101129 . 41 Home SFR St. Clair Shores, MI (Detroit MSA)

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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

Property Description

Contact:
TOM JOHNSTON
Director of Brokerage Services
SVN | SFRhub Advisors
T: 602.825.1780
C: 602.403.3695
tom.johnston@svn.com
License #: BR507919000

BOR:
SVN | Stewart Commercial Group, LL
Dan Stewart
Managing Director

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.
 

Key Property Information

Listing Status
Unavailable
Multifamily type
Single Family Rental Portfolio
No. of Units
41
Average Occupancy
100%
Year Built
1960
Building Size
48,458.99 Sq ft
Lot Size
320,604.99 sq ft
Opportunity Zone
No
Buy Side Fee
50%

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