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18524 Patton St, Detroit, MI 48219

View Smart Contracts: Eth xDai

Total Investment: $ 92,000.50

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.50%

    Not including capital appreciation

  • Rent per Token

    $ 5.22 / year

  • Rent Start Date

    September 15, 2023

  • Token Price

    $ 49.73

  • Total Tokens

    1,850

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

    18524 Patton St, Detroit, MI 48219

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Holcomb Community

  • Construction Year

    1948

  • Bedroom/Bath

    3 Beds / 1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    Section 8

  • Rent Subsidy Pays...

    100%

Property Financials

  • Gross Rent / year

    $ 13,800.00

  • Gross Rent / month

    $ 1,150.00

  • Monthly Costs

    - $ 345.00
    • Property Management (8.00%)
      - $ 92.00
    • RealT Platform (2.00%)
      - $ 23.00
    • Maintenance Expenses
      - $ 110.00
    • Property Taxes
      - $ 70.00
    • Insurance
      - $ 50.00
    • Utilities
      Tenant-paid

  • Net Rent / month

    $ 805.00

  • Net Rent / year

    $ 9,660.00

  • Total Investment

    $ 92,000.50
    • Underlying Asset Price
      $ 61,000.00
    • Operating Expense Reimbursement (10%)
      $ 9,200.00
    • Initial Maintenance Reserve
      $ 2,300.00
    • Initial Renovation Reserve
      $ 18,000.00
    • Administrative Fees
      $ 1,500.00
    • Unrounded Listing Price
      $ 92,000.00
    • Rounding Difference
      $ 0.50

  • Expected Income

    10.50%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    4,356

  • Foundation

    Masonry

  • Exterior Walls

    Siding

  • Roof Type

    Asphalt

  • Interior Size (sqft)

    784

  • Heating

    Forced Air w/o Ducts, Gas

  • Building Class

    C

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-18524-PATTON-ST-DETROIT-MI

  • Total Tokens

    1850

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    August 22, 2023

  • Issuer

    RealToken International 18524 Patton St Inc

  • Min. Investment Amount

    $49.73

  • Max. Investment Amount

    $92,000.50

  • Amount Raised

    $92,000.50

  • Offering Percent (of Total Tokens)

    100.00%

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.

Learn More

About the Property

18524 Patton

Nestled in a classic district of Detroit, 18524 Patton stands as a testament to the city’s enduring architecture. This single-family home, constructed in 1948, features 3 bedrooms and 1 bathroom, encompassing 784 square feet of living space on a 4,356 square foot lot. Its masonry foundation, siding exterior, and asphalt roof covering reflect a design typical of the area.

The neighborhood is classic Detroit, with tree-lined streets and a community vibe. Nearby amenities and local establishments contribute to the area’s appeal. What truly stands out is the property’s potential: We have dedicated $18,000 for renovations that will bring structural and quality-of-life improvements to this home. With these strategic investments, we expect an exceptional rental yield of 10.50% per year.

Join the ranks of savvy investors who see the value in Detroit’s timeless properties. 18524 Patton is not just a home.

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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