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(D) 3510 Ewald Cir, Detroit, MI 48204

View Smart Contracts: xDai

Total Investment: $ 936,683.00

Non-US Total: $ 843,014.70

US-Only Total: $ 93,668.30

Stock: 1255

Max purchase: 50

Questions/Need Help? Email Us.

Property Highlights

  • Expected Income

    10.51%

    Not including capital appreciation

  • Rent per Token

    $ 5.27 / year
  • Rent Start Date

    September 1, 2022
  • Token Price

    $ 50.09
  • Total Tokens

    18,700
  • Non-US Tokens

    16830
  • US-Only Tokens

    1870

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

    3510 Ewald Circle, Detroit, MI 48204
  • Neighborhood

    Oakman Blvd Community
  • Construction Year

    1949
  • Stories

    2 Stories
  • Total Units

    16 Units
  • Bedroom/Bath

    4x2 ; 12x1 Bed / 16x1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    No

Property Financials

  • Gross Rent / year

    $ 162,000.00
  • Gross Rent / month

    $ 13,500.00
  • Monthly Costs

    - $ 5,293.00
    • Property Management (8.00%)
      - $ 1,080.00
    • RealT Platform (2.00%)
      - $ 270.00
    • Maintenance Expenses
      - $ 1,000.00
    • Property Taxes
      - $ 755.00
    • Insurance
      - $ 380.00
    • Utilities
      - $ 1,808.00
  • Net Rent / month

    $ 8,207.00
  • Net Rent / year

    $ 98,484.00
  • Total Investment

    $ 936,683.00
    • Underlying Asset Price
      $ 802,500.00
    • Operating Expense Reimbursement (10%)
      $ 93,666.67
    • Initial Maintenance Reserve
      $ 27,000.00
    • Initial Renovation Reserve
      $ 5,000.00
    • Administrative Fees
      $ 1,000.00
    • Unrounded Listing Price
      $ 936,666.67
    • Rounding Difference
      $ 16.33
  • Non-US Portion

    $ 843,014.70
  • US-Only Portion

    $ 93,668.30
  • Expected Income

    10.51%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    19,602
  • Foundation

    Masonry Block
  • Exterior Walls

    Brick
  • Roof Type

    Gable Roof / Asphalt
  • Parking

    16 Spaces
  • Interior Size (sqft)

    10,600
  • Heating

    HVAC / Forced Air
  • Cooling

    Window Units
  • Building Class

    C
  • Renovated

    Perfectly maintained
  • Property Manager

    Investors Property Management Detroit LLC

Test Renovation content!

Offering Details

  • Offering Date

    August 5, 2022
  • Issuer

    RealToken 3510 Ewald Circle, Inc
  • Min. Investment Amount

    $50.09
  • Max. Investment Amount

    $93,668.30
  • Amount Raised

    $93,668.30
  • Offering Percent (of Total Tokens)

    10.00%

About the Property

3510 Ewald

In our previous community calls, we’ve always said that we would rather have an empty marketplace than a poorly-stocked one. Well, we’re back, and this one was worth the wait!

We are pleased to bring you 3510 Ewald, a pearl of a property maintained in pristine condition by the same owner since 1978, located in an up-and-coming part of town, and filled with 16 excellent tenants. For those who just joined us, this is one of our “bread-and-butter” properties: it has a great purchase price, low renovations, good tenants and an attractive structured cap (10.51%) to provide stable rents month after month.

3510 Ewald is a 16 unit multi-family built in 1949, with 16 parking spaces on the lot. Together with our acquisition of 12405 Santa Rosa, 13245 Monica and 5517-5519 Elmhurst, this property continues our strategy of creating economies of scale close to Highland Park. This neighborhood is known for its concentration of universities where our tenants can work as cleaners, guards, and other laborers. Ewalds is also close to a common thoroughfare, allowing our tenants to move around comfortably.

We have budgeted $ 5,000 to refresh the property with some paint touch-up, minor maintenance, and some cleaning. Nothing major is required due to this property’s superb condition!

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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