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Rental at 12.8% CAP!



$29,900

FOR SALE

3297 Glynn Ct

Detroit, MI

  • Property has updated electrical and water lines all throughout. Only $29 a Sqft!
  • Very low property taxes! Property is currently rented for $650 a month. Leased from Nov 2017- Nov 2018.
  • THIS MAKES SENSE! Purchase at $40k You're in it for $41.5K with closing cost. RENTED at $ 650 with $492 in taxes/y. 10% in maintenance fee $780 and $1200 on insurance. That's $5,328 a year! (12.8% ROI). In 8 years your tenant will have your property paid off while properties appreciate on a yearly basis.
  • Minutes to Motown Museum and Ford field! Check this article on how Detroit is changing and rebuilding! https://www.nytimes.com/interactive/2018/04/30/us/detroit-come-back-budget.html
  • Property has a huge basement that can be used as an extra room!

Documents

 
No Documents for this Property


  • Sale Comps $60K - $65K
  • Rental Comps $650 - $700
  • Property Type Residential
  • Location Detroit, MI
  • Size 1400 sq. ft.
  • Bedrooms 3
  • Bathrooms 1
  • TAV 29.6K
  • Annual Taxes $492
  • Year Built 1923

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