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13000 Promenade St, Detroit, MI 48213

View Smart Contracts: Eth xDai

Total Investment: $ 78,290.50

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.15%

    Not including capital appreciation

  • Rent per Token

    $ 4.62 / year

  • Rent Start Date

    October 1, 2023

  • Token Price

    $ 50.51

  • Total Tokens

    1,550

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

    Single Family

  • Full Address

    13000 Promenade St, Detroit, MI 48213

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Conner

  • Construction Year

    1931

  • Bedroom/Bath

    4 Beds / 2 Baths

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 11,760.00

  • Gross Rent / month

    $ 980.00

  • Monthly Costs

    - $ 383.00
    • Property Management (8.00%)
      - $ 78.40
    • RealT Platform (2.00%)
      - $ 19.60
    • Maintenance Expenses
      - $ 120.00
    • Property Taxes
      - $ 120.00
    • Insurance
      - $ 45.00
    • Utilities
      Tenant-paid

  • Net Rent / month

    $ 597.00

  • Net Rent / year

    $ 7,164.00

  • Total Investment

    $ 78,290.50
    • Underlying Asset Price
      $ 59,000.00
    • Operating Expense Reimbursement (10%)
      $ 7,828.89
    • Initial Maintenance Reserve
      $ 1,960.00
    • Initial Renovation Reserve
      $ 8,000.00
    • Administrative Fees
      $ 1,500.00
    • Unrounded Listing Price
      $ 78,288.89
    • Rounding Difference
      $ 1.61

  • Expected Income

    9.15%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    5,880

  • Foundation

    Masonry

  • Exterior Walls

    Brick / Siding

  • Roof Type

    Asphalt

  • Interior Size (sqft)

    1,586

  • Heating

    Forced Hot Water, gas

  • Building Class

    C

  • Renovated

    Yes

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-13000-PROMENADE-ST-DETROIT-MI

  • Total Tokens

    1550

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    September 1, 2023

  • Issuer

    RealToken International 13000 Promenade St Inc

  • Min. Investment Amount

    $50.51

  • Max. Investment Amount

    $78,290.50

  • Amount Raised

    $78,290.50

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

13000 Promenade
Unlock the Potential

Nestled in a lively neighborhood, 13000 Promenade is currently undergoing a transformation across its 1,586 square feet, enclosed by a 5,880 square foot lot. In close vicinity to parks, malls, and the Duke Ellington Conservatory of Music & Art at Beckham Academy, 13000 Promenade is a perfect home for individuals and families seeking a blend of culture, leisure, and growth.

Efficient Management and Cost Savings

RealT’s ownership of additional properties nearby, such as on Wilshire Dr, enables more efficient property management, resulting in lower operational expenses and increased value for both homeowners and investors.

Strategic Transformation and Growth

13000 Promenade’s ongoing rehab already includes new windows, a new porch, back steps, furnace, water tank, paint, flooring, and the removal of the back garage. We have a budget of $8,000 to finish the kitchen and the fence around the property and handle some deferred maintenance. A tenant has already been selected and will move in on October 1st. For the discerning investor, an anticipated annual return of 9.15% presents a strong investment opportunity with room for growth.

Lasting Appeal

The comprehensive renovations ensure that the lasting appeal and charm of 13000 Promenade will be preserved, making it an attractive option for tenants and ensuring its allure for years to come.

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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