Your new Detroit property market report

August’s housing market figures are out.

And it has been another good month for property in Metro Detroit.

The median sales price is up 7.95% year-on-year.

It now stands at US$ 190,000.

That is up from US$ 176,000 in August 2017.

And in Wayne County (where most of our properties are located) prices rose 6.15%.

From US$ 130,000 to US$ 138,000.

Take a look for yourself…

2018 August Median Sales Prices in Metro Detroit, Michigan, USA

Sales were down 2.15%.

There were 6,053 last month compared to 6,186 in August 2017.

Meanwhile, inventory continues to fall.

You see, last month there were just 13,991 properties on the market – compared to 16,773 in August 2017.

That’s a decrease of 2,782 properties or 16.59%.

And it means there is only 2.77 months of inventory available at August’s sales pace.

On top of that, property is selling faster than ever.

It now takes just 27 days to sell a property in Detroit, on average.

That is 3 days less than in August 2017.

To summarise for you…

  • Median sales price up 7.95% in Metro Detroit
  • Median sales price up 6.15% in Wayne County
  • Sales down 2.5%
  • Inventory down 16.59%

These are all good signs the Detroit property market is getting stronger and stronger.

But although the median sales price in Wayne County is now US$ 130.000.

I can still offer you fully renovated, tenanted properties from just US$ 42,995.

And you will earn rental returns up to 17.20% net.

But the way the market is moving means your opportunity will soon be gone.

So if you would like to see what’s on offer – just reply to me.

Let’s have a quick look at a few that are available right now.

This one is on Kilbourne Street in Ravendale…

Kilbourne Street in Ravendale

Ravendale is a residential neighbourhood in East Detroit close to affluent Grosse Pointe and Harper Woods.

A lot of money has been spent regenerating this neighborhood over the last few years.

So there is high demand for rental property in this area and property prices are rising fast.

This property is 2km to the shops, banks and restaurants on Gratiot Avenue.

Plus, it’s next to Chandler Park, so tenants have access to the golf course, the waterpark and recreation.

This house has 4 bedrooms, 1 bathroom, a living room, a kitchen, a 770 sq. ft. basement and a 4,792 sq. ft. garden.

Your tenants are a husband and wife with 3 children aged 5, 7 and 11.

It is on offer for US$ 51,998.

Your monthly rent is US$ 900.

Your net yield is 17.09%.

That’s US$ 8,888 in your bank account every year.

Want full details?

Simply reply to me.

This place is on East Robinwood Street in Nortown…

East Robinwood Street in Nortown

Nortown is an established neighborhood in Northeast Detroit.

It is 15km from Downtown Detroit or a 19 minute drive.

Many people who live in Nortown work in Warren which is just a 10 minute drive.

This is because properties in Warren are at least 3 times the price of property in Nortown.

That means there is high demand for houses in Nortown and prices are rising fast.

This property is only 200 meters from high ranking Cornerstone School.

The shops, banks and restaurants on Seven Mile East are a 1 minute walk.

The house has 3 bedrooms, 1 bathroom, a living room, a kitchen, an 889 sq. ft. basement and a 4,356 sq. ft. garden.

It is on offer for US$ 44,995.

Your rent is US$ 750 per month.

Your rental yield is 16.45% net.

That’s US$ 7,404 in your pocket every year.

Want to know more?

Just reply to me.

This last one is on Nottingham Road in Denby…

Nottingham Road in Denby

Denby is in East Detroit next to affluent Grosse Pointe and Harper Woods.

A lot of money has been spent regenerating this neighborhood over the last few years.

Skinner Park was renovated at a cost of US$1,400,000 in August 2016.

It now has 2 basketball courts, a volleyball court, pickleball court and a mixed-use football and soccer field.

As a result it is popular with parents and children.

So there is high demand for rental property in this area and property prices are rising fast.

This property is 2.2km (1.3 miles) to Denby High School and Skinner Park.

And only a 5 minute walk to the shops, banks and restaurants on Morang Avenue.

This house has 3 bedrooms, 1 bathroom, a guest toilet, a living room and a kitchen.

There is also a 750 sq. ft. basement and a 5,358 sq. ft. garden.

This property is on sale for US$ 47,995.

Your rent is US$ 750 per month.

Your net return is 15.87% – after all expenses.

That’s US$ 5,358 in your hand every year.

If you’d like to know more – simply reply to me.

Remember all our USA investment properties are:

  • Fully renovated – average cost of works US$ 20,000
  • Freehold with full warranty deed
  • Already tenanted with pre-screened tenants – you get paid from day one
  • Professionally managed – your rent is paid on time into your own bank account

I won’t offer you unrealistic guarantees which can’t be fulfilled, like some people I could mention.

But I do promise you…

  • Your vacancy rates will be very low (last 3 years 3.58% average)
  • You will always get paid what you are due
  • I will stay right by your side for as long as you own your property
    It doesn’t matter if it’s 3 months or 30 years – if you have a problem I’ll be here to help.

Because I know that if you get the returns you are expecting you’ll come back for more.

You might even refer your friends and family, if I’m really lucky.

And unlike many of my competitors I don’t charge you a finder’s fee, an enabling fee or an arrangement fee.

In fact I don’t charge you any fees at all.

So if you would like full details of what’s on offer in Detroit – just reply to me.

Best,

Rebecca

Copyright OVG Invest Co. Ltd. 2009 - 2019
Email: info@ovginvest.com
Tel: +852 3101 7075 - Fax: +852 3101 7076
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