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
$ 49,999
Est. payment /mo
New
12477 Loretto Street Detroit, MI 48205 3950
2 Baths
1,359 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,359 sqft
Price per Sqft $36
Subdivision Mi
MLS Listing ID 60989362
Style 2 Story
Full Baths 2
Year Built 1927
Annual Tax Amount $1,476
Lot Size 3,484 Sqft
Acres 0.08
Lot Dimensions 30X110
Property Sub-Type Multi-Family
Property Description
Welcome to 12477 Loretto, a prime investment opportunity located in the growing city of Detroit. Whether you're an investor looking to expand your portfolio or a buyer seeking the perfect house-hack opportunity, this property offers strong income potential and long-term upside. This home features 2 bedrooms, each with rental potential of $1,200 per month, generating a total gross monthly income of $2,400, which equals $28,800 annually in projected rental income. With the right management and light improvements, this can become a proven cash-flowing asset. The property does need minor upgrades and cosmetic improvements, making it ideal for investors who want to add value and increase equity quickly. A little work can go a long way in maximizing rents and resale value. Location Highlights: * Convenient access to Downtown Detroit, offering jobs, entertainment, dining, and nightlife * Close to major freeways for easy commuting throughout Metro Detroit * Near public transportation for added tenant convenience * Located within reach of respected local school options and educational resources * Strong rental demand area with continued neighborhood growth potential Perfect For: * Buy-and-hold investors * First-time investors * House hackers looking to live in one unit and offset expenses * Renovators seeking equity upside Don't miss this chance to secure an affordable income-producing property in one of Michigan's most recognized rental markets. 12477 Loretto is your opportunity to build wealth through real estate.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Residential
Rooms
Basement Block
Interior
Heating Forced Air
Fireplace No
Exterior
Exterior Feature Brick, Vinyl Siding
Building
Story 2 Story
Foundation Basement
Water Public Water
Structure Type Brick,Vinyl Siding
Schools
School District Detroit City School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional,Conventional Blend,FHA,VA
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by SimpliHom