18290 Freeland Street Detroit

$69,000
Reserved
SKU: 2439
Property type: House
Bedrooms
3
Bathrooms
1

Financial Details

  • Est Rent PCM: $950
  • Yearly Income: $11,400
  • Management: $1,140
  • Taxes: $1,202
  • Insurance: $550 Est.
  • Net Income: $8,508
  • Net Yield: 12.30%

Description

Add this Beautiful brick property to your investment portfolio. It’s only minutes away from multiple schools, shopping, and freeway access in an excellent neighborhood.

This traditional 3 bedroom, 1 bathroom family home on 18290 Freeland Street in the Winship neighborhood of Detroit is an excellent investment opportunity. Just renovated, this quality brick property features polished hardwood floors, an open concept kitchen with bay windows, freshly painted walls, and bright, sunny living spaces. The bungalow was built in 1947 and measures 837 square feet on a 5,227 square foot lot with a big backyard perfect for children and outdoor family reunions.

New pictures will be available once the finishing touches of the renovation project are complete.

The Winship community offers a congenial, working-class neighborhood of affordable, traditional brick single-family homes ranging in styles of colonial, bungalows, ranches and duplexes. It is easily accessed by all major freeways. The community has affordable quality senior living apartments and a highly rated nursing rehabilitation facility on West Outer Drive.  Sinai Grace Hospital is within walking distance. The community is home to highly acclaimed public schools, Renaissance High School and Foreign Language Immersion and Cultural Studies School on West Outer Drive, University YES Academy on Curtis Street and A. Philip Randolph Technical High School on Hubbell Street. Peterson Park plays host to the Detroit Police Athletic League and also provides a covered shelter, picnic area, comfort station, walking path, football and softball play fields, tennis courts, water sprayer play area, playground and nearby parking area. The community has nearby grocery stores, pharmacies, gas stations and restaurants on West Seven Mile. Religious facilities are within walking distance. The Winship Community Association is a nonprofit corporation that is actively involved in improving the quality of life for the residents. The community also has active block clubs and neighborhood watch.

If reserved now there is an option to chose between a Section 8 tenant or Cash tenant.

What is Section 8?

Consistent Rent Payment by the Government

Section 8 is a government program that has provided rental assistance to low-income families, the elderly, and the disabled since 1937. Tenants apply for the program, and if they meet certain requirements, they are granted a housing voucher from the U.S. Department of Housing and Urban Development. This voucher allows the tenant to look for rental units within a certain price range that are inspected and approved by the local Public Housing Authority.

The Public Housing Authority is responsible for paying the majority or all of the rent to the property owner or rental management company by check or direct debit each month. Renting to a Section 8 tenant, therefore, provides the advantage of receiving the rental payment consistently each month.

Section 8 tenants know that any violation of the terms of the lease agreement, including paying rent, could result in the loss of their Section 8 voucher. Therefore, they have a strong incentive to pay their portion of the rent each month.