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5517-5519 Elmhurst St, Detroit, MI 48204

View Smart Contracts: Eth xDai

Total Investment: $98,078.00

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

    11.5%

    Not including capital appreciation!

  • Rent Start Date

    2021-11-08
  • Rent per Token

    $5.94 / year
  • Token Price

    $51.62
  • Total Tokens

    1,900

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

    Duplex
  • Construction Year

    1928
  • Neighborhood

    Nardin Park
  • Bedroom/Bath

    3x2 Bed / 2x2 Bath
  • Total Units

    2 Units
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    No

Property Financials

  • Gross Rent / year

    $16,800.00
  • Gross Rent / month

    $1,400.00
  • Monthly Costs

    - $460.00
    • Property Management (8.00%)
      - $112.00
    • RealT Platform (2.00%)
      - $28.00
    • Maintenance Expenses
      - $90.00
    • Property Taxes
      - $180.00
    • Insurance
      - $50.00
    • Utilities
      Tenant-paid
  • Net Rent / month

    $940.00
  • Net Rent / year

    $11,280.00
  • Total Investment

    $98,078.00
    • Underlying Asset Price
      $74,000.00
    • RealT Listing Fee (10%)
      $9,808.33
    • Initial Maintenance Reserve
      $2,800.00
    • Initial Renovation Reserve
      $6,000.00
    • Miscellaneous Costs
      $5,475.00
  • Expected Income

    11.50%

    Not including capital appreciation!

Property Details

  • Lot Size

    4356 sqft
  • Construction Type

    Brick
  • Roof Type

    Gable
  • Parking

    1 Detached Garage
  • Interior Size

    2500 sqft
  • Heating

    Gas/Forced Hot Air
  • Cooling

    None

Test Renovation content!

About the Property

5517-5519 Elmhurst

Located in the trending Nardin Park area, 5517-5519 Elmhurst boasts an open floor plan, a large archway, ample bedroom space, and hardwood floors throughout. The hallways are lined with built-in shelving for convenient storage, and each unit has a brick fireplace to enjoy during the winter months. The exterior is complimented by a wide porch on the first floor and a bird’s-eye view from the second floor deck, which extend the living space into the outdoors. Steps away is a grassy picnic area complete with a quaint gazebo and park benches for the community to gather and enjoy more outdoor space.

This duplex is located on a quiet residential street, but it sits steps away from Livernois Street, which is home to local markets and restaurants. It is also positioned directly across from the Detroit Police Department 10th Precinct, which promotes a safe, crime-free neighborhood. In addition to its safety, Nardin Park is part of the City of Detroit’s revitalization plan, which includes a framework to protect the character of the neighborhood’s future development. It prioritizes building on inclusionary growth, economic opportunity, and an atmosphere of trust within the community. To date this plan has renovated over 300 boarded-up buildings, implemented a demolition strategy for dilapidated areas, and developed a community forum to involve residents in determining what areas to target next. More information can be found on the City of Detroit’s website.

With its solid brick structure, open concept, long-term tenants, and the potential economic growth of the surrounding area, Elmhurst is one of RealT’s most exciting properties to date!

Map

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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