Cash Cow
91 Elm Street, River Rouge, MI
13.32% return
SP:
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Property Description

Amazing Investment!!! 

Quadplex. All brick. 4 large 2bed/1bath units. Each unit has a balcony and will rent easily for $800-850. Fully occupied. Garage in the back. Tons of upside and growth in the city! Insane returns on investment. Property management is available. Do not miss out on this opportunity. 

Property Information

  • Listing statusPending
  • Property typeMulti Family
  • Total units4
  • Total bedrooms8
  • Total bathrooms4
  • Building size4908 sq. ft.
  • Lot size0.0 acres
  • Year built1925
  • CountyWayne County
  • Subdivision
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingBoiler
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $189,000
  • Estimated rehab 1 $0
  • Total investment $189,000
  • Type Proforma
  • Gross income (annually) $38,400
  • Operating expenses (annually) $13,226
  • Net income (annually) $25,174
  • Gross return 20.32%
  • Gross income (monthly) $3,200
  • Operating expenses (monthly) $1,102
  • Net income (monthly) $2,098
  • Net return 13.32%

Property Income & Expenses

  • Income
  • Unit 1: 2 bed / 1 bath $800/month $9,600/year
  • Unit 2: 2 bed / 1 bath $800/month $9,600/year
  • Unit 3: 2 bed / 1 bath $800/month $9,600/year
  • Unit 4: 2 bed / 1 bath $800/month $9,600/year
  • Total $3,200/month $38,400/year
  • Expenses
  • Property Taxes $402/month $4,826/year
  • Maintenance reserve $167/month $2,000/year
  • Insurance (estimated) $208/month $2,500/year
  • Water and Sewer $175/month $2,100/year
  • Gas Utility Bill $150/month $1,800/year
  • Total $1,102/month $13,226/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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