3211 N FRANKLIN AVE $265,000

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    3211 N FRANKLIN AVE Flint, MI 48506

    Accepting Backup Offers
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    • 0 Beds
    • 5 Baths
    • 8,000 sq. ft.
    • Multi-Family
    • MLS# 40135865
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    Views: 28 Days On Site: 52

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    Property Details

    **BACK ON THE MARKET,***Fully occupied, easy-to-rent, 14 unit apartment building. Tenants pay all utilities after new in unit water meters installed in 2020, new gutters and downspouts installed in 2018, several units have all new appliances. Property management in place, or bring your own. Current NOI $44,316.00 with a cap rate of 16.7%. Room to increase rents to market and boost cap rate to 18%. Coin operated laundry brings in roughly $200/month. Offers encouraged. Please do not disturb tenants, contact the listing agent to schedule showings.

    • General Features
      • Acreage 0.32
      • Area Municipality Flint (25023)
      • COMMUNITY AMENITIES Pets-Not Allowed
      • County Genesee
      • Originating MLS RealComp
      • Ownership Private
      • Structure Style 1 Story
      • Subdivision MOTOR HEIGHTS SECOND SUB
      • Waterfront Y/N No
      • Year Built 1970
      • ZONING Multi-Family
    • Building Features
      • Exterior Construction Brick, Vinyl Siding
      • Foundation Type Slab
      • FUEL TYPE Electric
      • Heating System Baseboard, Electric Heat
    • Property Features
      • Roads Paved Street
      • Lot Size 220.00X64.00
      • Water Public Water
    • Schools
      • School District Flint City School District

    Contact

    Stephan Brochu

    Stephan Brochu

    Associate

    RE/MAX Grande

    Direct: 810-397-5343

    Neighborhood

    48506 (Flint) Demographics

    36 Median Age
    1,542 Population Density (per sq. mile)
    17% College Educated
    $35,820 Estimated Median Income
    7,441 Estimated Total Home Owners
    3,955 Estimated Total Renters
    65% / 35% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    29,168 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $55,650 Median Sales Price
    18 Homes Sold
    20 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $265,000
        2/12/2021 2:05:32 PM Status Changed Source New Value: Accepting Backup Offers
        2/5/2021 8:35:14 PM Status Changed Source New Value: Active
        1/14/2021 9:05:06 PM Status Changed Source New Value: Pending
        1/7/2021 7:35:00 PM New in Database Source New Value: $265,000

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Information is provided in part by the IDX program of the MI Realsource Michigan Multiple Listing Service. All information provided is deemed reliable but is not guaranteed and should be independently verified.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.