16701 Tuller Street
Detroit, MI 48221
- – beds
- 2 baths
- 1,067 sqft
- 3,049 sqft lot
- $126 per sqft
- 1926 build
- – on site
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.
Last checked:
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Last updated Oct 27, 2024
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MLS# 20240077603 —
The Building
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Year Built:1926
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Construction Materials:Brick
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Roof Material:Asphalt
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Architectural Style:Upper/Lower Apartment
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Foundation:Block
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Foundation Details:Basement
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# of Units Total:2
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Stories:3 Story
Interior
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Basement:Yes
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Basement Type:Unfinished
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Fireplace:No
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Total:1,067 Sqft
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Total Combined:1,067 Sqft
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Total Basement:849 Sqft
Financial & Terms
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Land Contract:No
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Short Sale:No
Location
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Directions:West of Livernois South of McNichols
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Directions From North South Detail:W McNichols & Livernois
The Property
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Property Type:Multifamily
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Parcel Number:W16I026955S
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Exclusions:No
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Zoning:Multi-Family
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Homestead:No
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Lot Size Dimensions:30.00 x 100.00
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Lot Size Area:0.07
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Frontage Feet:30
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Pool:No
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Waterfront:No
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Road Frontage Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (248) 288-3500
- Office phone:
- (248) 288-3500
Taxes
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Total Taxes:$978
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Tax Amount Summer:$898
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Tax Amount Winter:$80
Baths
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Total Baths:2
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Full Baths:2
Heating & Cooling
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Heating:Forced Air
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Heating Fuel:Natural Gas
Utilities
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Sewer:Public Sewer (Sewer-Sanitary)
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Water Source:Water at Street
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Water Heater Fuel:Natural Gas
Schools
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School District:Detroit
The Community
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Subdivision Name:THE GARDEN ADDITION NO 2 (PLATS)
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Pets Allowed:No
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Assessment:240.00
Extra Units
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Unit Two Bed Number Of:2
IDX provided courtesy of Realcomp II Ltd., via Estately and Realcomp II Ltd, © 2024 Realcomp II Ltd. Shareholders
Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
IDX provided courtesy of Realcomp II Ltd. via Estately Inc. and REALCOMP. ©2024 Realcomp II Ltd. Shareholders.
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/27/24
Oct 27, 2024
|
Listed / Active | REALCOMP | $134,900 | |
|
10/26/24
Oct 26, 2024
|
Sold Subject To Contingencies | REALCOMP | $134,900 | |
|
10/15/24
Oct 15, 2024
|
Listed / Active | REALCOMP | $134,900 |
