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19751 Marx St, Highland Park, MI 48203

View Smart Contracts: Eth xDai

Total Investment: $ 720,082.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.54%

    Not including capital appreciation

  • Rent per Token

    $ 5.35 / year
  • Rent Start Date

    May 1, 2022
  • Token Price

    $ 50.71
  • Total Tokens

    14,200

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
  • Neighborhood

    Highland Park
  • Construction Year

    1956
  • Stories

    2 Stories
  • Total Units

    16 Units
  • Bedroom/Bath

    16x1 Bed / 16x1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    No

Property Financials

  • Gross Rent / year

    $ 114,600.00
  • Gross Rent / month

    $ 9,550.00
  • Monthly Costs

    - $ 3,225.00
    • Property Management (8.00%)
      - $ 764.00
    • RealT Platform (2.00%)
      - $ 191.00
    • Maintenance Expenses
      - $ 1,000.00
    • Property Taxes
      - $ 250.00
    • Insurance
      - $ 270.00
    • Utilities
      - $ 750.00
  • Net Rent / month

    $ 6,325.00
  • Net Rent / year

    $ 75,900.00
  • Total Investment

    $ 720,082.00
    • Underlying Asset Price
      $ 604,000.00
    • Operating Expense Reimbursement (10%)
      $ 72,011.11
    • Initial Maintenance Reserve
      $ 19,100.00
    • Initial Renovation Reserve
      $ 25,000.00
    • Unrounded Listing Price
      $ 720,111.11
    • Rounding Difference
      - $ 29.11
  • Expected Income

    10.54%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    12,632
  • Foundation

    Poured Concrete
  • Exterior Walls

    Brick
  • Roof Type

    Asphalt / Hip Style
  • Parking

    18 spaces
  • Interior Size (sqft)

    7,512
  • Heating

    Forced Air / Natural Gas
  • Cooling

    None

Test Renovation content!

About the Property

19751 Marx

This lovely brick multi-family is the twin of the property we sold 2 weeks ago (19750 Marx). Both are classic RealT bread-and-butter properties, acquired at a good price and structured to offer stable rents month after month. Built in 1956, this multi-family has 16 fully-rented units and 18 parking spaces. As you can see on the map, this property is located close to Butler Playfield and Farwell Field parks, which increases security and quality of life for our tenants.

However, we expect the rental income for this property to be significantly higher than for 19750 Marx because we have already increased the rent for some tenants! In addition, the rents for this property are currently below market for some units. We expect to increase those rents while retaining the same tenants, just as we are doing for its twin.

The seller owned a construction company and invested more than $100,000 into all the large structures of the building, as well as the mechanical room, which means that the building is in excellent fundamental condition. To this, we will be adding $25,000 in renovations of our own. Due to our concentration of properties in Detroit, we have been able to build a dependable team of competent, experienced handymen, and this strategy has allowed us to save $3,610 on the cost of the upcoming renovations, which is more than 10% of the budget for a property of this size.

The reserved $25,000 is to be used as follows:

  • $20,000: Exterior & Common Area
    • Exterior: Stabilize chipping and peeling paint on all guttering, downspouts, fascia, soffits and trim
    • Remove deteriorated glaze caulking on window frames and install new caulk
    • Backfill depressions in alley and lot and tamper / prep for asphalt and seal coat / stripes and new signage
  • $2,250: Landscaping in Courtyard and Backfill Depressions in Driveway/Alley and Parking Lot
  • $2,750: Refresh units 7, 13, 15, 16

We feel confident that these renovations will have a perceived value well over $25,000 for our current and future tenants.

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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