MULTIUNIT

8102 Burnette St, Detroit, MI 48204

$110,000 After Repair Value -
$60,000 Asking Price -
$35,000 Cost of Repairs =
$15,000 Potential Profit

Property Details

Asking Price $60,000

After Repair Value $110,000

Costs of Repairs $35,000

Potential Profit $15,000

Living Area N/A

Property Type Multi-Family

Bedrooms 4

Bathrooms 2

Half Bathrooms N/A

Parking 1

Listed with Agent 1

EPI (Estimated Potential Income)

Potential Rental Income $1,400

Yearly Expenses $3,000

Property Taxes $1,000

Net Operating Income $1,280

Cap Rate 8.5

Property Description

We are selling our assignment. Comps are pulling at $110k the area is still being developed. Great income producing property. There are about 8400 in back water and taxes. With rental income potentially bring in 12,600 or more a year. It will need repairs and updates

Repairs Needed

New roof \r\nPossible pipes/plumbing \r\nHoles to be patched up \r\nNew Furnace possibly \r\nNew hot water tank \r\nFloor repair in lower unit dining room\r\nNew floors in bathroom and kitchen \r\nCosmetic work

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