13989 Cherrylawn Street, Detroit, MI 48238
13989 Cherrylawn Street, Detroit, MI 48238
13989 Cherrylawn Street, Detroit, MI 48238
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134
$85,000
Est. payment /mo
2 Baths
3,484 Sqft Lot
Save

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Coming Soon

Purchase Type For Sale

MLS Listing ID 20261062104

HOA Y/N true

Year Built 1929

Annual Tax Amount $773

Lot Size 3,484 Sqft

Acres 0.08

Lot Dimensions 35X100.28

Source Realcomp

Property Description

You found me, and if a brick two-family with income already in place is what you've been hunting for on Detroit's west side, you can stop looking. I'm 13989 Cherrylawn, a brick and vinyl two-family with an original fireplace surround and mantel, arched doorways, a decorative ceiling medallion, and original mosaic tile bathroom flooring, the kind of detail builders don't put in anymore. My hardwood floors are preserved underneath the laminate throughout, waiting for you to reveal them whenever you're ready. A partially finished basement and a 2-car detached garage behind a covered brick porch add everyday convenience.Here's what makes me interesting on paper. One unit is already tenant occupied at 800 dollars a month, and assuming today's roughly 6.75 percent rate, a DSCR loan at 20 percent down puts your cash-on-cash return around 25 percent using that income alone, meaning for every dollar you put in, you'd get about a quarter back every year after the mortgage. Live in the other unit yourself and that same 800 dollars a month can cover the bulk of your payment. Rent both units out at similar rates instead, and a low-down-payment FHA or conventional buyer could see cash-on-cash returns well over 100 percent, since so little cash goes in relative to the income coming back.I sit in the Livernois and Grand River corridor on Detroit's west side, minutes from Henry Ford Hospital and Marygrove College, with quick access to I-96 for a straight shot downtown, the kind of location that keeps tenant demand steady for years to come. Reach out to the listing agent for details.

Location

State MI

County Wayne

Zoning Multi-Family

Direction Proceed to Schoolcraft Rd.

Interior

Heating Forced Air

Exterior

Amenities Available Pets Allowed

View Y/N No

Building

Water Public

Structure Type Brick,Vinyl Siding

Schools

School District Detroit

Others

Tax ID W16I033458S

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Read Less Info
Listed by Pretty Home Realty

Nearby School & Business

Get More Information

Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134

Team Leader, Broker | License ID: 6506047709

Team Leader, Broker License ID: 6506047709

Name

Name

Phone*

Phone

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Keller Williams Lakeshore, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

REVIEWS

MORE
  • 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
MORE
Quick Search