Diary of a Real Estate Fund Manager

Investment Summary

13418 Kilbourne is part of the 29 Pack Portfolio purchased in the summer of 2025. The property has a standardized acquisition price of $52,000 with related acquisition costs, with $5,000 allocated toward capital improvements.

At acquisition, the property rented for $625/month. The current tenant has lived in the property for 8 years. After-acquisition rent is now $1,525/month.

Property Overview

Purchase Price: $52,000 with related acquisition costs

Capital Expenditure Planned: $5,000

Original Rent: $625/month

Current Rent: $1,525/month

Square Footage: 938~ sq. ft.

Bedrooms / Bathrooms: 2 bed / 1 bath

Construction: Brick

Neighborhood Analysis

13418 Kilbourne is located in Detroit’s Eden Gardens area, across from East English Village and Grosse Pointe that include family-friendly nearby amenities such as the below.

• Along the I-95 corridor
• 5-minute drive to Tim Hortons on East Warren Avenue
• 6-minute drive to Grace Supermarket
• Directly across from Chandler Park

Comparable Sales

The realtors’ comparable sales list includes:

14274 Kilbourne Street, Detroit, MI 48213-1566, sold for $49,500.

Property values are unstable as of 2025 to 2026, and the team has decided to give this property a very low valuation also based on the fact that the current tenant has lived in the property for a while. While the market corrects itself, the fund is sitting on an extremely high cash-flowing asset with solid bones. It is worth noting that since this time, the comparable, 14274 Kilbourne, was most recently sold for $125,000 in January 2026.

The comparable sales utilized are provided for reference only. They may differ from the subject property in condition, interior features, renovations, size, occupancy, and other characteristics. When the subject property is occupied, its interior condition and features may not be directly comparable to those of vacant properties. When the property is a value-add, the repair quote is a forward projection that may or may not apply. Any value indicated based on these comparable sales is a guidance and should not be considered a definitive valuation across time.

Investment Overview

13313 Robson was acquired as part of the 29-property portfolio in August 2025. The purchase price was $52,000, with $10,000 allocated toward capital expenditures. After closing costs, the starting basis was $53,510.

The property was generating $650/month at acquisition, and before closing, the team negotiated the rent to $850/month with the existing tenant. The property is approximately 955 sq. ft. with 3 bedrooms and 1 bathroom and features brick construction.

Property & Location

The property is located in the Schoolcraft Southfield area on a residential block. It provides easy access to nearby grocery stores and shopping:

• 2-minute drive to Food Giant
• 4-minute drive to Imperial Fresh Market
• 10-minute drive to Meijer on Grand River Ave

The tenant is currently committed to renewing the contract.

Comparable Sales

Our realtors’ comparable sales list for this property includes:

13209 Terry Street, Detroit, MI 48227-2570, sold for $80,000.

The comparable sales utilized are provided for reference only. They may differ from the subject property in condition, interior features, renovations, size, occupancy, and other characteristics. When the subject property is occupied, its interior condition and features may not be directly comparable to those of vacant properties. When the property is a value-add, the repair quote is a forward projection that may or may not apply. Any value indicated based on these comparable sales is a guidance and should not be considered a definitive valuation across time.

Investment Summary

This property is part of the 29 Pack Portfolio acquired in 2025, with a standardized purchase price of $52,000 plus related acquisition costs.

10649 Meuse was originally rented at $450/month. The rents were raised to $850 after acquisition. The property is a 3-bedroom, 1-bathroom single-family home with approximately 954 square feet of living space.

Property & Overview

The property is a brick home located on a mostly brick residential block. While the property is generally well-kept, it requires moderate improvements, and a CapEx of $15,000 is factored in at acquisition.

The home has 3 bedrooms and 1 bathroom with approximately 954 square feet of living space.

Location & Accessibility

The property is located in the Morass Morang neighborhood next to the highly-popular East English Village and offers a range of amenities nearby.

• Surrounded by similar single-family housing
• Accessible to everyday amenities and local services, including Pointe Fitness & Training Center and Royal Fresh Market
• 6-minute drive to Henry Ford Hospital

Comparable Sales

The comparable sales for this property include:

• 11718 Wayburn Street, Detroit, MI 48224-1688, sold for $100,000
• 11243 Lakepointe Street, Detroit, MI 48224-1605, sold for $79,000

The property is currently occupied, and the current resident has kept the house in extremely well-kept condition.

The comparable sales utilized are provided for reference only. They may differ from the subject property in condition, interior features, renovations, size, occupancy, and other characteristics. When the subject property is occupied, its interior condition and features may not be directly comparable to those of vacant properties. When the property is a value-add, the repair quote is a forward projection that may or may not apply. Any value indicated based on these comparable sales is a guidance and should not be considered a definitive valuation across time.

Disclaimer

This article is for educational purposes only and does not constitute investment, legal, or tax advice. It is not an offer to sell or a solicitation to buy securities. Any investment opportunity should be evaluated only through the applicable offering documents and with the advice of each investor’s own professional advisors.