This 3-bed, 1.5-bath, 1,386-square-foot property is in a small neighborhood called Shulze, located right next to one of Detroit’s most popular residential areas, Bagley. It is just a short drive from Sinai-Grace Hospital.
The team was able to make a great opportunity out of this property through its strategic partnership with its sister company, Own It Detroit – Mutual Property Management, LLC, who has managed this property for a silent long distance investor for a long time. The property is located close to the Sinai Grace Hospital in the Harmony Village neighborhood.
Current Rent: 663.00 -> $800
This low-maintenance tenant has been in this property since 2018 and does not wish to leave. She agreed to a rent increase to $800 post-closing.
The recommended play is to buy it as-is for cash, and do nothing. Let the tenant stay for as long as possible with small increases in rent over time, and eventually it would make a great flip because the area has great growth potential, and nearby comparables are available at about $125,000 for this gem.
Buy and Hold Opportunity
This is a 3 bed, 1 bath, brick construction currently rented.
Current Rent: $650/month
Tenant has agreed to increase the rent to $800 post-closing. She has lived in the property for over 10 years, providing stability, and is likely to remain long-term. This makes the property an attractive investment with consistent cash flow.
6190 Harvard is a charming brick building located in the highly sought-after East English Village neighborhood, just north of Grosse Pointe.
