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15040 Harper Ave, Detroit, MI 48224

View Smart Contracts: Eth xDai

Total Investment: $ 365,040.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Token Type

    Standard Equity
  • Expected Income

    9.59%

    Not including capital appreciation

  • Income Start Date

    May 15, 2023
  • Income per Token

    $ 4.86 / year
  • Token Price

    $ 50.70
  • Total Tokens

    7,200

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

    15040 Harper Ave, Detroit, MI 48224
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    Outer Drive
  • Construction Year

    1959
  • Stories

    1 Stories
  • Total Units

    9 Units
  • Bedroom/Bath

    12x1 Bed / 12x1 Bath / Shared kitchen ; 2x1 Bed / 2x1 Bath
  • Rental Type

    Long Term
  • Rented?

    Fully Rented
  • Rent Subsidy?

    No

Property Financials

  • Gross Income / year

    $ 72,360.00
  • Gross Income / month

    $ 6,030.00
  • Monthly Costs

    - $ 3,113.00
    • Property Management (8.00%)
      - $ 482.40
    • RealT Platform (2.00%)
      - $ 120.60
    • Maintenance Expenses
      - $ 550.00
    • Property Taxes
      - $ 1,000.00
    • Insurance
      - $ 160.00
    • Utilities
      - $ 800.00
  • Net Income / month

    $ 2,917.00
  • Net Income / year

    $ 35,004.00
  • Total Investment

    $ 365,040.00
    • Underlying Asset Price
      $ 290,000.00
    • Sourcing Fee (10%)
      $ 36,506.67
    • Initial Maintenance Reserve
      $ 12,060.00
    • Initial Renovation Reserve
      $ 25,000.00
    • Administrative Fees
      $ 1,500.00
    • Unrounded Listing Price
      $ 365,066.67
    • Rounding Difference
      - $ 26.67
  • Expected Income

    9.59%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,098
  • Foundation

    Masonry Block
  • Exterior Walls

    Brick
  • Roof Type

    Hip / Gable
  • Interior Size (sqft)

    4,010
  • Heating

    Complete HVAC
  • Cooling

    None
  • Building Class

    C
  • Renovated

    Entirely Renovated
  • Property Manager

    Mutual Property Management LLC

Test Renovation content!

Offering Details

  • Offering Date

    March 31, 2023
  • Issuer

    RealToken International 15040 Harper Ave Inc
  • Min. Investment Amount

    $50.70
  • Max. Investment Amount

    $365,040.00
  • Amount Raised

    $365,040.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

15040 Harper

This new property is slightly different from our previous offerings. As you might notice in the pictures, 15040 Harper has two distinct sides.

On one side sit 12 one-bedroom, one-bathroom studios. The kitchen and common areas are shared among the tenants of these units.

On the other side are two self-contained units with their own bathrooms and kitchens, which are typically rented to a nurse and caretaker.

Why does Harper have these two different sides? Because it is built to be rented to an elder group home management company – a growth area as the U.S. gets older! Harper will have only one tenant, and for that reason, it can considered to have only one “unit” for our purposes.

The property has already been completely renovated, but we believe it makes sense to go even further in this case. We have budgeted $25,000 to purchase new furniture for the 12 studios and their common areas. With these improvements, we expect to be able to distribute a rental income of 9.59% in the coming years.

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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