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2950-2952 Monterey St, Detroit, MI 48206

View Smart Contracts: Eth xDai
A two-story brick four-unit building with porches on both stories and white trim.
Great Location! Urban farm next door
A two-story brick four-unit building with porches on both stories and white trim, as well as a long driveway on the left and a concrete path leading to the front steps.
A corner view of a two-story brick building, with a cyclone fence in the foreground. The building shows white-trimmed windows along the side.
A long patch of cultivated food plants in the foreground, surrounded by a grassy field. In the background is the same two-story brick building.
A grassy field with a small, bare tree in the foreground and large hooped greenhouse enclosures in the background.

Total Investment: $ 175,000.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    11.69%

    Not including capital appreciation

  • Rent per Token

    $ 5.85 / year

  • Rent Start Date

    September 6, 2021

  • Token Price

    $ 50.00

  • Total Tokens

    3,500

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

    2950-2952 Monterey St, Detroit, MI 48206

  • Neighborhood

    Dexter-Linwood

  • Construction Year

    1922

  • Total Units

    4 Units

  • Bedroom/Bath

    4x2 Bed, 4x1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

Property Financials

  • Gross Rent / year

    $ 27,000.00

  • Gross Rent / month

    $ 2,250.00

  • Monthly Costs

    - $ 545.00
    • Property Management (8.00%)
      - $ 180.00
    • RealT Platform (2.00%)
      - $ 45.00
    • Maintenance Expenses
      - $ 50.00
    • Property Taxes
      - $ 200.00
    • Insurance
      - $ 70.00

  • Net Rent / month

    $ 1,705.00

  • Net Rent / year

    $ 20,460.00

  • Total Investment

    $ 175,000.00
    • Underlying Asset Price
      $ 153,000.00
    • Operating Expense Reimbursement (10%)
      $ 17,500.00
    • Initial Maintenance Reserve
      $ 4,500.00
    • Unrounded Listing Price
      $ 175,000.00

  • Expected Income

    11.69%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,534

  • Parking

    Parking on the Side and Front

  • Interior Size (sqft)

    4,838

Test Renovation content!

Offering Details

  • Offering Date

    September 1, 2021

  • Issuer

    RealToken LLC - Series #150 - 2950-2952 Monterey

  • Min. Investment Amount

    $50.00

  • Max. Investment Amount

    $175,000.00

  • Amount Raised

    $175,000.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

This 8-bedroom, 4-bath gem of a multi-family home is located in a quiet but trending neighborhood. Monterey welcomes in lots of sunlight with its oversized windows, and tenants can access the second floor deck to enjoy the peace and quiet. And next door, neighbors can enjoy fruit and herbs from a bustling urban farm.

Many residents in this neighborhood are improving their homes and properties. Detroit has seen the highest rate in the nation of millennials moving in over the last decade, according to the Detroit Chamber. Millennials and Generation Z now make up 38% of the population. This trend promises to continue to improve neighborhoods, property values, and rents in the years to come.

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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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