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14511 Houston-Whittier St, Detroit, MI 48205

View Smart Contracts: Eth xDai

Total Investment: $ 643,840.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.06%

    Not including capital appreciation

  • Rent per Token

    $ 5.06 / year
  • Rent Start Date

    November 4, 2022
  • Token Price

    $ 50.30
  • Total Tokens

    12,800

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

    14511 Houston-Whittier St, Detroit, MI 48205
  • Neighborhood

    Mapleridge
  • Construction Year

    1962
  • Stories

    2 Stories
  • Total Units

    14 Units
  • Bedroom/Bath

    14x1 Bed / 14x1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    No

Property Financials

  • Gross Rent / year

    $ 107,640.00
  • Gross Rent / month

    $ 8,970.00
  • Monthly Costs

    - $ 3,572.00
    • Property Management (8.00%)
      - $ 717.60
    • RealT Platform (2.00%)
      - $ 179.40
    • Maintenance Expenses
      - $ 130.00
    • Property Taxes
      - $ 1,000.00
    • Insurance
      - $ 245.00
    • Utilities
      - $ 1,300.00
  • Net Rent / month

    $ 5,398.00
  • Net Rent / year

    $ 64,776.00
  • Total Investment

    $ 643,840.00
    • Underlying Asset Price
      $ 548,000.00
    • Operating Expense Reimbursement (10%)
      $ 64,388.89
    • Initial Maintenance Reserve
      $ 15,000.00
    • Initial Renovation Reserve
      $ 8,000.00
    • Administrative Fees
      $ 500.00
    • Unrounded Listing Price
      $ 643,888.89
    • Rounding Difference
      - $ 48.89
  • Expected Income

    10.06%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    11,761
  • Foundation

    Masonry
  • Exterior Walls

    Brick
  • Roof Type

    Rubber
  • Parking

    20 outside spaces on the side and back
  • Interior Size (sqft)

    10,826
  • Heating

    Circulated Hot Water
  • Cooling

    None
  • Building Class

    C
  • Renovated

    Maintained throughout the years
  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-14511-HOUSTON-WHITTIER-ST-DETROIT-MI
  • Total Tokens

    12800

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    October 6, 2022
  • Issuer

    RealToken International 14511 Houston-Whittier St Inc
  • Min. Investment Amount

    $50.30
  • Max. Investment Amount

    $643,840.00
  • Amount Raised

    $643,840.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

14511 Houston-Whittier

We are proud to offer you a new multi-family residence in Detroit!

Built in 1962, this property fits nicely into our strategy of concentric circle acquisition for economies of scale, as we have already tokenized two other multi-family properties on this street: 9171 Whittier Ave and 9151 Whittier Ave.

By purchasing tokens of this property, investors can diversify their risk due to potential rental vacancies, as 14 units make for a consistent expected rental income — in this case, a solid 10.06%.

The seller has owned the property since 1998, and maintained it very well through the years. For this reason, we have budgeted only $8,000 for renovation ($4,000 boiler replacement, minor exterior improvements, and unit refreshment).

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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