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8210 Decatur Street Detroit, MI 48228
2 Baths
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Coming Soon
Purchase Type For Sale
MLS Listing ID 20261041552
Year Built 1927
Annual Tax Amount $6,165
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 35X126.7
Source Realcomp
Property Description
SECTION 8 TENANT IN PLACE AND CASHFLOWING! Welcome to the SECTION 8 passive cashflow that Detroit has to offer. This property is the perfect entry point and has all the basics of a sound investment: (1) Existing cashflow with a long term SECTION 8 tenant in place at $1237/month(2) Plenty of EQUITY to refinance and even execute a BRRR to pull all the money out(3) Great potential for appreciation. Detroit is on the raise and this property's close proximity to Dearborn makes it even better. That's not all - the upper unit is totally renovated and tenant ready. The seller is determined to make this an easy win for you so there is one more perk. This property is profesionally managed by a management company specifically focused on Detroit Section 8 and if you keep them on, they'll lease the upper unit. Key highlights: - New boiler 5 years ago ($6000 install)- New drain line to the city tap with permits pulled ($5000)- Upstairs unit totally updated and ready to a section 8 tenant for about $1100 for total income of $2237- No known roof leaksSome defered maintenance: - front porch will need to be repaired soon as it's sinking- Siding has a few gaps in it so probably will need to be repaired or replaced soon- no known information or visibility about the roofTerms of the offer: - offers without a physical walk through by a contractor, agent or buyer will not be considered- offers must have a proof of funds, pre-approval and be completely filled out- This is priced to sell fast so seller will only select buyers who show a level of urgency
Location
State MI
County Wayne
Zoning Residential
Direction Turn onto Decatur st. from Schaefer
Interior
Heating Baseboard, Forced Air, Radiant
Exterior
View Y/N No
Building
Water Public
Structure Type Brick,Shingle Siding,Wood Siding
Schools
School District Detroit
Others
Tax ID W22I032236S
Acceptable Financing Cash, Conventional, Land Contract
Listing Terms Cash, Conventional, Land Contract
Special Listing Condition {"Other":true}
Listed by NEXGEN Realty