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14918 Joy Rd, Detroit, MI 48228

Total Investment: $692,160.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

Questions/Need Help? Email Us.

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.

Property Highlights

  • Expected Yield

    11.24%
  • Rent Start Date

    2021-05-11
  • Rent per Token

    $5.56 / year
  • Token Price

    $49.44
  • Total Tokens

    14,000
  • Property Type

    Multi Family
  • Construction Year

    1967
  • Neighborhood

    Fiskhorn
  • Square Feet

    9,479
  • Lot Size

    10,018
  • Bedroom/Bath

    15x1 / 15x1
  • Total Units

    15 Units
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    Partial
  • Section 8 Pays...

    14%

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

We are targeting the above equity multiple 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.

Financials

  • Gross Rent / year

    $107,496.00
  • Gross Rent / month

    $8,958.00
  • Monthly Costs

    - $2,475.80
    • Property Management (8.00%)
      - $716.64
    • RealT Platform (2.00%)
      - $179.16
    • Maintenance Expenses
      - $200.00
    • Property Taxes
      - $800.00
    • Insurance
      - $500.00
    • Utilities
      - $80.00
  • Net Rent / month

    $6,482.20
  • Net Rent / year

    $77,786.40
  • Total Investment

    $692,160.00
    • Underlying Asset Price
      $575,000.00
    • RealT Listing Fee (10%)
      $69,212.89
    • Initial Maintenance Reserve
      $17,916.00
    • Initial Renovation Reserve
      $30,000.00
  • Expected Yield

    11.24%

Maintenance Reserve

About the Property

14918 Joy is a lovely brick 15-unit multifamily with a lot of potential! We will be putting in $30,000 to really make this property shine, and this is your chance to get in on the “ground floor”. We see a lot of room to increase yields on this property in the future, as its current rents are low for the building and the area — and that’s saying something, because the yield is already 11.24%!

Joy is situated in the Fiskhorn neighborhood of Detroit’s West Side, a sprawling area of the city known for its affordable rentals, easy access to downtown, and abundant community parks. Rouge Park, Bell Creek County Park, and Eliza Howell Park all sit within this expansive area. Although the west side of the city features a sense of small-town charm, residents sit less than 15 miles outside of Downtown Detroit, so commuting to the city for work or play is a breeze. West Side Detroit is mainly residential, but there are supermarkets, casual restaurants, and small businesses spread throughout the area.

Map

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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