Welcome to your next investment opportunity in the heart of Southwest Detroit! This 10-unit building is a beacon of potential, boasting numerous features that make it a lucrative addition to your portfolio.The upgraded units in this building command top dollar, with rents reaching up to$1, 200per month. This means a potential annual income of around$140, 000when all units are fully upgraded.Southwest Detroit is experiencing rapid appreciation, making this property an even more attractive investment. The neighboring$4.4BNGordie Howe Bridge development is scheduled to complete next year. Its surrounding areas have seen significant development, making it an exciting time to invest in this community.Each unit in this building is individually metered, ensuring that tenants are responsible for their utility costs, simplifying property…
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The average household income in
Detroit, MI
grew
from
$30,344
to
$31,283
in the past year. This data is an estimate based upon
266,333
households in
Detroit, MI. The chart below presents how household income is distributed in
Detroit, MI
in comparison to the revenue allocation amid households nationally.
Property Taxes
Average range: $800-$1,500
One of the most important aspects for property owners is the amount of property taxes. This graph shows
distribution of property taxes in
Detroit, MI
compared to median property taxes around the country. The prevalent amount of property taxes in
Detroit, MI
equals
$800-$1,500
, which is
less
than the national average.