Here's a rare investor opportunity - a fully updated duplex with both units occupied by Section 8 tenants backed by the government. This Detroit duplex features two 2-bedroom, 1-bath units, both currently rented through Section 8 at $1,150/month and $950/month, for a total monthly rent roll of $2,100/month and $25,200/year in gross scheduled income. The property has been recently refreshed, helping reduce near-term maintenance concerns and support tenant retention. Updates include brand-new vinyl windows, fresh paint throughout, new plush carpeting, updated kitchen cabinets and countertops, and new furnaces for improved efficiency and reliability. From a buy-and-hold perspective, this asset checks several important boxes: two occupied units, Section 8 rental income,… Read More separate income streams, updated interiors, and major mechanical improvements already completed. The duplex setup also helps reduce reliance on a single tenant, while the 2-bedroom unit mix remains practical and rentable in Detroit's investor market. Priced at $170,000, the property offers an attractive 14.8% gross rent-to-price return and a 1.24% monthly rent-to-price ratio. For DSCR buyers, the current rent roll creates strong debt coverage potential. Based on a typical 75% LTV scenario, the estimated loan amount would be approximately $127,500, giving investors a solid income base to work with. Final DSCR will depend on lender rate, taxes, insurance, and underwriting, but the rental income is compelling for investors looking for cash-flowing Section 8 product. For investors seeking immediate rental income, DSCR potential, and strong gross rent performance at a reasonable price point, this duplex deserves a serious look. Please do not disturb tenants. Showings available with accepted full-list offer only. Read Less
Listing information is provided in part through IDX via MiRealSource and is deemed reliable but not guaranteed. All properties are subject to prior sale, change, or withdrawal. Listing is courtesy of Keller Williams First, 810-515-1503, the brokerage and MiRealSource Shareholder that originated the listing.
Listing Snapshot
Days Online
2
Last Updated
Property Type
Multi-Family
Square Ft.
2,450
Lot Size
0.09 Acres
MLS Number
61004156
Additional Details
Property Access
Paved Street
Basement
Block
Building
2,450 square feet, 2 total units, Built in 1923, Style: 2 Story, Duplex
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
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Mortgage Calculator
Monthly Payment
$0
(Source: Home Junction)
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