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10110 Cadieux Rd, Detroit, MI 48224

View Smart Contracts: Eth xDai

Total Investment: $ 1,187,720.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.33%

    Not including capital appreciation

  • Rent per Token

    $ 4.82 / year

  • Rent Start Date

    June 19, 2023

  • Token Price

    $ 51.64

  • Total Tokens

    23,000

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

  • Full Address

    10110 Cadieux Rd, Detroit, MI 48224

  • Neighborhood

    Yorkshire Woods

  • Construction Year

    1955

  • Stories

    1 Stories

  • Total Units

    29 Units

  • Bedroom/Bath

    24x1 Bed, 5x Studio / 29x1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 194,220.00

  • Gross Rent / month

    $ 16,185.00

  • Monthly Costs

    - $ 6,948.50
    • Property Management (8.00%)
      - $ 1,294.80
    • RealT Platform (2.00%)
      - $ 323.70
    • Maintenance Expenses
      - $ 1,000.00
    • Property Taxes
      - $ 1,100.00
    • Insurance
      - $ 430.00
    • Utilities
      - $ 2,800.00

  • Net Rent / month

    $ 9,236.50

  • Net Rent / year

    $ 110,838.00

  • Total Investment

    $ 1,187,720.00
    • Underlying Asset Price
      $ 970,000.00
    • Operating Expense Reimbursement (10%)
      $ 118,763.33
    • Initial Maintenance Reserve
      $ 32,370.00
    • Initial Renovation Reserve
      $ 65,000.00
    • Administrative Fees
      $ 1,500.00
    • Unrounded Listing Price
      $ 1,187,633.33
    • Rounding Difference
      $ 86.67

  • Expected Income

    9.33%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    24,200

  • Foundation

    Masonry Block

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Interior Size (sqft)

    11,760

  • Heating

    Forced Air

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Partial

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-10110-CADIEUX-RD-DETROIT-MI

  • Total Tokens

    23000

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    May 12, 2023

  • Issuer

    RealToken International 10110 Cadieux Rd Inc

  • Min. Investment Amount

    $51.64

  • Max. Investment Amount

    $1,187,720.00

  • Amount Raised

    $1,187,720.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

10110 Cadieux

10110 Cadieux perfectly showcases the vision and strategy developed by RealT since 2019. As you can see on the map, this building is located in the northwest of the city where we have already developed concentric circles and economies of scale with 10411-10421 Cadieux, 10435-10445 Cadieux, 10030 Cadieux, and 10040 Cadieux.

This acquisition is the product of over 6 months of negotiations with the seller, and we are very pleased with the result. As you can see in the financials tab, the price of the underlying asset is $970,000 – but it started at $1,300,000!

To distribute an expected rental income of 9.33%, we have budgeted $65,000 in renovations to refresh the property, with a focus on renovating 3 units now and 4 additional units as tenants move out by the end of May.

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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