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Phone: 6194853322

Email: info@azimuthrev.com

Property id(7312) is Reserved

Property id(7312) is Sold

Email: info@azimuthrev.com

6194853322

28973 Glenwood 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
WATER HEATER
VINYL WINDOWS
VINYL SIDING
KITCHEN CABINETS, COUNTER TOP, AND SINK
TILE KITCHEN FLOORING
BATHROOM VANITY, MIRROR, AND TOILET
TILE BATHROOM FLOORING AND SHOWER SURROUND
DOORS AND HARDWARE
INTERIOR AND EXTERIOR LIGHTING
INTERIOR TWO-TONE PAINT
WINDOW COVERINGS
PLUMBING AND PLUMBING FIXTURES
ELECTRICAL PANEL AND ELECTRICAL FIXTURES

WOW! SIX MONTH TENANT PLACEMENT WARRANTY (TENANT PLACED IN JULY) 

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.

METRO DETROIT HIGHLIGHTS

What’s happening in Metro Detroit has been described as “a boom coming to Detroit unlike anything that's been seen since the 1920s”

There’s simply too much going on in Metro Detroit to list, so here’s a few recent articles and highlights:

*Announced July ,2018 -- Chemical Bank moving HQ to Detroit = 500 New High Paying Jobs And build a 20 story building downtown. https://www.detroitnews.com/story/news/local/detroit-city/2018/07/25/chemical-bank-locate-detroit-becomes-primary-banking-partner/830326002/

*Ford Motor Company has spent an estimated $750 Million dollars buying up land in Corktown, Detroit (historic downtown area)

  • 5,000 jobs will be brought to a new Corktown campus that will include the Michigan Central Depot, the recently retrofitted Factory Building and the book repository building next to the train station. The workforce will concentrate on mobility, autonomy and electrification.

https://www.detroitnews.com/story/opinion/editorials/2018/06/17/ford-corktown-downtown-detroit-construction-boom/705978002/

*Michigan Avenue – (the main vein in Detroit) is going to be turned into a “Smart Corridor” where they will test self-driving cars, electric transportation, etc….

*Detroit has the 2nd highest rent-to-value ratio in the country at just over 8.5%.

*Little Ceasers Arena is completed which houses the Detroit Red Wings, this is a big catalyst to the re-development of the 50 block downtown area.

*Major budget increase for education in Detroit https://www.detroitnews.com/story/opinion/editorials/2018/02/07/budget-targets-right-priorities/110209624/

* Gilbert’s Rock Ventures wants to use the unfinished jail site in Greektown for a $1 billion mixed-use development anchored by an Major League Soccer stadium and high-rise buildings. That development could have more than a $2.4 billion economic impact.

https://www.detroitnews.com/story/news/local/wayne-county/2017/10/05/wayne-county-jail-deal-gilbert-soccer-stadium/106320100/

*Not to mention the New Bridge “Gordie Howe International Trade Crossing” this bridge will connect Canada to Detroit creating 10,000 new construction jobs.

*In the Arena District all of Detroit’s professional sports teams are within walking distance of each other, which is a huge draw to the area.

*Big 3 Auto Industry’s corporate headquarters are located in Detroit alongside 9 other Fortune 500 companies. Detroit truly is the “comeback city” and this helps support all of the surrounding suburb cities.

  • Purchase price :

    $73,500
BUY NOW
  • Property Details

  • Bedrooms:

    2
  • Baths:

    1
  • Sq FT:

    720
  • YEAR Built:

    1955
  • TYPE:

    Single Family
  • LOT SIZE:

    5,662
  • Cash Flow analysis

  • MONTHLY RENT PMT :

    $825
  • ANNUAL RENT :

    $9,900
  • Estimated* Hazard Insurance:

    $500
  • Estimated* Property Taxes:

    $830
  • Property Management Exp:

    $990
  • Annual Utilities Exp:

    $0

Estimated* Net Income:

$7,580

* 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
26102 Lehigh, Inkster $68,500 7-1-18 Single Family 2 1
26150 Avondale, Inkster MI $75,000 7/6/17 Single Family 2 1
3826 John Daly, Inkster MI $68,800 2/2/17 Single Family 2 1