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Duplex - Detroit, MI
Welcome to 3000 Cortland, a fully occupied rental collecting $2,000/month (19.1% cap rate - 128% cash on cash), with a month to month tenant in the upper, and a new tenant moving into the lower as of November 1 paying $800/month to month. The upper unit's attic has been converted to additional living space allowing for an easy rent increase. As you drive the street, you'll see a flurry of homes being renovated, with renovated units selling well beyond $200,000. This is a great option to house hack, to BRRR, or to make a quick flip.
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