Investment Summary
This property is part of the 29 Pack Portfolio acquired in 2025, with a standardized purchase price of $52,000 and a total projected basis of $53,510 after closing costs, and have set aside $5,000 as projected CapEx during the initial year.
15667 Manning is projected to generate $950/month in rent, with underwriting supporting approximately $588/month in cash flow. The asset delivers a strong return profile, with an estimated 8.70% annual return on invested capital.
Property & Condition Overview
The property is a 3-bedroom, 1-bath single-family home with approximately 948 square feet of living space.
It is located on a solid brick block and benefits from a Section 8 tenant who moved in around 2020, providing stable and predictable income.
Location & Accessibility
The property is located in the Regent Park area, a residential neighborhood with steady rental demand.
- Positioned just off 8 Mile
- Close to major retail stores like Home Depot and Aldi
- Surrounded by everyday amenities and services such as ALDI and Gratiot Fairmount Market
Comps
- 16461 E STATE FAIR Street Detroit, MI 48205-2038 sold for $105,000
- 16511 Manning Street Detroit, MI 48205 sold for $80,000
As is usually the case, the comps typically deliver a vacated move-in ready property sale record nearby. The fund is being extremely conservative in assigning $57,000 ARV to this property as it is.