🏡 $100k Profit in this Detroit Flip / Rental 🏡
Attention real estate investors: 60k+ Gross Profit on the flip!!! Phenomenal location 5 mins from the city & 15 from the airport. In an up & coming community in the city of Detroit, this investment is a no brainer.
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STARTING PRICE: $85k
ARV: $255k
Perfect For:
🛠️ Fix/Flip:
[Purchase Price] $85k + [Rehab] $70k = [Total Investment] $155k
[ARV] $255k – [Total Investment] $155k = [Gross Profit] $100k
ARV Comps:
-
5918 Stanton St, Detroit, MI 48208 – SOLD $315k (.2 mile)
high end comp
-
6234 Hecla St, Detroit, MI 48208 – SOLD $255k (.5 mile)
regular reno
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6211 Hecla St, Detroit, MI 48208 – SOLD $255k
regular reno
- 6050 16th St, Detroit, MI 48208 – ACTIVE $255k
🏠 Buy and Hold:
[Purchase Price] $98k + [Rental Rehab] $35k = [Rental Investment] $133k
[Current Rent Rate] $1,700/mo
Rental Comps:
-
2680 Nebraska St, Detroit, MI 48208 – FOR RENT $1,600
smaller than subject, very light rehab
Property Details:
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Property Overview:
🚪 (4) Bedrooms
🛁 (1.5) Bathroom
📐 (1,474) sqft of potential
📅 (1860) Built
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Property Details:
🧱 Exterior: (Brick)
🏠 Roof Condition: (Needs new roof)
🔧 Utilities: (needs updating)
💧 Hot Water Heater: (need updates)
❄️ A/C Unit: (needs updates)
🪝 Basement: (Yes, unfinished)
- Additional Insights:
📈 Area Details: (high volume flip area)
⏳ History: (Family owned)
🚧 Attention Required: (regular renovation w/roof)
🛏️ Vacancy: (Vacant upon closing)