30 Home SFR Investment Portfolio Roseville MI

Listing was updated at: 12/10/2019
Property Overview
Price/Rent PSF $ 2,300,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 26,031
Date Available 12/10/2019
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Located just northeast of Detroit, Roseville is a city in Macomb County in the US State of Michigan and is part of the Detroit MSA. In 2017, the estimated population for Roseville was 47,501 residents. While most of the city is fully-developed, a proactive approach to attracting and retaining businesses over the years has led to a huge reinvestment and expansion of already existing properties. Roseville is incredibly diverse in people as well as job opportunities, people living in Roseville work in an office and administrative support are at 16.82%, sales jobs is 9.08% of residents, and the food service area employs 8.08%.

As for Detroit, this city is located in the southeast portion of the state of Michigan. Detroit has a population 673,104 people and 297 constituent neighborhoods, Detroit is the largest community in Michigan. Detroit is world-known for being the birthplace of Motown Records, whose chart-topping history is on display at their original headquarters, Hitsville. Not only this, but near Downtown Detroit, the neoclassical Detroit Institute of Arts is highly famed for the Detroit Industry Murals painted by Diego Rivera, and inspired by the city’s ties to the auto industry, giving it the nickname "Motor City." The Detroit area resident has an average annual salary of $50,960 with a median monthly rent of $866. Detroit is home to a plethora of economic variables such as real estate, finance, information technology, higher education and research, healthcare and biomedical, manufacturing and industry, trade, transportation, tourism, retail, and media. All of these make-up around 347,000 business, a workforce of 2.6 million, this including the whole metropolitan area surrounding and including Detroit.

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This 30 Home SFR Investment Portfolio opportunity located in Roseville Michigan offers an investor immediate cash flow in the outer Detroit market. This 30 Home SFR Investment Portfolio can be packaged for an investor with any of our other portfolios in Michigan as well as throughout the country. The average vintage of homes in this portfolio is 1946 and offers square footage of around 868 sqft per home. There are 4 - 1 bed / 1 bath homes, 10 - 2 bed / 1 bath homes, 15 – 3 bed / 1 bath homes and 1 - 4 bed / 1 bath homes. These well laid out floor plans range from 375-1344 livable square feet, averaging 868 SF in total. Rental rates throughout the portfolio are 4% below market rates, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors bottom line over the years. Renters occupy 37% of Roseville's housing market. Average market rent in Roseville is also at $1000 which is 9% higher than the average rent of $913 in this portfolio, showing the potential for increased profits by increasing rents to market rates.

Single-family detached homes are the single most common housing type in Roseville, accounting for 74% of the city’s housing units. Almost 37% of the population is renting in Roseville. NeighborhoodScout’s data show that appreciation rates are so strong in Roseville that despite a nationwide downturn in the housing market, Roseville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Roseville appreciation rates continue to be some of the highest in America, at 7.72%, which is higher than appreciation rates in 80.53% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Roseville. Roseville appreciation rates in the latest quarter were at 2.90%, which equates to an annual appreciation rate of 12.11% and is higher than 90% of the other cities and towns in Michigan. The median home value in Roseville is $100,700. Roseville home values have gone up 16.7% over the past year and are predicted to rise 14.6% within the next year making this a great investment opportunity.