5739 Harrison St Garden City, MI 48135
3bd, 1ba | 1,633sqft | Built in 1976
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Initial Investment
$123,909
List Price: $121,900
Purchase Price
$121,900
Down Payment
100%
Rent
$1,200

Total Return
$34,701
Annualized Return
5.5%
Cap Rate
5.5%
Gross Yield
11.8%
Cash Flow
$5,980
Appreciation
1.4%
Financing Options
to learn more or visit our partner to get pre-approved.
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Property Management Options
  • 248-366-8484
    info@northbloomfield.com
    8081 Commerce Rd
    Commerce Township, MI 48382
    North Bloomfield Properties
    Property Management Fee:
    8% of monthly rent collected
    Leasing Fee:
    100% of first month's rent
    Renewal Leasing Fee:
    None
    Maintenance Fee:
    None
    Property Setup Fee:
    $150 per vacant property; none for occupied homes
    Marketing Fee:
    None
    Project Management Fee:
    None
    North Bloomfield Properties has always been locally owned and operated since our founding in 1989. Because of that we can offer personal service and local knowledge that no out of state franchise company could ever match. We listen to you about your needs, concerns and expectations with regard to your property. Then we pride ourselves in locating the best possible tenants for your property, then providing them with top notch, prompt, professional service. Whether you have a single home, condo or even a large apartment complex, our maintenance, legal and accounting teams work to provide the best possible service at a very competitive price.
  • (248) 335-7368
    Heather@forepm.com
    31502 Woodward Ave
    Royal Oak, MI 48073
    AG Management Company, LLC
    Property Management Fee:
    $95 per month flat fee
    Leasing Fee:
    100% of first month's rent
    Renewal Leasing Fee:
    $150 flat fee
    Maintenance Fee:
    $5 per month charged to tenant; $45/hour for general maintenance items charged to owner
    Property Setup Fee:
    $95 one-time fee
    Marketing Fee:
    None
    Project Management Fee:
    Large jobs quoted; fixed price list for common jobs available upon request
    AG Management’s goal is to provide our clients with a comprehensive management solution that maximizes profitability both in the near and long term. We offer a full range of property management services tailored to you as an investor, homeowner, or landlord. We have an extensive portfolio of single family homes, townhouses and condos in the Metro Detroit area. What sets us apart is our commitment to hiring talented and dedicated staff and providing an excellent customer experience to tenants and owners alike.
  • Tips for Self Managing Properties
    You’ve invested in a Rental Property, and are thinking about managing the property yourself? Here are the items you need to be aware of: Renting, Operating, Risk Management
    Self manage / Other
    Renting
    • Get property ready
    • Advertise
    • Show the property
    • Applicant screening
    • Move in tenants

    Operating
    • Collect rent
    • Repair requests
    • Home inspections
    • Move out process

    Risk Management
    • Fair housing
    • Insurance liability
    • Property damage
    • Habitability issues
    • Legal costs
Property Characteristics
  • Inspection Contingency
    What is it?
    This option lets the buyer specify that the home be inspected within a specific time period, during which the buyer can negotiate price or repairs based on the inspector’s findings or cancel the contract. Prior inspection reports may be available in the diligence documents. In some instances, the property has an inspection report from more than 4 months ago and needs an updated inspection.
    Benefits
    • The seller may be more willing to negotiate with a buyer in contract.
    • Opportunity to negotiate a lower price or repairs if any issues are discovered during the inspection process.
    • Ability to have the earnest money deposit refunded if the transaction is cancelled before the inspection contingency termination date.
    How it Works
    • Roofstock can refer you to our certified property manager to help you understand the property report and next steps.
    • After the purchase agreement is signed, the buyer has 20 days from the date of the contract to hire a home inspector and conduct any negotiations with the seller if necessary. The home inspection typically costs $300-$500 and is paid by the buyer and includes instances where the inspection report is more than 4 months old. If the inspection is current and buyers are using a Roofstock inspector, inspection would be free of charge.
    • Once the buyer receives the inspection report containing details on the home’s condition and potential issues, the buyer can (1) remove the inspection contingency and continue with the closing process, (2) negotiate different terms with the seller based on the report findings, or (3) in extreme circumstances, terminate the purchase agreement and get their earnest money deposit back.
    • Any negotiation or termination must happen within the time period specified in the purchase agreement, unless otherwise agreed upon between buyer and seller.
    Terms
    The inspection contingency contains a termination date which the buyer must adhere to. The buyer must have the inspection completed, review the report and negotiate with the seller on the next steps within this agreed upon timeframe. If the termination date passes and the buyer has not terminated the agreement or come to an agreement with the seller, the buyer must continue based on the terms in the initial purchase agreement.
  • Roofstock Guarantee
    What is it?
    Our industry-leading guarantee allows you to invest with total confidence, regardless of whether the home is leased or vacant.
    Benefits
    • All properties come with our 30-day money back guarantee
    • Enjoy guaranteed rent on vacant, rent-ready properties starting 45 days after closing. Plus, you will also pay no monthly management fees until your property is leased.
    • This offer applies to all single-family properties and excludes duplexes, triplexes and fourplexes.
Investment Terms
Purchase Price of $121,900 has been established by the Seller and it reflects the price at which Seller is willing to transact. If this property accepts offers, then please submit a reasonable offer for consideration.

Marketplace Fee of $609 must be paid to secure your investment property, remove it from the marketplace and initiate the purchase process.If your offer has a contingency and you cancel before the contingency termination date, the Marketplace fee will be refunded. It is non-refundable in all other cases.

Purchase and Sale Agreement (PSA): A PSA will be delivered electronically promptly following payment of the Marketplace Fee and must be executed by Buyer within 24 hours of receipt.

Earnest Money Deposit (EMD) of $1,500 must be wired to the Title Company within 3 days of PSA signing.

Appraisal Contingency is available for financed properties, and will be waived automatically if the property appraises for the sale price. If it does not appraise for the sale price, then the Buyer and Seller will have the opportunity to come to terms or the Buyer can cancel the contract.

Closing Date: The Closing Date will occur within 15 days of PSA execution for cash transactions and 30 days of PSA execution for financing unless otherwise agreed by Buyer and Seller

Lease Agreement: The current lease agreement will be provided to Buyer at Closing.

Closing Costs: Closing costs shall be paid based on local custom, and will include discounts negotiated by Roofstock to lower transaction costs for Buyers and Sellers. An estimate of closing costs is provided in the Diligence Vault and actual closing costs will be outlined on the final settlement statement.

Title and Settlement Provider: Roofstock's standard closing process includes preferred partners who act as the title and escrow agent for this property. Our preferred partners have agreed to provide discounted escrow and settlement services to purchasers of properties via the Roofstock marketplace to lower your investment costs. If you would like to use a different provider for these services, please contact us.

Listing Broker: North Star Commercial / Roofstock Realty, LLC

Learn more about the investment process