6346 Farmbrook St

Detroit, MI 48224
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3 bd, 1 ba | 1,544 sqft | Built in 1948

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List Price
$80,000

Initial Investment

$21,255

Purchase Price

$78,000

Down Payment

25%

Rent

$850

Total Return

$25,410

Annualized Return

17.0%

Cap Rate

5.9%

Gross Yield

13.1%

Cash Flow

-$184

Appreciation

6.0%
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Features

Occupancy

Occupied

Lease Start

04/01/2021

Lease End

04/30/2022

Lot Size

4,792

HOA

None

Flood Risk

Not Required

  • Highlights/Opportunity: Below market rent rate
  • Location: Close to stores, public schools, churches and restaurants; Detroit is home to 100 Fortune 500 companies, including Penske Automotive, Quicken Loans, Kellogg, Whirlpool, and Walmart
  • Improvements/Condition: Interior was renovated in 2019

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Annual Financial Highlights

Expected Rent

$9,690

Expenses

-$3,134

Property Taxes

-$2,500

Loan Payments

-$4,240

Net Cash Flow

-$184

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