Investment Summary for 8259 M. Street
Location Overview:
Situated in the Aviation Sub neighborhood of Detroit, this property is positioned near the vibrant Dearborn community. Just a 4-minute drive from the Islamic Center of Detroit (ICD), it offers convenient access to culturally rich amenities, including Middle Eastern landmarks such as Qahwah House coffee shop and Arabic bakeries. The Arabic community in this area demonstrates significant growth potential, enhancing the neighborhood’s appeal for equity growth compared to Detroit’s broader population demographics.
Neighborhood Characteristics:
Aviation Sub is known for its well-maintained homes and a mix of architectural styles, including bungalows, colonials, and ranches. The neighborhood’s primarily brick homes contribute to its visual charm, and the area benefits from a cohesive community feel, making it an attractive option for residents and investors alike.
Property Details:
- Purchase Price: $90,000
- Current Rent: $1,000 per month (projected to increase to $1,200 immediately post-closing).
- CapEx Plan: $20,000 for key improvements, including: New roof installation.
Replacement of 15 windows.
Kitchen floor upgrade.
Backyard cleanup, including stump removal and vine clearing.
Financial Snapshot:
- After Repair Value (ARV): $140,000
- Neighborhood Appeal: The mix of cultural proximity, aesthetic charm, and steady demand underscores its potential for long-term equity appreciation.
Conclusion:
8259 M. Street represents a promising investment opportunity, with immediate rent growth, a manageable CapEx plan, and long-term potential in a culturally dynamic neighborhood with possible above-average growth potential.