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19041 Lenore Ave, Detroit, MI 48219

View Smart Contracts: Eth xDai

Total Investment: $ 954,940.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    4.74% Partially Rented

    Not including capital appreciation

  • Rent per Token

    $ 2.38 / year
  • Rent Start Date

    June 15, 2022
  • Token Price

    $ 50.26
  • Total Tokens


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

    19041 Lenore Ave, Detroit, MI 48219
  • Country

  • Source

  • Neighborhood

    Five Points
  • Construction Year

  • Stories

    2 Stories
  • Total Units

    20 Units
  • Bedroom/Bath

    20x1 Bed / 20x1 Bath
  • Rental Type

  • Rented?

    11 / 20 Units
  • Rent Subsidy?


Property Financials

  • Gross Rent / year

    $ 85,560.00
  • Gross Rent / month

    Partially Rented $ 7,130.00
  • Monthly Costs

    - $ 3,361.00
    • Property Management (8.00%)
      - $ 570.40
    • RealT Platform (2.00%)
      - $ 142.60
    • Maintenance Expenses
      - $ 1,000.00
    • Property Taxes
      - $ 448.00
    • Insurance
      - $ 400.00
    • Utilities
      - $ 800.00
  • Net Rent / month

    $ 3,769.00
  • Net Rent / year

    $ 45,228.00
  • Total Investment

    $ 954,940.00
    • Underlying Asset Price
      $ 824,000.00
    • Operating Expense Reimbursement (10%)
      $ 95,488.89
    • Initial Maintenance Reserve
      $ 25,400.00
    • Initial Renovation Reserve
      $ 10,000.00
    • Unrounded Listing Price
      $ 954,888.89
    • Rounding Difference
      $ 51.11
  • Expected Income

    Partially Rented 4.74%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

  • Foundation

    Poured Concrete
  • Exterior Walls

  • Roof Type

  • Parking

    20 on the side
  • Interior Size (sqft)

  • Heating

    Forced Air / Natural Gas
  • Cooling


Test Renovation content!

Offering Details

  • Offering Date

    May 19, 2022
  • Issuer

    RealToken International 19041 Lenore Ave, Detroit, MI 48219 Inc
  • Min. Investment Amount

  • Max. Investment Amount

  • Amount Raised

  • Offering Percent (of Total Tokens)


About the Property

19041 Lenore

As expected, after 19000 Fenton and 18980 Fenton, we offer you the last property of this lot: 19041 Lenore. With the addition of this property, RealT has tokenized two sides of a full city block, giving us “critical mass” and opening up a lot of possibilities in the area! Every dollar invested in one of the properties will benefit the perceived value of the other properties, and all properties’ tenants will see their lives improved by upgrades to the surroundings (such as parking and greenery).

Lenore is a multi-family residence composed of 20 fully-rented units and 20 parking spaces. Built in 1963, this property is more than a residence, it is a community property, and we can even say now that it’s a community neighborhood. It certainly has an excellent purchase price, low renovations, good tenants, and an attractive expected income structured to offer stable rents month after month, but it also enjoys a community spirit: children play in the courtyard and neighbors have barbecues on Sunday.

By purchasing tokens of this property, investors can diversify their risk due to potential rental vacancies, as 20 units make for a consistent expected rental income – in this case, a solid 11.04%. Lenore has a strong tenant demand, with 3 churches next door (Harvest Christian Church, Redford Church, Westside Bible Church) and a park that starts at Oak Grove (less than a mile from the property) and goes down to Eliza Howell Park. The property is also positioned with easy access to shopping, dining, and commuter routes, which increases quality of life for our tenants. Lenore is also located near the Redford district, chosen by Ford to re-establish a factory.

The property needs a little bit of renovation, and we have budgeted $10,000 as follows:

  • $8,000: Parking Lot
  • $1,235: Refresh units B16, B18,117, 211
  • $765: Repair fascia metal trim at D Side Entry


Property Records

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Why Detroit?


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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