Investment Summary
This property is part of the 29 Pack Portfolio acquired in 2025, where the packaged cash purchase allowed the fund to secure cash-flowing assets at an attractive basis.
20410 Packard is stabilized at $900 monthly rent, generating approximately $532 in monthly cash flow.
This property came with a solid equity capture of 21%. While the high taxes that often accompany a solid brick home in a desirable area make the cash flow lower than some of its counterparts in the pack, we still view this as a strong acquisition with a stable in-place tenant and clear long term value.
Property Overview
- Purchase Price: $52,000
- Projected CapEx: $15,000
- Total Basis: $53,862
- Monthly Rent: $900
- Estimated Monthly Cash Flow: $532
- Expected Return on Invested Capital: 6.94%
- Square Footage: 1,069 sq ft
The property is a 3-bedroom, 1-bath single-family home with 1,069 square feet of living space. Packard is a stabilized asset with a long-term tenant in place since 2020, providing immediate income continuity.
The property also benefits from several positives already in place. The furnace and water tank are new, and while there are still repair items to address, including the roof, front step, and driveway, the overall setup supports continued operation without urgent disruption.
Neighborhood Analysis
Location: Right by 8 Mile Road, near East Van Dyke
- Nearby daily convenience retail, including Joe Randazzo’s Fruit & Vegetable Market, about 4 minutes away
- Located on a solid B-class block
- Surrounded by stable brick housing stock
The location supports steady tenant demand because it combines convenience, established housing, and access to everyday shopping. For a stabilized single-family rental, that kind of setting matters because it helps support occupancy and reduces leasing friction over time.
Valuation & Market Position
The property benefits from a favorable basis relative to market values.
- Zillow Estimate: $70,500
- Internal Valuation: $68,400
- Equity Capture: $14,523 (21%)
Even after accounting for the repair needs and the tax burden, the deal still presents meaningful built-in value. In our view, that makes Packard an appealing hold with stable income already in place and upside preserved through basis discipline.
Comparable Sales
- 20144 Packard Street, Detroit, MI 48234, sold for $85,000.
- 20045 Rogge Street, Detroit, MI 48234, sold for $80,000.
These comparable nearby sales further support the valuation. Overall, Packard offers a combination of existing cash flow, a long-term tenant, and locked-in equity that makes it a solid addition to the portfolio.