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$ 99,000
Est. payment /mo
New
2597 W 8 Mile Road Detroit, MI 48221
3 Beds
2 Baths
1,495 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,495 sqft
Price per Sqft $66
MLS Listing ID 20261058788
Bedrooms 3
Full Baths 1
Half Baths 1
Year Built 1938
Annual Tax Amount $130
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 40X100
Property Sub-Type Single Family Residence
Source Realcomp
Property Description
Note that the ability to sell was held up by the probate court, but we are now ready to go.Outstanding buy-and-hold opportunity in one of Detroit's most stable and appreciating rental pockets. This solid brick colonial offers investors a clear path to strong returns. the property features a new roof and other updates. Once an estimated $30,000 in improvements, are completed, the property is positioned to qualify for top-tier Section 8 payment standards, delivering an estimated 14% annual return.The equity story is just as compelling. Recent sales in the immediate micro-market—including 2444 Woodstock, located directly behind the subject—support an after-repair value of $250,000. The Woodstock comps demonstrate consistent buyer demand, strong retail values, and a neighborhood trajectory that continues to push upward. You'll get both high guaranteed rents and meaningful back-end appreciation, creating a rare dual-benefit hold.Whether you're looking to lock in predictable Section 8 cash flow, execute a BRRR-style refinance, or simply add a high-performing Detroit asset to your portfolio, this property delivers on every front. Cash flow today, equity tomorrow — all in a ZIP code known for long-term stability.
Location
State MI
County Wayne
Direction Take Woodward to Eight Mile, then East to the property.
Interior
Heating Forced Air
Exterior
Parking Features Detached
Garage Spaces 2.0
View Y/N No
Garage Yes
Building
Story 2
Sewer Public
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W02I006155S
Acceptable Financing Cash
Listing Terms Cash
Listed by Home Negotiators LLC