Buy&Hold (Turnkey Rental): 20931 Pickford St, Detroit, MI, 48219 + $75,000
- Promise Land Realty
- 7 days ago
- 5 min read
Single Family Investment Opportunity
Price
$75,000
OFF-MARKET INVESTMENT OPPORTUNITY
20931 Pickford St, Detroit, MI 48219
Asset Type: Single-Family Residential Investment
Bedrooms/Bathrooms: 3 Bedrooms | 1 Bathroom
Building Size: Approx. 1,000+ SF – Buyer to Verify
Asking Price: $75,000
Estimated ARV: $110,000
Estimated ARV Range: $100,000–$120,000
In-Place Rent: $1,000/Month
Annual Gross Scheduled Rent: $12,000
Transaction Structure: Assignment of Contract
INVESTMENT OVERVIEW
Offered exclusively on an off-market basis, 20931 Pickford St presents an opportunity to acquire an updated, tenant-occupied single-family asset in Detroit's 48219 submarket at an attractive basis relative to estimated stabilized value.
The property is currently occupied by a tenant paying $1,000 per month, providing immediate in-place revenue from acquisition. The tenant has reportedly occupied the property for approximately two years and would prefer to remain, creating a straightforward opportunity for an investor seeking a performing rental asset.
For investors pursuing a value-add or disposition strategy, the tenant has also indicated a willingness to vacate if necessary, providing flexibility to execute a renovation program and reposition the asset.
PROPERTY & INVESTMENT HIGHLIGHTS
3-bedroom, 1-bath single-family residence
Approximately 1,000+ SF; buyer to independently verify
Updated property with additional value-add potential
In-place tenant generating $1,000 per month
Approximately $12,000 in annual gross scheduled rent
Approximately two years of tenant occupancy
Flexibility to retain the existing tenant or pursue vacant possession
Attractive acquisition basis at $75,000
Estimated stabilized/renovated value of approximately $110,000
Multiple viable exit strategies
Assignment of contract transaction
VALUATION & UPSIDE
Based on available neighborhood sales activity and the anticipated value of the property in renovated condition, the estimated after-repair value is approximately $110,000, with an estimated range of $100,000 to $120,000, subject to final condition, renovation scope, comparable sales, and prevailing market conditions.
At the $75,000 asking price, the acquisition basis represents approximately 68% of the estimated $110,000 ARV, prior to renovation costs, closing costs, financing expenses, holding costs, and disposition expenses.
This basis provides an investor with the ability to evaluate the property from both a yield-oriented rental perspective and a value-add/resale perspective.
IN-PLACE INCOME
Monthly Rent: $1,000Annual Gross Scheduled Rent: $12,000Asking Price: $75,000Gross Rent-to-Price Ratio: Approximately 16.0%
The existing tenancy provides immediate revenue while allowing a purchaser to determine the optimal long-term business plan for the asset. Investors should independently underwrite taxes, insurance, maintenance, management, utilities, vacancy, capital expenditures, and other operating expenses when determining projected NOI and yield.
POTENTIAL BUSINESS PLANS
Buy & Hold: Acquire the property with the existing tenant in place and continue operating the asset as a long-term rental.
Value-Add Rental: Maintain the asset as a rental while implementing strategic improvements and evaluating future rental upside consistent with market conditions and applicable lease requirements.
Renovate & Resell: Pursue vacant possession, execute an appropriate renovation scope, and reposition the property for resale based on renovated comparable sales.
INVESTMENT THESIS
20931 Pickford offers an investor the ability to acquire a performing residential asset at a relatively low entry basis while retaining optionality between cash-flow preservation and value creation.
The combination of existing rental income, an established tenant, a $75,000 acquisition price, and potential upside toward an estimated $110,000 stabilized value makes the property particularly relevant for local landlords, value-add investors, and smaller residential portfolio operators seeking additional Detroit exposure.
PHOTOS & VIDEO
Full property photos and video:
OFFERING TERMS
Asking Price: $75,000
Transaction: Assignment of Contract
Property Status: Tenant Occupied
Please do not disturb the tenant. Property access should be coordinated in advance.
Serious inquiries only. Proof of funds may be required prior to property access and/or acceptance of an offer.
All property information, including but not limited to square footage, rental income, tenancy, property condition, taxes, ARV, repair requirements, and projected investment returns, should be independently verified by the purchaser as part of its due diligence. ARV is an estimate only and is not a representation or guarantee of future market value.
Contact us for additional due diligence information, showing availability, or to submit an offer.
Property Map
TEAM PROMISELAND DISCLAIMER: No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors & Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.
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PROMISELAND DISCLAIMER:
Promiseland Realty LLC is a nationwide real estate consulting firm specializing in off-market investment opportunities, strategic acquisitions, and real estate advisory services.
No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of an accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors and Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.
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