11437 Kenmoor Street, Detroit, MI 48205
11437 Kenmoor Street, Detroit, MI 48205
11437 Kenmoor Street, Detroit, MI 48205
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Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134
$85,000
Est. payment /mo
3 Beds
2 Baths
1,603 SqFt
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Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,603 sqft

Price per Sqft $53

MLS Listing ID 20261036809

Bedrooms 3

Full Baths 2

Year Built 1938

Annual Tax Amount $2,488

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 40X131

Property Sub-Type Single Family Residence

Source Realcomp

Property Description

Here's a cash-flowing tenant occupied brick rental with strong fundamentals already in place. Priced at $85,000 and currently rented at $1,375/month, with a scheduled increase to $1,448/month, this 3-bedroom, 2-bath single-family home offers investors immediate income and attractive rent-to-price performance. The tenant is currently month-to-month and is willing to sign an annual lease if the next owner prefers longer-term stability. From an investor standpoint, the numbers are strong. At the current rent, the property produces $16,500/year in gross rental income, which equals approximately a 19.4% gross rent-to-price return. At the scheduled rent increase of $1,448/month, annual gross rent rises to $17,376/year, increasing the gross rent-to-price return to approximately 20.4%. For DSCR-focused buyers, the rental income gives this property attractive coverage potential. Based on an estimated 75% LTV loan, the current rent produces a strong estimated DSCR before taxes and insurance, and the scheduled rent increase improves that position even further. Final DSCR will depend on lender rate, taxes, insurance, and underwriting guidelines. The home also offers several ownership advantages investors look for. Brick construction, a good roof, a new furnace in 2024, and a new hot water heater in 2024 help reduce near-term capital concerns. The 1,603 sq ft layout includes 3 bedrooms, 2 full baths, a fireplace, and newer windows, giving tenants the comfort and functionality that support long-term occupancy. This is the kind of asset investors want in a buy-and-hold portfolio: already rented, solid monthly income, durable brick construction, recent mechanical updates, and upside with a scheduled rent increase. Please do not disturb the tenants. Contact us for details and showing instructions.

Location

State MI

County Wayne

Direction Take 6 mile Mcnichols toward Gunston south to Kenmoor west to property

Interior

Heating Forced Air

Fireplaces Type Living Room

Fireplace true

Exterior

View Y/N No

Garage No

Building

Story 2

Sewer Public

Water Public

Structure Type Brick

Schools

School District Detroit

Others

Tax ID W21I014091S

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

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Listed by Keller Williams First

Nearby School & Business

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Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134

Team Leader, Broker | License ID: 6506047709

Team Leader, Broker License ID: 6506047709

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  • Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!
    Gordon L
  • Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!
    Emily Rzeszutko
  • Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!
    Kayla Kocal
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