16652 Mendota Street

Description

Located in the historical & appreciating community of the Westside of Detroit, Murphy Bros Loyola Estates subdivision, Curtis & Wyoming, within walking distance of Marygrove College and Mumford High School. This beautiful brick bungalow home has three bedrooms and one full size bath.The current value of the property is $125k, giving you a new investment property with over $25,000 in equity at closing.If you are a first-time buyer currently renting or just looking for a new home for yourself or loved one, this property is an excellent starter home, with an affordable mortgage of $100k /30 yr. fixed / 7.377% interest / gives you a payment of less than $700 per month!If you are a property investor, The property is currently vacant. Property can be rented at the current market rental rate of $1500 per month for a three bedroom with a 13.5% Cap rate. Tenant placement services are available for purchaser if needed.Operating expenses are minimal and self-sufficient, with individually metered electric and gas service for each unit covered by the tenants. Owner pays water, property taxes, and insurance.Property management services are available for purchaser if needed. This is a true turnkey income producing property in an appreciating neighborhood. warranty deed available (free & clear)Purchaser to pay $645 compliance fee to Prestige Realty Services, LLCThis property is available individually or in a 5-property package deal with:18988 Prest18669 Strathmoor18259 Pinehurst17394 Mendota16652 MendotaPlease contact listing agent for further details on package deal.