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Rob Young

ryoung@grandrapidshomes.com +1(616) 293-9119

$110,000

Est. payment - /mo

3 Beds

2 Baths

1,080 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,080 sqft

Price per Sqft $101

MLS Listing ID 20261036769

Bedrooms 3

Full Baths 1

Half Baths 1

Year Built 1936

Annual Tax Amount $2,267

Lot Size 4,791 Sqft

Acres 0.11

Lot Dimensions 41.5X118.92

Property Sub-Type Single Family Residence

Source Realcomp

Property Description

Turnkey investment opportunity with immediate income already in place. This updated brick property is currently tenant occupied at $1,400 per month, with a lease secured through October 2026, allowing you to step into cash flow from day one without the time or expense of placing a tenant. At the current rental rate, the property produces $16,800 annually in gross rental income, delivering an attractive rent-to-price ratio of over 15% gross annual return before expenses. With today's DSCR lending environment, the existing rental income positions this property well for investors seeking strong debt-service coverage and cash-flow potential. The home itself has been thoughtfully updated to support long-term tenant satisfaction and minimize future capital expenses. Featuring 3 bedrooms and 1.5 baths, the property offers updated flooring, modern finishes, and a clean neutral interior that continues to attract strong rental demand. The functional layout, the modern updates, and the newer roof make this an ideal low-maintenance addition to any portfolio. Whether you're expanding your portfolio or securing your next reliable rental, this property offers the combination investors are looking for: performing income, secured tenancy, updated condition, and strong rental fundamentals at an appropriate price point.

Location

State MI

County Wayne

Direction N of Joy Rd and E of Schaefer Hwy

Interior

Heating Forced Air

Fireplaces Type Living Room

Fireplace true

Exterior

View Y/N No

Garage No

Building

Story 2

Sewer Public

Water Public

Structure Type Brick

Schools

School District Detroit

Others

Tax ID W22I029454S

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

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Listed by Keller Williams First

NEARBY SCHOOL & BUSINESS

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Rob Young

+1(616) 293-9119

Broker Associate | License ID: 6506039987

Broker Associate License ID: 6506039987

8897 Hartwell Street Detroit, MI 48228

Rob Young

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

REQUEST INFORMATION or SCHEDULE SHOWING