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Values Up 5.6%, Rent Holds at $1,600
Updated 11 days ago • 2 new comps
Your Investment Paths
Turnkey Rental
The rent potential for this 1,260 square foot property is promising, with monthly income projections ranging between $1,403 and $1,636. These figures suggest a healthy rental baseline for similar four-bedroom, two-bath homes in this Detroit neighborhood. Steady market demand supports these rental estimates, offering a solid foundation for long-term income. Given the recent sales activity, investors should focus on these rental targets to maximize cash flow while maintaining competitive local pricing.
More about this home
Neighborhood Assessment
Well, Carrie Avenue sits in Detroit's 48234 zip code, which is known for its mix of traditional homes and long-standing community ties. Even though we don’t have specs on bedrooms or square footage right now, the area’s got a gritty urban vibe and is only a short drive from downtown attractions. You can find plenty of potential if the neighborhood keeps seeing positive changes—like new retail or grocery stores popping up—but there’s also turnover and inconsistent pricing.
Market Activity
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Rental Income
$18K
Yield
—
Year 1 Estimates
Fix-and-Flip
Refreshing a home brings a significant boost, with price per square foot jumping from $96 to $113, a 17.9% increase. This transformation creates a modern, inviting space that helps your property truly shine in the local market. With a potential value increase of over $21,000, these updates effectively unlock new equity. This investment enhances both sale potential and rental appeal, making it a savvy choice for creating a home that buyers and renters love.
Value Add
$22K
Post Typical Renovation
Buy-Rehab-Rent
This property offers solid BRR potential with a post-renovation value reaching up to $153,000. Renovations elevate the price per square foot significantly, justifying the investment and maximizing the equity captured during the BRRRR process. Annual rental income is projected at $19,224, delivering a strong 13.2% yield. These rental figures and the clear value-add trajectory make this a practical, income-focused asset for a disciplined real estate investment portfolio.
Rental Income
$19K
Yield
13.2%
Year 1 Estimates, Post Typical Renovation
Asking price
$125K
$6.5K below comp median
Comparative Market Analysis
$116K – $169K
~468 days to sell
Based on 6 comps
18666 Carrie Avenue, Detroit Investment Report: Flip & Rental Analysis · Frontflip