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101129 . 41 Home SFR Detroit, MI, St. Clair Shores, MI (Detroit MSA), MI 84225
All 41 homes are single-family detached
Asset mix offers two-, three- and four-bedroom floor plans
Currently, 100% occupied by fully qualified tenants
Value add opportunity as rents are below market
Stabilized Year 1 Gross Yield 9.97%
Stabilized Year 1 Cap Rate of 6.31%
Year 1 NOI at stabilization $536,758
Rents in Detroit have increased by 15% year-over-year
Over the past 3 years, rents in Detroit have grown by 35%
Renter-occupied households in Detroit account for 44% of the total occupied housing units in the metropolitan area
All SVN® Offices Independently Owned & Operated
Local Broker License Information: www.SFRhub.com/realstatelicensing
Director of Brokerage Services
SVN | SFRhub Advisors
License #: BR507919000
SVN | Stewart Commercial Group, LL
Visit www.SFRhub.com and search for portfolio 101129 for more information.
This 41-home SFR investment portfolio offers an investor a significant opportunity in the exceedingly strong and high-growth market where more institutional and high-net-worth investors are focusing efforts and chasing strong yields. These homes are well-positioned to offer a strong in-place yield of 9.27%.
The portfolio offers two-, three- and four-bedroom floor plans on larger lots. Homes range from 925 SF to 1,788 SF. This portfolio is fully occupied and self-managed. The owner is an experienced single-family operator with significant residential experience in Detroit and has focused on selecting quality locations for driving yield, improving properties, and offering the next investor the ability to leverage this market insight and purchase strong, turn-key cash-flowing properties. The average vintage throughout the portfolio is 1960 and currently operating at 100% occupancy.
With high-end retailers like Whole Foods moving in, and high-tech stalwarts like Microsoft, Google, and Pinterest opening offices, Detroit’s future is looking bright. That’s good news for the housing industry and good news for investors. Many real estate investors are surprised to learn that Detroit has been experiencing a renaissance over the last few years. New housing and businesses in the city’s Midtown, Downtown, and New District areas are attracting residents and visitors. People are attracted to Detroit by the low cost of living, affordable rentals, and vibrant neighborhoods.