16044 Fairmount Drive new Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48205
Key Details
Property Type Single Family Home
Sub Type Bungalow
Listing Status Active
Purchase Type For Sale
Square Footage 904 sqft
Price per Sqft $49
MLS Listing ID 81025041771
Style Bungalow
Bedrooms 3
Full Baths 1
HOA Y/N no
Year Built 1942
Annual Tax Amount $1,013
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 37.00X123.00
Property Sub-Type Bungalow
Source Greater Metropolitan Association of REALTORS®
Property Description
Prime Investment Opportunity in DetroitThis isn't just another property; it's a turnkey, cash-flowing asset ready to elevate your portfolio. Located on a peaceful residential street, this tenant-occupied home offers immediate, reliable income and is a smart addition for any investor looking for both stability and growth.Key Investment Highlights:Instant Cash Flow: Start generating income from day one. This property comes with a stable, long-term tenant already in place.Proven Reliability: The current tenant has a remarkable 15-year history of on-time payments, providing a consistent and predictable income stream of $770/month.Strategic Value-Add Potential: Beyond the immediate cash flow, there's significant upside.With some targeted improvements, you can increase the property's value and boost your returns over time.
Location, Location, Location: Situated in a high-demand rental area of Detroit, this home is poised for continued profitability and appreciation. The location offers easy access to public transit, making it convenient for tenants to get around the city.
This property is a solid pick for both seasoned and new investors looking to build wealth in Detroit's thriving real estate market.
Location
State MI
County Wayne
Area Det 8 To Gratiot/Houston To 7
Direction off 8 mile
Interior
Interior Features Laundry Facility
Heating Forced Air
Fireplace no
Heat Source Natural Gas
Laundry 1
Exterior
Roof Type Asphalt
Garage no
Private Pool No
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Bungalow
Level or Stories 2 Story
Structure Type Vinyl
Schools
School District Detroit
Others
Tax ID 21025145
Ownership Private Owned
Acceptable Financing Cash,Contract,Conventional
Listing Terms Cash,Contract,Conventional
Financing Cash,Contract,Conventional