16701 Tuller Street

Beds
1,067 Sq. Ft.
$127 / Sq. Ft.
1,067
Sq. Ft.
$127
per Sq. Ft.

Description

Welcome to 16701 Tuller Street, a beautifully renovated duplex located in the heart of Detroit, MI. This property has been meticulously upgraded from top to bottom, making it an ideal turnkey investment opportunity for buyers looking for immediate cash flow and solid returns. Priced at just $134,900, this 4-bedroom, 2-bathroom home offers tremendous value with an above-average 9.73% CAP rate. Key Features: - Fully Renovated in October 2024 – Enjoy peace of mind with new plumbing, two brand-new...Welcome to 16701 Tuller Street, a beautifully renovated duplex located in the heart of Detroit, MI. This property has been meticulously upgraded from top to bottom, making it an ideal turnkey investment opportunity for buyers looking for immediate cash flow and solid returns. Priced at just $134,900, this 4-bedroom, 2-bathroom home offers tremendous value with an above-average 9.73% CAP rate. Key Features: - Fully Renovated in October 2024 – Enjoy peace of mind with new plumbing, two brand-new hot water heaters, updated electrical systems, and fresh paint throughout both units. - Modernized Kitchens & Bathrooms – Both units have updated kitchens and bathrooms, featuring new flooring, cabinetry, and fixtures. - Income-Generating Property – The upper unit will be rented for $650/month to a reliable tenant whose rent is covered by The Michigan State Housing Development Authority through December 2024. The lower unit is rented for $1,175/month, bringing total monthly rental income to $1,825. Tenants are responsible for all DTE utilities and partial water. - High ROI Potential – With stable tenants in place and minimal maintenance required after the renovations, this property offers an incredible investment opportunity with a 9.73% CAP rate, ensuring strong returns on your investment. Assuming a 15%-20% down payment on an investment property loan and today's interest rate, the monthly mortgage payment would be roughly $879. Property monthly rental income is $1,875. - New 6ft Privacy Fence – The fully fenced-in yard provides added privacy and security for tenants, enhancing the overall value of the property. - Two New Hot Water Heaters, New Windows, Updated Furnace – Both units are fitted with some new windows and an updated furnace, ensuring energy efficiency and comfort for tenants year-round. This property is legally zoned as a duplex but can easily be converted into a spacious single-family home, adding even more versatility for future owners.
  1. Listed by Elijah Cook • KW Metro
    P: (313)-694-6970 C: (313)-694-6970 ecooktherealtor@gmail.com

Property Details for 16701 Tuller Street

Subdivision Name
THE GARDEN ADDITION NO 2 (PLATS)
Has Waterfront
No
Zoning Description
Multi-Family
LISTING CLOSED: 12/19/2024 12:00 AM

Property Details for 16701 Tuller Street

StatusClosed
MLS #60347330
Days on Market23
Taxes$978 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1926
Lot Size0.07 AC / 3,049 SF
CountyWayne County

Location

Listing Courtesy of KW Metro

Sold By LPS

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Building Information for 16701 Tuller Street

Stories-Residences2Year Built1926Building Size-Lot Size0.07 AC / 3,049 SF

Payment Calculator

$759 per month

30 year fixed, 6.36% Interest

Principal and Interest

$678

Property Taxes

$82

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 16701 Tuller Street

Summary
Location and General Information
  • Cross Street: W Mc Nichols & Livernois
  • Directions: West of Livernois South of Mc Nichols
  • Latitude: 42.415086
  • Longitude: -83.148314
  • MLS Area Major: Detroit (82001)
Taxes and HOA
  • Parcel Number: W16I026955S
  • Tax Annual Amount: $978.00
Property
Lot Information
  • Frontage Length: 30.0
  • Lot Size Acres: 0.07
  • Road Surface Type: Paved
Property and Assessments
  • Above Grade Finished Area: 1067.0
  • Building Area Total: 1067.0
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1926
Building Features
  • Construction Materials: Brick
Utilities
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available
Interior and Exterior Features
Interior Features
  • Appliances: Gas Water Heater
  • Has Basement: Yes
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Has Fireplace: No
  • Heating: Forced Air, Natural Gas
  • Has Heating: Yes
  • Water Heater: Gas
Multi Family
Multi Family Information
  • Number Of Units Total: 2

Property History for 16701 Tuller Street

DateEvent & SourcePriceAppreciation
Dec 19, 2024

Sold (Public Record)

Public Record #1549358347

$136,000

+1170.9% / yr

Dec 19, 2024

Sold

MiRealSource #60347330

$136,000
Nov 6, 2024

Contract Signed

MiRealSource #60347330

DateEvent & SourcePrice
12/19/2024

Sold (Public Record)

Public Record #1549358347

$136,000

+1170.9% / yr

12/19/2024

Sold

MiRealSource #60347330

$136,000
11/06/2024

Contract Signed

MiRealSource #60347330

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 16701 Tuller Street

Taxable ValueLand-Additions-Total-
Tax Record2023$979 ($82 / month)
Home Facts
Beds4Baths1Total Finished SqFt1,280 SqFtAbove Grade Finished SqFt1,280 SqFtStories1Lot Size3,049 SqFtStyleSingle Family ResidenceYear Built1926ZoningR1CountyWAYNEAPN16026955.

Schools near 16701 Tuller Street

This home is within Detroit Public Schools Community District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - PK to 8
Public - PK to 8
Public - PK to 12
Rating
School
Distance
Bates Academy
PublicPK to 8

Detroit International Academy For Young Women
PublicPK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of KW Metro

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