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Phone: (800) 788-5179

Email: contact@flippingkings.com

Property id(7303) is Reserved

Property id(7303) is Sold

Email: contact@flippingkings.com

(800) 788-5179

27121 Norfolk St, Inkster, michigan 48141Download Brochure

Short Remarks

2 BED, 1 BATH HOME IN INKSTER MI

SECTION 8 TENANT

***RETAIL GRADE REMODEL WITH NEW:

ROOF WITH 30 YEAR ARCHITECTURAL SHINGLES
FURNACE
HOT WATER HEATER
VINYL WINDOWS
VINYL SIDING
CARPET
KITCHEN CABINETS, COUNTER TOP, AND SINK
TILE KITCHEN FLOORING
BATHROOM VANITY, MIRROR, AND TOILET
TILE BATHROOM FLOORING AND SHOWER SURROUND
PLUMBING AND PLUMBING FIXTURES
ELECTRICAL PANEL AND ELECTRICAL FIXTURES
WINDOW COVERINGS
LIGHTING THROUGHOUT
DOORS AND HARDWARE
INTERIOR TWO-TONE PAINT

EXCELLENT MANAGEMENT IN PLACE




Full Remarks

WOULDN’T IT BE NICE TO BE AT THE BEGINNING OF THE CURVE FOR ONCE INSTEAD OF TRYING TO CATCH THE TAIL END!?

Then continue to read:

Inkster City is the last Decent Island of affordability in the Metro Detroit area. Sitting just west of Detroit and just a few miles from the International Airport, it’s surrounded by the bustling cities of Dearborne Heights, Westland, Wayne, Taylor and Garden City. All of which have seen high appreciation over the last year.

Appreciation 2017: Dearborn Heights = +17%, Garden City = +20%, Westland = +10%, Taylor = +13% and Wayne = +20%. Detroit saw a 10% increase over last year as well.

Homeowners are now looking to Inkster as an affordable alternative to neighboring cities. Until recently this area has been mostly bought up by investors looking to own rentals with great returns, but it seems the tide is starting to turn and home owners are returning. Often if you can’t afford to live in a particular city or area then you’ll move as close to that area as you can, we see that happening with Inkster.

Our company is one of just a few approved companies that is working directly with the city, mayor and building department in an effort to improve the city one block at a time. We're literally changing neighborhoods!

PROPERTY MANAGEMENT- From experience we find it best to keep the property with the existing property management company. It makes for a seamless transition and doesn’t create any needless concerns with the existing tenants. These tenants build relationships with the PM’s (property manager) as well as a history, so we try not to rock the boat. Tenants Security deposits will be transferred internally at the PM’s office from our account to your account once it’s set up. Pro-rated rents are paid at closing for the month that you purchase in, after that you will receive monthly rent payments from the property management company.

***In 2016 the New York Times named Detroit the “Comeback City”.  Multiple media outlets consistently rate Detroit in the top 10 best places to buy rental properties in the country and a 2016 CNBC Poll ranked Michigan in the “Top 10 Best Places to do Business”.  With record low pricing, record increases in rent premiums, and a resurging and diversifying job market, the perfect opportunity to buy low price and high yield properties was created. This city and its surrounding suburbs are on their way back up with the help of Fortune 500 companies and the government. In May 2015 General Motors announced the investment of $1 billion into their Detroit area technology park.  This investment is expected to bring 2900 new jobs to the area.  Detroit is an international city and with the construction of the new Gordy Howe bridge to Canada 10,000 new jobs will be created.  Values continue to rise as the investment world focuses attention on Detroit as a great area to buy and hold.  We have been investing in Detroit ever since the housing crisis and all we have seen is an increase in home prices and a higher demand for rental units throughout the years. 2017 Appreciation was 10%! This is a great market and we believe it will only get better.

  • Purchase price :

    $69,900
BUY NOW
  • Property Details

  • Bedrooms:

    2
  • Baths:

    1
  • Sq FT:

    816
  • YEAR Built:

    1925
  • TYPE:

    Single Family
  • LOT SIZE:

    6,055
  • Cash Flow analysis

  • MONTHLY RENT PMT :

    $783
  • ANNUAL RENT :

    $9,396
  • Estimated* Hazard Insurance:

    $500
  • Estimated* Property Taxes:

    $750
  • Property Management Exp:

    $939
  • Annual Utilities Exp:

    $0

Estimated* Net Income:

$7,207

* These estimates are based on current information and projections and are not a guarantee of future income. All investments have risk. Additional or increased expenses and vacancies could effect your actual realized return on your real estate investment property.

Comps

Property Address Purchase Price Date Sold Type of Deal # of Beds # of Baths
27053 Norfolk, Inkster MI $66,000 11/21/17 Single Family 2 1
26150 Avondale, Inkster MI $75,000 7/6/17 Single Family 2 1
26073 Dartmouth, Inkster $68,800 6-1-18 Single Family 2 1