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10024-10028 Appoline St, Detroit, MI 48227

View Smart Contracts: Eth xDai

Total Investment: $ 694,948.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    7.69% Partially Rented

    Not including capital appreciation

  • Rent per Token

    $ 13.37 / year

  • Rent Start Date

    January 28, 2020

  • Token Price

    $ 173.74

  • Total Tokens

    4,000

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above yield for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

  • Property Type

    Multi Family

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Barton - McFarland

  • Construction Year

    1969

  • Total Units

    15 Units

  • Rental Type

    Long-term

  • Rented?

    12 / 15 Units

  • Rent Subsidy?

    Section 8

  • Rent Subsidy Pays...

    100%

Property Financials

  • Gross Rent / year

    $ 87,300.00

  • Gross Rent / month

    Partially Rented $ 7,275.00

  • Monthly Costs

    - $ 2,819.17
    • Property Management (8.00%)
      - $ 582.00
    • RealT Platform (2.00%)
      - $ 145.50
    • Property Taxes
      - $ 804.75
    • Insurance
      - $ 470.25
    • Utilities
      - $ 816.67

  • Net Rent / month

    $ 4,455.83

  • Net Rent / year

    $ 53,469.96

  • Total Investment

    $ 694,948.00
    • Underlying Asset Price
      $ 694,248.00
    • Initial Maintenance Reserve
      $ 700.00
    • Unrounded Listing Price
      $ 694,948.00

  • Expected Income

    Partially Rented 7.69%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    29,620

  • Interior Size (sqft)

    12,064

Test Renovation content!

Offering Details

  • Offering Date

    January 27, 2020

  • Issuer

    RealToken LLC - Series #8 - 10024-1028 Appoline

  • Min. Investment Amount

    $173.74

  • Max. Investment Amount

    $694,948.00

  • Amount Raised

    $694,948.00

  • Offering Percent (of Total Tokens)

    100.00%

Property Valuation

  • 2022

    May 01
    825 days since prior valuation

    Asset Valuation

    $ 694,248.00

    Annual Change

    +14.95%

    Total Investment

    $ 694,948.00

    Token Price

    $ 173.74

    Capital ROI

    +13.00%

    Reg Distributed

    $ 58,222.22

    New Photos

    No new photos at this time.

  • 2020

    Jan 27
    Initial Valuation

    Asset Valuation

    $ 519,000.00

    Total Investment

    $ 582,200.00

    Token Price

    $ 145.56

    Initial Valuation

    Values derived in: Property Financials Tab

Rent Assistance!

This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.

The rent of Section 8 properties is usually exceptionally stable.

Learn More

About the Property

10024-10028 Appoline Street is the located in the heart of the revitalization of the greater Detroit area. The Barton-McFarland neighborhood is a blue-collar area where the resurgence of the automobile industry has positively impacted the local housing market. This 15-unit apartment building is located across the street from a public park, and within walking distance of six community churches. 10024-28 Appoline is also just 5 minutes from the I-96 freeway, while being far enough to not be negatively impacted by the noise pollution.

Built in the 60’s, all 15 units were recently upgraded to conform to current market standards. In 2018, the roof was completely replaced. The apartment is currently fully rented, with a wait-list of available renters due to the below-market rate of $620 per month per unit.

To see a walkthrough of the property, please visit: http://smartfloorplan.com/p/t/shell5.php?id=v440516

Map

Property Records

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Why Detroit?

INVEST RIGHT

Detroit, one of the fastest growing major cities in America and best kept real estate secrets, is rich with history, and  possesses a colorful cultural fabric. Despite being among the 15 largest metro areas in the US, Detroit drivers spend the least amount of time in traffic during peak periods. Beyond automotive innovation, Detroit is home to dozens of startup incubators, and is surging on Inc.’s list of top 50 cities to start a business*. Root for the Lions, Tigers, Pistons and Red Wings, or enjoy the outdoors with over 200 miles of hiking trails nearby, 9 state parks, and over 3200 miles of coastline to explore.

There’s something for everyone here, because Detroit is for everybody.

The Interests, in the form of Series #1 RealTokens and future series of RealTokens, being offered are highly speculative in nature, involve a high degree of risk and should be purchased only by persons who can afford to lose their entire investment. There can be no assurance that the Company’s business objectives will be achieved or that a secondary market would ever develop for the Interests, whether via the RealToken Website, via third party registered broker-dealers or otherwise. Investing in private placements requires high risk tolerance, low liquidity concerns, and long-term commitments. The Interests being sold are not FDIC insured, may lose value, and there is no bank or other guarantee.

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