3243 Minerva St

Ferndale, MI 48220
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4 bd, 2 ba | 2,349 sqft | Built in 1944

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List Price
$325,000

Initial Investment

$88,563

Purchase Price

$325,000

Down Payment

25%

Rent

$2,300

Total Return

$126,225

Annualized Return

19.0%

Cap Rate

5.2%

Gross Yield

8.5%

Cash Flow

-$1,966

Appreciation

7.3%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

12,589

HOA

None

Flood Risk

Not Required

Fantastic opportunity in Ferndale! This 4-bedroom, 2-bathroom home is situated on a double lot, providing additional yard space and abundant parking. The main level offers two bedrooms with hardwood flooring, a bright living area with luxury vinyl flooring and fireplace, plus a spacious kitchen featuring a center island, included appliances, and convenient side access to the yard. Upstairs are two more bedrooms with built-in storage. The lower level includes a partially finished basement with two large flex spaces, a second fireplace, a full bath, laundry area, and generous storage. Recent improvements include roof, furnace, hot water heater, insulation, flooring, and basement waterproofing. Central air, a detached 2-car garage, and close proximity to downtown amenities and highway access complete this versatile property. One year home warranty included!

See more in Analysis
Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852

Annual Financial Highlights

Expected Rent

$26,220

Expenses

-$4,667

Property Taxes

-$5,850

Loan Payments

-$17,669

Net Cash Flow

-$1,966

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

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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Listing Courtesy of:Misty Morris
Agent License 6501376311
Misty M Morris
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #20250026209
Last Updated: 04/18/2025 16:04
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