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10410 Cadieux Rd, Detroit, MI 48224

View Smart Contracts: Eth xDai

Total Investment: $ 1,654,575.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.80%

    Not including capital appreciation

  • Rent per Token

    $ 4.99 / year

  • Rent Start Date

    July 1, 2023

  • Token Price

    $ 50.91

  • Total Tokens

    32,500

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

    10410 Cadieux Rd, Detroit, MI 48224

  • Neighborhood

    Yorkshire Woods

  • Construction Year

    1955

  • Stories

    2 Stories

  • Total Units

    35 Units

  • Bedroom/Bath

    35x1 Bed / 35x1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 315,600.00

  • Gross Rent / month

    $ 26,300.00

  • Monthly Costs

    - $ 12,790.00
    • Property Management (8.00%)
      - $ 2,104.00
    • RealT Platform (2.00%)
      - $ 526.00
    • Maintenance Expenses
      - $ 2,000.00
    • Property Taxes
      - $ 2,230.00
    • Insurance
      - $ 690.00
    • Utilities
      - $ 5,240.00

  • Net Rent / month

    $ 13,510.00

  • Net Rent / year

    $ 162,120.00

  • Total Investment

    $ 1,654,575.00
    • Underlying Asset Price
      $ 1,360,000.00
    • Operating Expense Reimbursement (10%)
      $ 165,455.56
    • Initial Maintenance Reserve
      $ 52,600.00
    • Initial Renovation Reserve
      $ 75,000.00
    • Administrative Fees
      $ 1,500.00
    • Unrounded Listing Price
      $ 1,654,555.56
    • Rounding Difference
      $ 19.44

  • Expected Income

    9.80%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    37,260

  • Foundation

    Slab

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Interior Size (sqft)

    20,416

  • Heating

    Forced Air

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Partial

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-10410-CADIEUX-RD-DETROIT-MI

  • Total Tokens

    32500

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    May 18, 2023

  • Issuer

    RealToken International 10410 Cadieux Rd Inc

  • Min. Investment Amount

    $50.91

  • Max. Investment Amount

    $1,654,575.00

  • Amount Raised

    $1,654,575.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

10410 Cadieux

From the beginning, RealT’s vision was clear: buy properties in concentric circles to benefit from economies of scale, and reduce costs by working with a team of on-site handymen. The other major benefit of this strategy is to be able to leverage the value of your portfolio. As explained in this article, when you start owning multiple properties on the same street, each small improvement creates a positive synergy that is reflected in the perceived value of the other properties.

With the acquisition of 10410 Cadieux and these 35 new units, we have reached a scale that should allow us to realize these benefits. In the same block, RealT has now tokenized 6 multi-family residences representing 121 units. At an average of 2.5 tenants per unit, RealT now manages about 300 tenants in the same block. Thanks to the diligent selection of tenants and the local team of handymen we have developed, we are poised to make a real impact on this area!

10410 Cadieux was built in 1955, and we have set aside $75,000 for renovations to improve the quality of life for our tenants. All of these synergies make for a strong expected rental income of 9.80% going forward.

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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