5865 Woodbine

Pinckney, MI 48169
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1 bd, 1 ba | 798 sqft | Built in 1999

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List Price
$210,000

Initial Investment

$57,225

Purchase Price

$210,000

Down Payment

25%

Rent

$1,500

Total Return

$99,947

Annualized Return

22.5%

Cap Rate

5.8%

Gross Yield

8.6%

Cash Flow

$39

Appreciation

8.2%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

13,939

HOA

None

Flood Risk

High Risk - Zone AE

This very old log cabin on the river's edge has weathered many changes over the years. As the families who owned it expanded, so did the cabin, which became more of a home. Although it was originally two rooms, a kitchen and living room were eventually added on. One room was used as a bedroom, but has no closet so it is technically a one-bedroom cabin. This cabin is a diamond in the rough, or a good start to make something bigger - as long as you're mindful of the seasonal change in the river's level. But oh the possibilities! Walk out your front door onto your pontoon/kayak/canoe and go down river to Zukey Lake and the Portage-Baseline chain of lakes! GIS shows you own to the waters edge so you may be able to have your own dock. This home is being sold STRICTLY AS-IS.

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

Annual Financial Highlights

Expected Rent

$17,100

Expenses

-$3,044

Property Taxes

-$2,600

Loan Payments

-$11,417

Net Cash Flow

$39

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:Laura Palmer Kennedy
Agent License 6501312588
Laura Palmer Kennedy
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceGreater Kalamazoo
MLS #24016220
Last Updated: 04/06/2024 21:04
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