29613 Oakwood St Inkster, MI 48141
3bd, 1ba | 888sqft | Built in 1948
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Initial Investment
$66,960
List Price: $64,000
Purchase Price
$64,000
Down Payment
100%
Rent
$850

Total Return
$24,184
Annualized Return
7.2%
Cap Rate
8.1%
Gross Yield
15.9%
Cash Flow
$4,622
Appreciation
1.4%
Features
Occupancy
Occupied
Lease Start
05/31/2019 
Lease End
05/31/2020 
Lot Size
16,683 
HOA
None
Flood Risk
Not Required
  • Attractive cap rate, meets 1% rule
  • New 12-month lease started 5/31/2019
  • Vapor barrier in crawlspace installed and lifted shingles repaired (work order & photos in Diligence Vault)
  • 6 miles to Detroit Metropolitan Wayne County Airport, less than 20 miles to downtown Detroit

Annual Financial Highlight
Expected Rent
$9,690
Expenses
-$2,968
Property Taxes
-$2,100
Loan Payments
$0

Net Cash Flow
$4,622
Considerations
Property Characteristics    View Details



Inspection Contingency
This home will be inspected after the offer is accepted and prior to closing, during which time you can negotiate price or repairs based on the inspector's findings or cancel the contract. If any prior inspection reports are available, you'll find them in the Diligence Documents (Analysis tab).  If the latest inspection report is more than 4 months old, the home will be listed with an inspection contingency.
  • This property will be professionally inspected before closing.
  • You’ll have the opportunity to negotiate a lower price or repairs if any issues are identified during the inspection process.
  • Your earnest money deposit will be refunded if you cancel the transaction before the inspection contingency termination date.
  • Roofstock will let you know whether the property passes Roofstock Certification. If it fails, and you choose to carry on with the transaction, the Roofstock Guarantee will no longer apply unless issues are resolved prior to closing. 

Property Management   

Why choose?

From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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