5579 Lenox Street

Detroit, United States of America

Properties > 5579 Lenox Street
FUNDING TARGET
$88,000
DAYS LEFT
Fully Funded
INVESTMENT TERM
4 years
EST. ANNUAL RETURN
8.95%
100% FUNDED
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Description

Single-family, 3 bedroom 1 bathroom, home originally constructed in 1939. The property offers a spacious 96.71mof living space and has a large basement.

In addition, the property comes complete with forced air heating and central cooling offering a warm, comfortable environment in the winter and cool, fresh space in the summer.


About the area

Detroit is the largest city in the Midwestern state of Michigan. Near Downtown, the neoclassical Detroit Institute of Arts is famed for the Detroit Industry Murals painted by Diego Rivera, and inspired by the city’s ties to the auto industry, giving it the nickname "Motor City."

Detroit is also the birthplace of Motown Records, whose chart-topping history is on display at their original headquarters in Hitsville, U.S.A.


Selling points

Recently refurbished, this property offers fantastic rental returns of 8.95%*. Not only that, the property is fully certified and comes under the Federal Governments Section 8 Rental plan meaning that the rental is partially guaranteed by the US government. This plan also serves to reduce tenancy risk on the property.

In addition to that, numerous private and state lead initiatives are focusing on rebuilding Detroit, its downtown neighbourhoods and increasing employment. We believe that all of these factors combined will help to drive property prices in the area higher in the near future and further increase investors’ returns.


Investment Timeline
  • Funding started
    25th May 2021
  • Funding complete
    27th May 2021
  • Rental starts
    1st July 2021
  • Returns start
    1st Aug. 2021
  • Year 1 returns
    1st Aug. 2022
  • Year 2 returns
    1st Aug. 2023
  • Year 3 returns
    1st Aug. 2024
  • Year 4 returns
    1st Aug. 2025
  • Property sold

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