MI > Detroit > Mi
Detroit, MI 48221 2973,16701 TULLER Street
Detroit, MI 48221 2973,16701 TULLER Street
Detroit, MI 48221 2973,16701 TULLER Street
Detroit, MI 48221 2973,16701 TULLER Street
Detroit, MI 48221 2973,16701 TULLER Street
Detroit, MI 48221 2973,16701 TULLER Street
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
Sun
15
Dec
Mon
16
Dec
Tue
17
Dec
Tanisha Perona

Tanisha Perona

+1(401) 484-0130
$ 134,900
Est. payment | /mo

2 Baths

1,067 SqFt

Save
$ 134,900
Est. payment | /mo
Save

2 Baths

1,067 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 1,067 sqft

Price per Sqft $126

Subdivision Mi

MLS Listing ID 60347330

Full Baths 2

Year Built 1926

Annual Tax Amount $978

Lot Size 3,049 Sqft

Acres 0.07

Lot Dimensions 30.00 x 100.00

Property Description

Welcome to 16701 Tuller Street, a beautifully renovated duplex located in the heart of Detroit, MI. This property has been meticulously upgraded from top to bottom, making it an ideal turnkey investment opportunity for buyers looking for immediate cash flow and solid returns. Priced at just $134,900, this 4-bedroom, 2-bathroom home offers tremendous value with an above-average 9.73% CAP rate. Key Features: - Fully Renovated in October 2024 – Enjoy peace of mind with new plumbing, two brand-new hot water heaters, updated electrical systems, and fresh paint throughout both units. - Modernized Kitchens & Bathrooms – Both units have updated kitchens and bathrooms, featuring new flooring, cabinetry, and fixtures. - Income-Generating Property – The upper unit will be rented for $650/month to a reliable tenant whose rent is covered by The Michigan State Housing Development Authority through December 2024. The lower unit is rented for $1,175/month, bringing total monthly rental income to $1,825. Tenants are responsible for all DTE utilities and partial water. - High ROI Potential – With stable tenants in place and minimal maintenance required after the renovations, this property offers an incredible investment opportunity with a 9.73% CAP rate, ensuring strong returns on your investment. Assuming a 15%-20% down payment on an investment property loan and today's interest rate, the monthly mortgage payment would be roughly $879. Property monthly rental income is $1,875. - New 6ft Privacy Fence – The fully fenced-in yard provides added privacy and security for tenants, enhancing the overall value of the property. - Two New Hot Water Heaters, New Windows, Updated Furnace – Both units are fitted with some new windows and an updated furnace, ensuring energy efficiency and comfort for tenants year-round. This property is legally zoned as a duplex but can easily be converted into a spacious single-family home, adding even more versatility for future owners.

Location

State MI

County Wayne

Area Detroit (82001)

Zoning Multi-Family

Rooms

Basement Block

Interior

Heating Forced Air

Fireplace No

Exterior

Exterior Feature Brick

Building

Foundation Basement

Water Public Water at Street

Structure Type Brick

Schools

School District Detroit City School District

Others

Assessment Amount $240

Energy Description Natural Gas

Financing Cash,Conventional,FHA,VA

MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by KW Metro
agent-avatar

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(401) 484-0130

tanisha@rwgrealty.com

East Providence

Learn More About LPT Realty

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.

Tour the Home

16701 TULLER Street