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1991 Ewald Cir, Detroit, MI 48238

View Smart Contracts: Eth xDai

Total Investment: $ 353,290.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.11%

    Not including capital appreciation

  • Rent per Token

    $ 5.10 / year

  • Rent Start Date

    December 1, 2023

  • Token Price

    $ 50.47

  • Total Tokens

    7,000

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

  • Full Address

    1991 Ewald Cir, Detroit, MI 48238

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Oakman Blvd Community

  • Construction Year

    1948

  • Total Units

    6 Units

  • Bedroom/Bath

    4x2, 2x1 Beds / 6x1 Baths

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 67,140.00

  • Gross Rent / month

    $ 5,595.00

  • Monthly Costs

    - $ 2,619.50
    • Property Management (8.00%)
      - $ 447.60
    • RealT Platform (2.00%)
      - $ 111.90
    • Maintenance Expenses
      - $ 700.00
    • Property Taxes
      - $ 610.00
    • Insurance
      - $ 150.00
    • Utilities
      - $ 600.00

  • Net Rent / month

    $ 2,975.50

  • Net Rent / year

    $ 35,706.00

  • Total Investment

    $ 353,290.00
    • Underlying Asset Price
      $ 294,000.00
    • Operating Expense Reimbursement (10%)
      $ 35,332.22
    • Initial Maintenance Reserve
      $ 11,190.00
    • Initial Renovation Reserve
      $ 10,000.00
    • Administrative Fees
      $ 2,500.00
    • Miscellaneous Costs
      $ 300.00
    • Unrounded Listing Price
      $ 353,322.22
    • Rounding Difference
      - $ 32.22

  • Expected Income

    10.11%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,098

  • Foundation

    Masonry

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Interior Size (sqft)

    5,886

  • Heating

    Forced-Air Furnace

  • Building Class

    C

  • Renovated

    Partially, Well maintained

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-1991-EWALD-CIR-DETROIT-MI

  • Total Tokens

    7000

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    October 25, 2023

  • Issuer

    RealToken International 1991 Ewald Cir Inc

  • Min. Investment Amount

    $50.47

  • Max. Investment Amount

    $353,290.00

  • Amount Raised

    $353,290.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

1991 Ewald

1991 Ewald is conveniently located in the Oakman Blvd Community, where it benefits from its proximity to the Detroit Public Library, schools and daycares, the Detroit Fire Department, churches, grocery stores, and many restaurants. The property enjoys shared amenities, such as a single roof, boiler, and garden across multiple units, while its proximity to 4061 Grand St improves economies of scale, as the centralized location reduces contractor travel time and costs.

The expected rental income for this multi-family residence is 10.11%. It comprises six units, including four two-bedroom units and two one-bedroom units, each one of them acquired for only $49,000. Originally built in 1948, the building was recently renovated in 2022. There have been significant capital improvements like new cameras and security doors. We have dedicated a renovation budget of $10,000 for minor enhancements.

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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