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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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3273 Cortland St , Detroit, MI 48206
$250,000
Est. Payment: $555.56/mo
0 Bed
2 Bath
0 Sqft
Status: Active | Days on site: 23
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375382 - 426431
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House Description

Completely renovated duplex and ready for its next owner, 3273 Cortland offers two spacious 3-bedroom, 1-bath units with projected rental potential of up to $3,100/month - an impressive combination of condition, income potential, and flexibility for both investors and owner-occupants. Extensively renovated in 2024, nearly every aspect of the property has been updated, including a new roof, new windows, updated kitchens and bathrooms, luxury vinyl plank flooring, fresh interior and exterior paint, and updated plumbing, electrical, and mechanicals. Outside, the improvements continue with new front and rear decks, a fully fenced backyard, and a newly built 2-car garage. Separate gas and electric meters help simplify tenant management. For investors, projected rents of up to $3,100/month provide $37,200 in potential annual gross income and the potential for an approximately 12% cap rate based on projected rents and estimated expenses at the current asking price. Both units are currently vacant, giving the next owner control from day one - select your own tenants and establish new leases, or occupy one unit and rent the other to help offset your housing costs. Conveniently located near Henry Ford Hospital, Wayne State University, Midtown, the Motown Museum, Downtown Detroit, major roads, schools, and area amenities. With the major renovations already completed, strong projected rental potential, and two fully available units, 3273 Cortland is ready for an investor to put to work or an owner-occupant to call home. Schedule your private showing today. BATVAI. No Seller-Financing or Land Contract offers will be presented to the seller. Video and audio recording may be in place.

Highlights

Listed by Jay Naim , 313-571-6581 EXP Realty Main , 888-501-7085.

Property Type

Multi-Family

Lot/Acreage
0.1

HOA Fee

Year Built

1924

County

Wayne

School District

Detroit

Listing ID

20261066514

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:2
  • Full Bathrooms:

Exterior Features

Principal Interest
$556
Taxes
$303
HOA
$0

Home Price

$250,000

Loan Details

30 yrs
%

Down Payment

20%
$50,000
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Monthly Price:
$555.56

Principal

Taxes

Principal Taxes HOA Total
Monthly $555.56 $303.33 $0.00 $858.89
Yearly $6,666.67 $3,640.00 $0.00 $10,306.67
Total $200,000.00 $109,200.00 $0.00 $309,200.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.