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Phone: 3035209143

Email: info@ukholdingsglobal.com

Property id(7295) is Reserved

Property id(7295) is Sold

Email: info@ukholdingsglobal.com

3035209143

20162 Mitchell St, Detroit, michigan 48234Download Brochure

Short Remarks

BRICK 3 BEDROOM, 1 BATH HOUSE

NEW SECTION 8 TENANT

COMPLETELY REMODELED WITH NEW:

FURNACE
WATER HEATER
VINYL WINDOWS AND BLINDS
KITCHEN CABINETS, COUNTER TOP, AND BACKSPLASH
VINYL KITCHEN FLOORING
BATHROOM VANITY, MIRROR, TOILET AND SURROUND
VINYL BATHROOM FLOORING
CARPET THROUGHOUT
LIGHTING THROUGHOUT
PLUMBING AND PLUMBING FIXTURES
ELECTRICAL PANEL AND FIXTURES

FULL BASEMENT WITH GLASS BLOCK WINDOWS INSTALLED

NEWER ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES (2-3 YEARS OLD)

EXCELLENT MANAGEMENT IN PLACE

Full Remarks

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 :

    $68,600
BUY NOW
  • Property Details

  • Bedrooms:

    3
  • Baths:

    1
  • Sq FT:

    1,400
  • YEAR Built:

    1943
  • TYPE:

    Single Family
  • LOT SIZE:

    4,578
  • Cash Flow analysis

  • MONTHLY RENT PMT :

    $800
  • ANNUAL RENT :

    $9,600
  • Estimated* Hazard Insurance:

    $500
  • Estimated* Property Taxes:

    $1,280
  • Property Management Exp:

    $960
  • Annual Utilities Exp:

    $0

Estimated* Net Income:

$6,860

* 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
19450 Norwood, Detroit MI $80,000 10/27/17 Single Family 3 1
3619 Michael, Warren MI $75,500 10/31/17 Single Family 3 1
21409 Doepfer, Warren MI $65,000 10/2/17 Single Family 3 1