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9244 Mendota St, Detroit, MI 48204

View Smart Contracts: Eth Gnosis

Total Investment: $ 62,446.40

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.44%

    Not including capital appreciation

  • Income per Token

    $ 4.75 / year

  • Income Start Date

    September 15, 2023

  • Token Price

    $ 50.36

  • Total Tokens

    1,240

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above yield for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

  • Property Type

    Single Family

  • Full Address

    9244 Mendota St, Detroit, MI 48204

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Barton - McFarland

  • Construction Year

    1923

  • Bedroom/Bath

    3 Beds / 1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 10,200.00

  • Gross Rent / month

    $ 850.00

  • Monthly Costs

    - $ 359.00
    • Property Management (8.00%)
      - $ 68.00
    • RealT Platform (2.00%)
      - $ 17.00
    • Maintenance Expenses
      - $ 110.00
    • Property Taxes
      - $ 124.00
    • Insurance
      - $ 40.00
    • Utilities
      Tenant-paid

  • Net Rent / month

    $ 491.00

  • Net Rent / year

    $ 5,892.00

  • Total Investment

    $ 62,446.40
    • Underlying Asset Price
      $ 26,000.00
    • Sourcing Fee (10%)
      $ 6,244.44
    • Initial Maintenance Reserve
      $ 1,700.00
    • Initial Renovation Reserve
      $ 27,000.00
    • Administrative Fees
      $ 1,500.00
    • Unrounded Listing Price
      $ 62,444.44
    • Rounding Difference
      $ 1.96

  • Expected Income

    9.44%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    4,660

  • Foundation

    Masonry

  • Exterior Walls

    Siding

  • Roof Type

    Asphalt

  • Interior Size (sqft)

    1,344

  • Heating

    Forced Air w/o Ducts, Gas

  • Building Class

    C

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-9244-MENDOTA-ST-DETROIT-MI

  • Total Tokens

    1240

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    August 24, 2023

  • Issuer

    RealToken International 9244 Mendota St Inc

  • Min. Investment Amount

    $50.36

  • Max. Investment Amount

    $62,446.40

  • Amount Raised

    $62,446.40

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

9244 Mendota: Revival and Investment

At the heart of 9244 Mendota lies a story of both neglect and opportunity, spanning 1,344 square feet on a 4,660 square feet lot. Its architectural beauty, from its masonry foundation to its asphalt roof, mirrors the charm of neighboring homes, standing as a testament to a bygone era.

The Unseen Journey

Over the years, the property was not given the maintenance it deserved. Yet, within the echoes of its faded glory, a unique investment opportunity emerged. This very neglect opens the door to revitalization, breathing new life into a space that once stood proud.

Pathways to Accessibility and Value

A pivotal chapter unfolds through accessibility enhancements. The property’s full compliance with ADA (Americans with Disabilities Act) standards embraces a vision of inclusivity. Ongoing renovations, including the transformation of the handicap ramp, resonate with the promise of a welcoming haven for all. Further, these renovations ensure S8 compliance, adding an additional layer of distinction to this investment.

Harmony of Strategy and Return

Positioned near RealT properties like 10003 Pinehurst, 10024-10028 Appoline and 15778 Manor, 9244 Mendota is part of a symphony of operational efficiency. This strategic proximity ensures smooth management, while a projected annual return of 9.44% will attract investors seeking a harmonious blend of stability and growth.

A Visual Bridge to Transformation

A $27,000 renovation fund allows Mendota to embrace modernization without compromising the property’s intrinsic character. These renovations, echoing ADA and S8 compliance, narrate a story of purposeful change. The 2018 Google Street View image above enriches this narrative, visually bridging the gap between past and present.

Embrace the Story

9244 Mendota is a tale of redemption and investment potential. The echoes of its past missteps reverberate into a future of accessibility, financial promise, and strategic RealT investment. The journey awaits – step into a narrative where history meets opportunity.

Map

Property Records

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Why Detroit?

INVEST RIGHT

Detroit, one of the fastest growing major cities in America and best kept real estate secrets, is rich with history, and  possesses a colorful cultural fabric. Despite being among the 15 largest metro areas in the US, Detroit drivers spend the least amount of time in traffic during peak periods. Beyond automotive innovation, Detroit is home to dozens of startup incubators, and is surging on Inc.’s list of top 50 cities to start a business*. Root for the Lions, Tigers, Pistons and Red Wings, or enjoy the outdoors with over 200 miles of hiking trails nearby, 9 state parks, and over 3200 miles of coastline to explore.

There’s something for everyone here, because Detroit is for everybody.

The Interests, in the form of Series #1 RealTokens and future series of RealTokens, being offered are highly speculative in nature, involve a high degree of risk and should be purchased only by persons who can afford to lose their entire investment. There can be no assurance that the Company’s business objectives will be achieved or that a secondary market would ever develop for the Interests, whether via the RealToken Website, via third party registered broker-dealers or otherwise. Investing in private placements requires high risk tolerance, low liquidity concerns, and long-term commitments. The Interests being sold are not FDIC insured, may lose value, and there is no bank or other guarantee.

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