21
See all 21 photos
$125,000
Est. payment /mo
2 Beds
1 Bath
814 SqFt
New
9117 BRACE Street Detroit, MI 48228
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Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 814 sqft
Price per Sqft $153
MLS Listing ID 20251006286
Bedrooms 2
Full Baths 1
Year Built 1944
Annual Tax Amount $965
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 44.00 x 117.00
Property Sub-Type Single Family Residence
Source Realcomp
Property Description
This one is for investors! Section 8 Tenant occupied at $1200/m. This property is part of a 4-property investor portfolio and will only be sold as part of the full package. No cherry picking. Package price is $650,000 for all four homes. At a package price of $650,000, this deal offers a cap rate of 9.05%, GRM of 9.34 and a DSCR of 1.36. Addresses include: 19775 Burgess ($1,700/mo rent), 20201 Grandville ($1,600/mo rent), 9117 Brace ($1,200/mo rent, Section 8), and 16550 Freeland ($1,300/mo rent, Section 8). Total portfolio rent: $5,800/month or $69,600/year. All properties are fully leased, tenant-paid utilities, and in turnkey condition. Contact listing agent for rent roll, leases, and additional info. This deal is ideal for an investor seeking stability, cash flow, and low management overhead. It qualifies for conventional and DSCR financing. Whether you're scaling a local portfolio or investing from out of state, this package offers the kind of hands-off income most investors are looking for in the Detroit market. You will cash flow from day 1. This property has been fully remodeled with NEW everything prior to tenant move in! The renovation was tastefully done and is sure to impress. Walk through the front door to be greeted by a spacious living room with brand new floors and fresh paint. The updated kitchen - brand new white cabinets with black accents, new luxurious granite countertops, a new sink, new floors. The full bathroom which has been updated and matches the kitchen's color scheme. Basement has been freshly painted and comes with a brand new furnace and hot water heater. Plumbing and electrical have been updated as well. New windows throughout. Ranch sits on a corner lot with a fenced in backyard.
Location
State MI
County Wayne
Area Wayne County - 100
Direction NORTH OF JOY, CORNER OF CATHEDRAL
Interior
Heating Forced Air
Exterior
View Y/N No
Garage No
Building
Story 1
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W22I081123S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Keller Williams First