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3747 Scovel Pl, Detroit, MI 48208

View Smart Contracts: Eth xDai

Total Investment: $ 692,622.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    12.79% Partially Rented

    Not including capital appreciation

  • Rent per Token

    $ 6.42 / year

  • Rent Start Date

    January 24, 2022

  • Token Price

    $ 50.19

  • Total Tokens

    13,800

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

    3747 Scovel Pl, Detroit, MI 48208

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Midwest

  • Construction Year

    1927

  • Total Units

    18 Units

  • Bedroom/Bath

    18x1 Bed / 18x1 Bath

  • Rental Type

    Long-term

  • Rented?

    15 / 18 Units

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 137,760.00

  • Gross Rent / month

    Partially Rented $ 11,480.00

  • Monthly Costs

    - $ 4,098.00
    • Property Management (8.00%)
      - $ 918.40
    • RealT Platform (2.00%)
      - $ 229.60
    • Maintenance Expenses
      - $ 1,200.00
    • Property Taxes
      - $ 850.00
    • Insurance
      - $ 600.00
    • Utilities
      - $ 300.00

  • Net Rent / month

    $ 7,382.00

  • Net Rent / year

    $ 88,584.00

  • Total Investment

    $ 692,622.00
    • Underlying Asset Price
      $ 500,000.00
    • Operating Expense Reimbursement (10%)
      $ 69,266.67
    • Initial Maintenance Reserve
      $ 23,400.00
    • Initial Renovation Reserve
      $ 100,000.00
    • Unrounded Listing Price
      $ 692,666.67
    • Rounding Difference
      - $ 44.67

  • Expected Income

    Partially Rented 12.79%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,100

  • Exterior Walls

    Brick

  • Parking

    Street

  • Interior Size (sqft)

    9,260

  • Heating

    Forced air

  • Cooling

    None

Blockchain

  • Identifier

    REALTOKEN-S-3747-SCOVEL-PL-DETROIT-MI

  • Total Tokens

    13800

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    January 10, 2022

  • Issuer

    RealToken LLC - Series #183 - 3747 Scovel

  • Min. Investment Amount

    $50.19

  • Max. Investment Amount

    $692,622.00

  • Amount Raised

    $692,622.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

3747 Scovel

UPDATE:  Renovations are proceeding apace!  Please see the photos above for snapshots of the progress on this (soon-to-be) lovely property!

Scovel represents an enormous opportunity for RealT and our investors. With 18 units in a rapidly-growing city, located next to a newly-renovated sister building, Scovel is positioned for excellent growth after some significant renovations. We expect those renovations to be complete and the rent stabilized in October 2022, at which point the expected income from rent should see a dramatic increase from its current value to over 13%!

Because Scovel is such a big project with such a big impact on its token-holders, we will be providing regular updates on the renovations including work, cost, images, and video. We’re very excited to start a project with such huge potential in such a transparent way, and we’re thrilled to be able to offer it to you!

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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