Property Description:
** Assignment of Contract **
2 Beds/1.5 Bath/Brick/Ranch/Unfinished Basement
Year built: 1962
Heating: Forced Air, Natural Gas
Lot: 4,356 sqft
Asking price: $55,000 (Assignment of Contract) or Best Offer
ARV: $110,000
Occupancy: Currently tenant occupied, MTM, current on payment (have been managed by a professional PM company, can continue to manage if needed)
Income: Similar houses in the neighborhood are renting for ~ $1100-1200 (ROI 18% and cashflow $600+/month)
Other features: Located in the College Drive neighborhood, only 10 minutes away from Lawrence Technological University and University of Detroit Mercy College of Engineering and Science. Very nice block. The house is listed on MLS as 3 bedrooms(can be converted back to 3 beds easily)