5942 Audubon Rd, Detroit, MI 48224 | RealT

5942 Audubon Rd, Detroit, MI 48224

Asset Price $58,300

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Property Highlights

  • Annual Return

    10.38%
  • Gross Rent

    $9,000 / year
  • Rent per Token

    $8.07 / year
  • Total Tokens

    750
  • Property Type

    Single Family
  • Square Feet

    1,566
  • Bedroom/Bath

    3 Bed. / 1.5 Bath
  • Has Tenants?

    Yes
  • Equity Multiple

    3x-5x

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above equity multiple 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.

Financials

  • Gross Rent / month

    $750.00
    • Property Management (8.00%)
      - $60.00
    • RealT Platform (2.00%)
      - $15.00
    • Property Taxes
      - $116.67
    • Insurance
      - $54.17
    • Utilities
      Tenant-paid
  • Net Rent / month

    $504.16
  • Net Rent / year

    $6,049.92
  • Asset Price

    $58,300.00
  • Cap Rate

    10.38%

Maintenance Reserve

About the Property

This classic 1930s home in the Morningside neighborhood of Detroit is the epitome of a promising single-family property investment. The 2,571 square-foot home, completely rehabilitated and rented in 2019, sits on a 6,531 square-foot lot and boasts central heating, comfortable updates, and the unique character that can only come from Detroit Industrial Revolution-era builds. Families will appreciate the proximity to top-rated schools in the Detroit area like Cass Technical and Renaissance High.

With easy access to Highway 94, and only a stroll away from East English Village and Grosse Pointe, the Morningside neighborhood is sure to benefit from the surrounding area’s significant growth. Get access to this neighborhood before the $69,900 median price drastically increases. The adjacent North End neighborhood’s median listing is quickly approaching $130,000, and the Lower East’s median is well over $105,000. Seize this unique opportunity to own a piece of quintessential Detroit property.

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.