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16851-16881 Greenfield Rd, Detroit, MI 48235

View Smart Contracts: Eth xDai

Total Investment: $ 1,881,450.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.04%

    Not including capital appreciation

  • Rent per Token

    $ 5.11 / year
  • Rent Start Date

    March 15, 2022
  • Token Price

    $ 50.85
  • Total Tokens

    37,000

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
  • Neighborhood

    Crary - St-Marys
  • Construction Year

    1954
  • Stories

    2 Stories
  • Total Units

    36 Units
  • Bedroom/Bath

    36x1.5 Bed / 36
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    Partial
  • Section 8 Pays...

    22%

Property Financials

  • Gross Rent / year

    $ 290,304.00
  • Gross Rent / month

    $ 24,192.00
  • Monthly Costs

    - $ 8,449.20
    • Property Management (8.00%)
      - $ 1,935.36
    • RealT Platform (2.00%)
      - $ 483.84
    • Maintenance Expenses
      - $ 1,450.00
    • Property Taxes
      - $ 2,850.00
    • Insurance
      - $ 690.00
    • Utilities
      - $ 1,040.00
  • Net Rent / month

    $ 15,742.80
  • Net Rent / year

    $ 188,913.60
  • Total Investment

    $ 1,881,450.00
    • Underlying Asset Price
      $ 1,610,000.00
    • Operating Expense Reimbursement (10%)
      $ 188,153.00
    • Initial Maintenance Reserve
      $ 48,384.00
    • Initial Renovation Reserve
      $ 35,000.00
    • Unrounded Listing Price
      $ 1,881,537.00
    • Rounding Difference
      - $ 87.00
  • Expected Income

    10.04%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    27,007
  • Foundation

    Masonry Block
  • Exterior Walls

    Brick
  • Roof Type

    Asphalt
  • Parking

    36 spaces
  • Interior Size (sqft)

    21,463
  • Heating

    Forced Air / Natural gas
  • Cooling

    None

Test Renovation content!

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.

About the Property

16851-16881 Greenfield

Greenfield is an extremely well-maintained set of buildings with 36 units and long-term tenants. 10 of those units are rent-subsidized via the Federal HUD Section 8 program, which makes for very stable rent payments, and we intend to bring the rest of the units up to Section 8 standards with our initial renovation budget of $ 35,000. That should pave the way for gradual increases in rental income yield along with true stability – the Holy Grail of passive income!

This token series is actually four multi-family buildings rolled into one 36-unit offering: 16851 (8 units), 16861 (8 units), and 16881, which is itself two buildings of 10 units each. Economies of scale improve with more units; in addition, these buildings are quite near to our other recent offering, 16767 Greenfield, which makes management less expensive and more streamlined. Overall, this group of properties has all the makings of a spectacular long-term investment, and we’re very proud to offer it to you!

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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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