Acquisition #48 – 17/29 Pack: 13418 Kilbourne: Projecting 17% Cash-on-Cash in Year One
Investment Summary
This property is part of the 29 Pack Portfolio purchased in the summer of 2025. The standard purchase price assigned is $52,000, with $5,000 allocated toward capital improvements, bringing the total basis for the asset to $53,510.
At acquisition, the property was rented for $625/month. It now generates $1,525 in monthly rent, representing a strong income profile relative to its entry basis. Our property managers are typically able to underwrite and reach an agreement with the tenant during the pre-purchase walk-through, an ability most landlords lack.
The asset contributes meaningful performance to the portfolio, with a projected 17% cash-on-cash return in year one following the rent adjustment (not adjusted for items such as tax hikes).
Property Overview
- Purchase Price: $52,000 (standardized from the portfolio purchase)
- Capital Expenditure Planned:$5,000
- Total Basis: $53,510
- Original Rent:$625/month
- Current Rent:$1,525/month
- Square Footage: 938~ sq ft
- Bedrooms / Bathrooms: 2 bed / 1 bath
- Construction:Brick
Neighborhood Analysis
- Located in Detroit’s Eden Gardens area, right across from East English Village and Grosse Pointe
- Situated along the I-95 corridor with easy freeway access
- 5-minute drive to Tim Hortons along East Warren Avenue
- 6-minute drive to Grace Supermarket
- Directly across from the family-friendly Chandler Park
Comparable Sales
Our realtors’ comparable sales list shows:
- 14274 KILBOURNE Street, Detroit, MI 48213-1566 — sold for $49,500
Property values in this area remain in flux as of 2025–2026, and the team has assigned a conservative valuation accordingly; further supported by the fact that the current tenant has lived in the property for 8 years. While the market corrects itself, the fund holds an extremely high cash-flowing asset with solid bones.
