Property Description:
4333 8th St, Ecorse, MI 48229
OFF-MARKET
VACANT
MARKET RENT: $1200+
PRICE: $31,000
ARV: $70,000+
TEXT 248-238-8391
💧 House looking for the right person to fix it up!
3 Beds, 1 Bath, Full Basement
New Furnace in 2015, New Roof/Windows in 2008
When doing comps, realize this property has a basement
There are many comps with no basement
Nice Flip or BRRRR opportunity.
UPDATES
💧 Furnace in 2015
💧 Roof / Windows in 2008
COULD USE
💧 Flooring / Paint throughout
💧 Updated Vanity / Toilet in Bathroom
💧 Paint Porch & Deck
VALUE ADD OPPORTUNITIES
💧 Update
💧 Finish Basement
💧 Place tenant at ~$1200+ per month
EXIT STRATEGIES
💧 #1: Update, place high paying tenant, refinance
💧 #2: Update, sell on market for profit
💧 #3: Sell to LC buyer & let them do the updates
💧 #4: Lease with option to buy
💧 #5: Whatever you desire - share with us!
INVESTMENT FINANCIALS
💧 Price: $31,000 (ARV ~$70,000+)
💧 Spread: ~$39,000+
💧 Return Rate: ~20%+
💧 Market Rent: $1200+/m2m
💧 Insurance: ~$40/month
💧 P Management: ~$120/month (if wanted)
💧 Taxes: ~$2000 per year
💧 Potential Cashflow: $14,400+ per year
PROPERTY DETAILS
💧 3 Bedrooms
💧 1 Bathrooms
💧 ~900 sqft
💧 Full Basement