The property is located in the Morningside neighborhood of Detroit, an area composed primarily of brick single-family homes and stable residential blocks. It is right next to East English Village and Grosse Point. Recent market data suggests the average home price in the area is now approaching $100,000, which supports the long-term value potential of the investment.
This single-family property was acquired for $52,000, with a projected total basis of approximately $72,010 after counting in closing costs and initial improvements. This acquisition captures an estimated equity of 39%.
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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.
