Investment Summary: 11653 Sussex
Property Overview
- Address: 11653 Sussex Street, Detroit, MI 48227
- Purchase Price: $70,000
- Estimated After Repair Value (ARV): $110,000
- CapEx (Capital Expenditure): $15,000 (maximum)
- Rent Potential: $1,200/month (currently at $950)
- Square Footage: 1,169 sqft
- Year Built: 1940
- Lot Size: 40 x 108 ft (0.099 acres)
- Property Taxes (2024): $1,822.40
- Zoning: R1 (Residential
Neighborhood Analysis
- Location: Plymouth-Hubbell neighborhood
- Conveniently situated right off I-96, offering excellent access within Detroit and to Greater Detroit.
- Known for its quiet, all-brick streets and cohesive residential feel.
- Market Insights: The area has experienced above-average growth over recent years while remaining an affordable housing market.
- Proximity to Amenities:
- 5 minutes’ drive to Grand Price Foodland, providing fresh food access.
Comparable Sales
- 11701 Robson Street
- Sold Price: $96,000
- Size: 1,358 sqft
- 11651 Prest Street
- Sold Price: $108,000
- Size: 1,386 sqft
Operational Highlights
- Management Advantage: The property management team is highly familiar with the street, offering streamlined operations and tenant relations.
- Quick Turn Potential: Minimal renovations are needed to prepare the property for rental, allowing for faster cash flow realization.
Investment Summary
This property represents an excellent opportunity in the Plymouth-Hubbell neighborhood, combining affordability, strong rental potential, and proximity to key amenities. The Property Manager is confident the rents can be increased to $1,100 to $1,200 immediately. With a low CapEx requirement and a projected ARV of $110,000, the investment aligns well with strategic goals for affordable housing markets poised for steady growth. You know the going is good when investments sound this easy it’s boring!
Disclaimer
This material is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities in Mutual Trust Management Advisors, LP. Any offering of securities is made only to verified accredited investors pursuant to Rule 506(c) of Regulation D under the Securities Act of 1933. The financial projections, including estimated cash-on-cash returns and property valuations, are forward-looking statements based on current assumptions. These figures are not guarantees of future performance. Real estate investments involve inherent risks, including the potential loss of principal. Past performance is not indicative of future results.