SFR Acquisition #35 – 5/29 Pack – 19134 Greenlawn Street, Another Bagley Acquisition With $100,000 Equity

SFR acquisitions

 

 

Investment Summary

This property is part of the 29 Pack Portfolio purchased in the summer of 2025. The standard purchase price assigned is $54,000, including related costs.

Our property managers were able to raise the rents as we projected right after the closing. The property shows a 17% cash-on-cash return based on first year’s property taxes.

The home is in the highly-coveted Bagley area, 4 minutes’ drive from the other Greenlawn property from this same Pack, and our evaluations show mid-$100,000 to be a realistic comp. Zestimate suggests $132,000 in November 2025. If we take this lower number, it still means we procured $80,000 worth of equity by picking this property as part of the Pack.

The area is quite desirable to the point where property taxes are very high, and the team will watch to see if the property taxes become prohibitive for a long-term hold.

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SFR Acquisition #34 – ４/29 Pack – 17330 Greenlawn, With An Equity of $100,000

SFR acquisitions

Investment Summary

This property is part of the 29 Pack Portfolio purchased in the summer of 2025. The standard purchase price assigned is $54,000, including related costs.

This property’s cash-on-cash return against the original underwritten capital deployment is a whopping 17.74% the first year. The property is in reasonable shape, and the property management team was able to secure near-top market rent for this large property without much repairs.

The property is in the highly-coveted Bagley area, and the our evaluation of the property to be around $190,000, because it will likely need some repairs to match some of the better comps.  Zillow’s algorithm is suggesting about $155,000 in November 2025, which still means our locked value is likely close to $100,000 with this property.

The area is quite desirable to the point where property taxes are very high, and the team has the option to hold to this property while it cash flows, or to sell it for interim capital gain.

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SFR Acquisition #34 – 3/29 Pack – 8051 Westwood Street

SFR acquisitions

Investment Summary

This property is part of the 29 Pack Portfolio purchased in the summer of 2025. The standard purchase price assigned is $54,000, including related costs.

This property is showing a great cash-on-cash return of 14.8% the first year. The tenant has been here for 6 years and screens extremely well.

The property has also gone through several key updates as of recent; newer roof, furnace and hot water tank were exchanged 3 and 2 years ago respectively.  The capital expenditure on this property is mostly precautionary.

Parts of Warrendale have become increasingly popular due to its proximity to Dearborn.  However, it is a big area, and this property in particular may be in a slower area in terms of price appreciation. In the meantime, we are confident in the rental desirability where we can create extraordinary cash flows.  Sometimes, the best move is to acquire a stress-free property, sit and wait.

 

 

Property Overview

  • Purchase Price: $54,000 (standardized from the portfolio purchase)
  • Original Capital Expenditure Planned: $5,000
  • Original Rent: $950/month
  • Projected Rent: $1,015
  • Final Rent: $1,015
  • Square Footage: 861 sq ft
  • Property Taxes (2024): $1,327.17
  • Zoning: R1 (Residential)

 

 

Neighborhood Analysis

 

  • Location: Warrendale neighborhood
  • A good location close to Dearborn and employers such as Ford
  • Close to good amenities such as Walmart, Home Depot and many other places of convenience at the Fairlane North Shopping Center (6 mins).
  • This is not a brick home, but in a quiet neighborhood
  • Market Insights: Zillow data on 48228 zip code shows median sales price to be at around $70,000, with 4.5%YOY sales price growth.

Comparable Sales

  1. 8681 ARTESIAN Street Detroit, MI 48228-3005, sold on May 29, 2025, for $72,000.
  2. 8474 GRANDVILLE Avenue Detroit, MI 48228-3010, sold on Apr 15, 2025, for $80,000.
  3. 8107 ARTESIAN Street Detroit, MI 48228-3349, sold on Mar 19, 2025, for $110,000.

This property is rather small, but as the conditions stand, putting in a minimal turn budget will likely allow it to hit the $80,000 mark relatively easily. For now, we are happy being conservative in assigning it no immediate value growth since purchase.

 

 

SFR Acquisition #33 – 2/29 Pack – 15871 Ward

SFR acquisitions

 

Investment Summary

This property is part of the 29 Pack Portfolio purchased in the summer of 2025. The standard purchase price assigned is $54,000, including related costs.

The property manager was able to raise the rents to where we expected before closing.  The property has high taxes bringing the cash-on-cash is 8.5% in our starting year. This likely does not represent the full rent potential of this property. For now, our CapEx planned for this property has mostly not been used, so we will leave it to the property managers to see if we can raise the rents incrementally as is often the case.

The tenant has refused to allow the inspectors to take internal photos, but the acquisition team’s reports are that the $5,000 capital expenditure is mostly earmarked for external issues such as a crack in the concrete on the front porch, and an exchange of the glass block window for the basement.  The team has factored in the fact that the tenant has lived here since 2020. The internals may not need immediate attention but are generally not updated to compare with top comparable sales. Internal photos from that time may be available on the property page on Zillow.

 

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