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$ 170,000
Est. payment | /mo
2 Baths
3,920 Sqft Lot
$ 170,000
Est. payment | /mo
2 Baths
3,920 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261046553
HOA Y/N true
Year Built 1923
Annual Tax Amount $3,124
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 35X106
Source Realcomp
Property Description
Here's a rare investor opportunity - a fully updated duplex with both units occupied by Section 8 tenants backed by the government. This Detroit duplex features two 2-bedroom, 1-bath units, both currently rented through Section 8 at $1,150/month and $950/month, for a total monthly rent roll of $2,100/month and $25,200/year in gross scheduled income. The property has been recently refreshed, helping reduce near-term maintenance concerns and support tenant retention. Updates include brand-new vinyl windows, fresh paint throughout, new plush carpeting, updated kitchen cabinets and countertops, and new furnaces for improved efficiency and reliability. From a buy-and-hold perspective, this asset checks several important boxes: two occupied units, Section 8 rental income, separate income streams, updated interiors, and major mechanical improvements already completed. The duplex setup also helps reduce reliance on a single tenant, while the 2-bedroom unit mix remains practical and rentable in Detroit's investor market. Priced at $170,000, the property offers an attractive 14.8% gross rent-to-price return and a 1.24% monthly rent-to-price ratio. For DSCR buyers, the current rent roll creates strong debt coverage potential. Based on a typical 75% LTV scenario, the estimated loan amount would be approximately $127,500, giving investors a solid income base to work with. Final DSCR will depend on lender rate, taxes, insurance, and underwriting, but the rental income is compelling for investors looking for cash-flowing Section 8 product. For investors seeking immediate rental income, DSCR potential, and strong gross rent performance at a reasonable price point, this duplex deserves a serious look. Please do not disturb tenants. Showings available with accepted full-list offer only.
Location
State MI
County Wayne
Zoning Residential
Direction Buena Vista & Roselawn
Interior
Heating Forced Air
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W16I030132S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Keller Williams First
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