16044 Fairmount Drive
Detroit, MI 48205
904 sqft | 3 beds | 1 bath | 0.10 acres | #25041771
Description
Prime Investment Opportunity in Detroit
This isn't just another property; it's a turnkey, cash-flowing asset ready to elevate your portfolio. Located on a peaceful residential street, this tenant-occupied home offers immediate, reliable income and is a smart addition for any investor looking for both stability and growth.
Key Investment Highlights:
Instant Cash Flow: Start generating income from day one. This property comes with a stable, long-term tenant already in place.
Proven Reliability: The current tenant has a remarkable 15-year history of on-time payments, providing a consistent and predictable income stream of $770/month.
Strategic Value-Add Potential: Beyond the immediate cash flow, there's significant upside. With some targeted improvements, you can increase the property's value and boost your returns over time.
Location, Location, Location: Situated in a high-demand rental area of Detroit, this home is poised for continued profitability and appreciation. The location offers easy access to public transit, making it convenient for tenants to get around the city.
This property is a solid pick for both seasoned and new investors looking to build wealth in Detroit's thriving real estate market.
Property Details
- Property SubtypeSingle Family Residence
- Property TypePurchase
- MLS #25041771
- MLS #25041771
- School DistrictDetroit
- Original List Price$45,000
- Sewer InformationPublic
- Utility SourcePublic
- CountyWayne
- Cost45000
- BasementFull
- Year Built1942
- Acres0.1
- Square Feet904
- Days on Market (Cumulative)84
- Bedrooms3
- Bathrooms1
- Full Baths1
- Stories2
Location
Legal
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Last Updated: . Source: MichRIC
Listing Courtesy
Listing Agent: Kristina Khalifeh (#e427644)
Listing Office: Arterra Luxe Collection LLC (#oe431646)
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