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16051 E State Fair St, Detroit, MI 48205

View Smart Contracts: Eth Gnosis

Total Investment: $ 68,517.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.86%

    Not including capital appreciation

  • Income per Token

    $ 4.90 / year
  • Income Start Date

    January 1, 2024
  • Token Price

    $ 49.65
  • Total Tokens

    1,380

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

    16051 E State Fair St, Detroit, MI 48205
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    Burbank
  • Construction Year

    1943
  • Bedroom/Bath

    2 Beds / 1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 11,160.00
  • Gross Rent / month

    $ 930.00
  • Monthly Costs

    - $ 367.00
    • Property Management (8.00%)
      - $ 74.40
    • RealT Platform (2.00%)
      - $ 18.60
    • Maintenance Expenses
      - $ 110.00
    • Property Taxes
      - $ 109.00
    • Insurance
      - $ 55.00
    • Utilities
      Tenant-paid
  • Net Rent / month

    $ 563.00
  • Net Rent / year

    $ 6,756.00
  • Total Investment

    $ 68,517.00
    • Underlying Asset Price
      $ 52,000.00
    • Sourcing Fee (10%)
      $ 6,851.11
    • Initial Maintenance Reserve
      $ 1,860.00
    • Initial Renovation Reserve
      $ 5,000.00
    • Administrative Fees
      $ 2,500.00
    • Miscellaneous Costs
      $ 300.00
    • Unrounded Listing Price
      $ 68,511.11
    • Rounding Difference
      $ 5.89
  • Expected Income

    9.86%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    4,848
  • Foundation

    Masonry
  • Exterior Walls

    Brick
  • Roof Type

    Asphalt
  • Interior Size (sqft)

    813
  • Heating

    Forced Air w/ Ducts
  • Building Class

    C
  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-16051-E-STATE-FAIR-ST-DETROIT-MI
  • Total Tokens

    1380

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    November 8, 2023
  • Issuer

    RealToken International 16051 E State Fair St Inc
  • Min. Investment Amount

    $49.65
  • Max. Investment Amount

    $68,517.00
  • Amount Raised

    $68,517.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

16051 E State Fair

Welcome to 16051 E. State Fair, a charming Single Family Residence in Detroit’s Burbank neighborhood. This residence is strategically located close to Ms Johnnie Bennett’s child care center, Bringard Boulder Park and the City of Refuge Church, providing tenants with easy access to a variety of recreational surroundings.

This 813-square-feet home has two bedrooms and one bathroom, making for a well-designed and pleasant living space. Forced air heating (with ducts) is installed, ensuring efficient and consistent warmth throughout the home. The centralized location also cuts down on contractor travel time and costs, and its proximity to 15225 Bringard, to name one of the RealT properties in the area, further enhances the economy-of-scale benefits.

With an expected rental income of 9.86%, an acquisition price of $52,000 and a renovation budget of $5,000, this property offers a cozy living environment for tenants and a good investment for those looking to maximize their returns in the long run.

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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