2
See all 2 photos
$145,000
Est. payment /mo
3 Beds
1 Bath
1,150 SqFt
New
16550 Freeland Street Detroit, MI 48235
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Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,150 sqft
Price per Sqft $126
MLS Listing ID 20251006293
Bedrooms 3
Full Baths 1
Year Built 1941
Annual Tax Amount $2,086
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 38X110
Property Sub-Type Single Family Residence
Source Realcomp
Property Description
This one is for investors! Section 8 occupied at $1300/m. This property is part of a 4-property investor portfolio and will only be sold as part of the full package. No cherry picking. Package price is $650,000 for all four homes. At a package price of $650,000, this deal offers a cap rate of 9.05%, GRM of 9.34 and a DSCR of 1.36. Addresses include: 19775 Burgess ($1,700/mo rent), 20201 Grandville ($1,600/mo rent), 9117 Brace ($1,200/mo rent, Section 8), and 16550 Freeland ($1,300/mo rent, Section 8). Total portfolio rent: $5,800/month or $69,600/year. All properties are fully leased, tenant-paid utilities, and in turnkey condition. Contact listing agent for rent roll, leases, and additional info. This deal is ideal for an investor seeking stability, cash flow, and low management overhead. It qualifies for conventional and DSCR financing. Whether you're scaling a local portfolio or investing from out of state, this package offers the kind of hands-off income most investors are looking for in the Detroit market. You will cash flow from day 1. Freeland St is located in a very desirable area. Brick bungalow with 3 bedrooms, a full basement and a detached garage.
Location
State MI
County Wayne
Area Wayne County - 100
Direction S of MCNICOHLS, W of SCHAEFER
Interior
Heating Forced Air
Exterior
Parking Features Detached
Garage Spaces 1.0
View Y/N No
Garage Yes
Building
Story 2
Water Public
Schools
School District Detroit
Others
Tax ID 22035715
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Keller Williams First