2241 Vermont St, Detroit, MI 48216

Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $217 per day and long-term for an average of $2,189 per month, based on similar listings in the area. Estimated short-term cap rate of 10.6%. Estimated long-term cap rate of 4.0%. Historic Corktown Workers Cottage. In one of Detroit's hottest communities. The last property available. Very few sales in this area. Walking distance to the Ford Michigan Central Station (about 900 feet). Across the street from the Ford Corktown Information Center. Walking distance to where the new Detroit City Football Club Stadium will be constructed. Walking distance to restaurants and entertainment. 9'10" ceilings. Requires complete rehab. We can assist in finding reconstruction loans and project management. We highly recommend Michael oGordon from MGA Architects to design a million dollar property. A partner was going to renovate the property but is booked with other projects for several more years. We intended to tear down the newer rear addition, pickup the whole house and put a new full basement under it (with very high ceilings). Replace the removed portion with a new entertainer's kitchen, chef's kitchen, master suite and garage. Buyer's Agent to verify all information. Buyer to pay $595 Doc Fee. Motivated seller.