional sports teams, the Lions, Pistons, Tigers and Red Wings.
* Current housing shortage of tenanted property due to increased demand.
* Fiat Chrysler to invest $1 billion in Metro Detroit Plant.
* $1billion Skyscraper construction is underway in Downtown.
* S&P Case-Shiller Index Con rms Detroit's Real Estate Market is Red-Hot
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