25
See all 25 photos
$99,000
Est. payment /mo
2 Baths
2,400 SqFt
New
8210 Decatur Street Detroit, MI 48228
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $41
Subdivision Mi
MLS Listing ID 61017148
Style 2 Story
Full Baths 2
Year Built 1927
Annual Tax Amount $6,165
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 35X126.7
Property Sub-Type Multi-Family
Property Description
SECTION 8 TENANT IN PLACE AND CASHFLOWING! Welcome to the SECTION 8 passive cashflow that Detroit has to offer. This property is the perfect entry point and has all the basics of a sound investment: (1) Existing cashflow with a long term SECTION 8 tenant in place at $1237/month (2) Plenty of EQUITY to refinance and even execute a BRRR to pull all the money out (3) Great potential for appreciation. Detroit is on the raise and this property's close proximity to Dearborn makes it even better. That's not all - the upper unit is totally renovated and tenant ready. The seller is determined to make this an easy win for you so there is one more perk. This property is profesionally managed by a management company specifically focused on Detroit Section 8 and if you keep them on, they'll lease the upper unit. Key highlights: - New boiler 5 years ago ($6000 install) - New drain line to the city tap with permits pulled ($5000) - Upstairs unit totally updated and ready to a section 8 tenant for about $1100 for total income of $2237 - No known roof leaks Terms of the offer: - offers without a physical walk through by a contractor, agent or buyer will not be considered - offers must have a proof of funds, pre-approval and be completely filled out - This is priced to sell fast so seller will only select buyers who show a level of urgency
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Residential
Rooms
Basement Block
Interior
Heating Baseboard, Forced Air, Radiant
Fireplace No
Exterior
Exterior Feature Brick, Wood
Building
Story 2 Story
Foundation Basement
Water Public Water
Structure Type Brick,Wood
Schools
School District Detroit City School District
Others
Energy Description Natural Gas
Financing Cash,Conventional Blend,FHA,VA
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by NEXGEN Realty
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