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Jackie Jones Kapuscinski

jackie@jackiejonesrealtor.com +1(419) 260-2806

$ 85,000

Est. payment | -/mo

2 Baths

1,774 SqFt

Save

$ 85,000

Est. payment | -/mo

Save

2 Baths

1,774 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,774 sqft

Price per Sqft $47

Subdivision Mi

MLS Listing ID 61022845

Style 1 1/2 Story

Full Baths 2

Year Built 1929

Annual Tax Amount $773

Lot Size 3,484 Sqft

Acres 0.08

Lot Dimensions 35X100.28

Property Sub-Type Multi-Family

Property Description

You found me, and if a brick two-family with income already in place is what you've been hunting for on Detroit's west side, you can stop looking. I'm 13989 Cherrylawn, a brick and vinyl two-family with an original fireplace surround and mantel, arched doorways, a decorative ceiling medallion, and original mosaic tile bathroom flooring, the kind of detail builders don't put in anymore. My hardwood floors are preserved underneath the laminate throughout, waiting for you to reveal them whenever you're ready. A partially finished basement and a 2-car detached garage behind a covered brick porch add everyday convenience. Here's what makes me interesting on paper. One unit is already tenant occupied at 800 dollars a month, and assuming today's roughly 6.75 percent rate, a DSCR loan at 20 percent down puts your cash-on-cash return around 25 percent using that income alone, meaning for every dollar you put in, you'd get about a quarter back every year after the mortgage. Live in the other unit yourself and that same 800 dollars a month can cover the bulk of your payment. Rent both units out at similar rates instead, and a low-down-payment FHA or conventional buyer could see cash-on-cash returns well over 100 percent, since so little cash goes in relative to the income coming back. I sit in the Livernois and Grand River corridor on Detroit's west side, minutes from Henry Ford Hospital and Marygrove College, with quick access to I-96 for a straight shot downtown, the kind of location that keeps tenant demand steady for years to come. Reach out to the listing agent for details.

Location

State MI

County Wayne

Area Detroit (82001)

Zoning Multi-Family

Rooms

Basement Partially Finished

Interior

Heating Forced Air

Cooling Ceiling Fan(s)

Fireplace No

Exterior

Exterior Feature Brick, Vinyl Siding

Building

Story 1 1/2 Story

Foundation Basement

Water Public Water

Structure Type Brick,Vinyl Siding

Schools

School District Detroit City School District

Others

Ownership Private

Energy Description Natural Gas

Financing Cash,Conventional,FHA

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

Listed by Pretty Home Realty

NEARBY SCHOOLS & PROPERTIES

"I am here to help you every step of the way. Whether you are a first time home buyer or an experienced home owner, my goal is to make the process stress free and help you find the home of your dreams."

+1(419) 260-2806

jackie@jackiejonesrealtor.com

1910 IndianWood Circle, Maumee, OH 43537, USA

13989 Cherrylawn Street Detroit, MI 48238 2428