For more information regarding the value of a property, please contact us for a free consultation.
51259-51261 MOROWSKE Drive Shelby Twp, MI 48316
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $250,000
Property Type Multi-Family
Sub Type Ranch
Listing Status Sold
Purchase Type For Sale
Square Footage 1,316 sqft
Price per Sqft $189
Subdivision Charles Gardens
MLS Listing ID 20230088108
Sold Date 01/19/24
Style Ranch
Bedrooms 2
Full Baths 2
Originating Board Realcomp II Ltd
Year Built 1957
Annual Tax Amount $2,696
Lot Size 0.300 Acres
Acres 0.3
Lot Dimensions 100x132
Property Description
Awesome opportunity in a great location. One unit just became available to show. Was previously rented for 2 years at $1050/mo. Other unit has long term tenant at $950/mo. GROSS INCOME of $24,000 annually. And the potential for increased. Expense structure, including annual taxes of $2,696, water costs of $312 (for both units in 2022), $1,464 in current insurance expenses, and lawn maintenance costs of $780. This translates to a NET PROFIT of $18,748 and an impressive 7.25% CAP RATE. Garage is currently being used by owner. New buyer can allow tenants to use it for rental increase, use it for themselves or rent it out.
Beyond the numbers, this duplex offers attractive features, including recent updates such as a two-car garage, a new roof, and cosmetic enhancements throughout. Each unit includes its own laundry facilities, ensuring tenant convenience. The property also boasts a spacious yard, a large shed, and decks for both units.
Location
State MI
County Macomb
Area Shelby Twp
Zoning Multi-Family
Direction North side of 23 mile before M53. East of Van Dyke.
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Wall Unit(s)
Fireplace no
Heat Source Natural Gas
Exterior
Garage Spaces 2.0
Pool No
Waterfront no
Roof Type Asphalt
Road Frontage Paved
Garage yes
Building
Foundation Crawl
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Ranch
Level or Stories 1 Story
Structure Type Aluminum
Schools
School District Utica
Others
Pets Allowed Yes
Tax ID 0715453014
Ownership Broker/Agent Owned,Short Sale - No
Assessment Amount $50
Acceptable Financing Cash, Conventional, FHA, VA
Rebuilt Year 2013
Listing Terms Cash, Conventional, FHA, VA
Financing Cash,Conventional,FHA,VA
Read Less
©2024 Realcomp II Ltd. Shareholders
Bought with Real Estate One Inc-Shelby