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2626-2638 Wreford St, Detroit, MI 48208

View Smart Contracts: Eth xDai
A brick 2-story building with three porch coverings and white-trimmed windows. A black sedan in in the front right of the image.

Total Investment: $ 362,530.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

Questions/Need Help? Email Us.

Property Highlights

  • Expected Income

    11.31%

    Not including capital appreciation

  • Rent per Token

    $ 5.86 / year

  • Rent Start Date

    November 15, 2021

  • Token Price

    $ 51.79

  • 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

    2626-2638 Wreford St, Detroit, MI 48208

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    NW Goldberg

  • Construction Year

    1923

  • Total Units

    6 Units

  • Bedroom/Bath

    6x2 Bed / 6x1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 55,800.00

  • Gross Rent / month

    $ 4,650.00

  • Monthly Costs

    - $ 1,232.00
    • Property Management (8.00%)
      - $ 372.00
    • RealT Platform (2.00%)
      - $ 93.00
    • Maintenance Expenses
      - $ 150.00
    • Property Taxes
      - $ 417.00
    • Insurance
      - $ 160.00
    • Utilities
      - $ 40.00

  • Net Rent / month

    $ 3,418.00

  • Net Rent / year

    $ 41,016.00

  • Total Investment

    $ 362,530.00
    • Underlying Asset Price
      $ 311,000.00
    • Operating Expense Reimbursement (10%)
      $ 36,255.56
    • Initial Maintenance Reserve
      $ 9,300.00
    • Initial Renovation Reserve
      $ 6,000.00
    • Unrounded Listing Price
      $ 362,555.56
    • Rounding Difference
      - $ 25.56

  • Expected Income

    11.31%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    9,583

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Parking

    Street Parking

  • Interior Size (sqft)

    7,306

  • Heating

    Gas/Forced Hot Air

  • Cooling

    None

Test Renovation content!

Offering Details

  • Offering Date

    November 10, 2021

  • Issuer

    RealToken LLC - Series #170 - 2626-2638 Wreford

  • Min. Investment Amount

    $51.79

  • Max. Investment Amount

    $362,530.00

  • Amount Raised

    $362,530.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

2626 Wreford Detroit, MI

This six-unit multi-family offers a total of 13 bedrooms and 6 full baths with a shared laundry facility. It has been recently remodeled with fresh paint and finished floors. Each unit enjoys its own back porch that opens up into a large, communal backyard. The neighborhood is surrounded by several churches and the Detroit Police Training Academy, which promote a sense of community and safety in the neighborhood. 2626 Wreford also has easy access to major routes, nearby schools, and many daily amenities such as shopping and dining.

Minutes away from 2626 Wreford, Ford Automotive is developing a new “mobility innovation district” called Michigan Central which will renovate and add to a 30-acre campus devoted to developing, testing, and launching new urban transportation solutions. Ford is slated to invest $740 million into this project, which will supply jobs for 5,000 workers. Plans include several community buildings, an open, walkable landscape, space to celebrate local culture, and an event space. Ford intends this project to serve as a platform to engage and stimulate entrepreneurship as a driver for innovation. Most construction is expected to be complete by 2022, and it has the potential to be a model-leader for employment opportunities and community engagement in the Detroit area.

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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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