12945 Forrer St, Detroit, MI 48227

Details: 

🛏️ Beds: 3

🛁 Baths: 1.5

📐 Living Area: 1,064 sq. ft

📐 Lot Size: 4,792 sq. ft

🏢 Year Built: 1928

• UNFINISHED BASEMENT.
• FULL BACKYARD.
• NEW PLUMBING
• NEW ELECTRIC 3 MONTHS OLD. 
• ROOF 2016 BRICK STRUCTURE
• FOUNDATION & STRUCTURE IS OK
• FURNACE 2022

CONTRACT PRICE: $39,971

EST. EXPENSES: $40,000

AFTER RENOVATION VALUE: $150,000

EST. TOTAL PROFIT: $70,000

Does the market support the Sales Projections?

🏘️ Comps:

#1 - 13987 Prevost St, Detroit, MI 48227

3 bd 2 ba - 1,942 sqft 

Sold:$142,000 - Sold on 06/30/23 -

#2 - 12914 Rutherford St, Detroit, MI 48227

3 bd 1 ba - 989 sqft 

Sold:$127,000 - Sold on 10/31/23 

#3 - 12840 Rutland St, Detroit, MI 48227

3 bd 2 ba - 1,260 sqft 

Sold:$150,000 - Sold on 11/08/23 

Exit: Assignment. Assigned to an investor for $39,971 and collected $5,000 assignment fee

Paperworks:

Purchase & Sales Contract

Assignment Agreement 

Closing Statement