100631 . 26 Home SFR Detroit MI - Availability Details
100631 . 26 Home SFR Detroit MI, Detroit, MI 48180
- For Sale $2,898,000
- City Detroit
- Neighborhood Taylor
- Zip Code 48180
- Market Detroit
- Property Type Multi-Family
- Property Size 26,426 Sqft
- Lot Size 3.22 Acre
- Date Updated 07 Apr, 2021
Detroit is the largest and most populous city in the state of Michigan and has an estimated population of 670,031 people, according to 2019 U.S. Census data. The city is located on the United States-Canada border, and at the seat of Wayne County. It is a major port on the Detroit River, one of the four major straits that connect the Great Lakes system to the Saint Lawrence Seaway. The Detroit metropolitan area, often referred to as Metro Detroit, is home to 4.3 million people, making it the second largest in the Midwest after the Chicago metropolitan area. Upon Henry Ford's creation of the assembly line in 1910 in Highland Park, mass production was revolutionized and catalyzed Detroit’s growth and industrialization. Thanks to the accessibility of the Great Lakes and railways, automobile producers were able to refine their industry and elevate Detroit from a second-tier industrial city to a world-class city. This earned Detroit the nickname, the Motor City or Motown. It is still home and headquarters to the “Big Three” automobile manufacturers General Motors, Ford, and Fiat Chrysler. Today, Metro Detroit has a workforce of about 2.6 Million, over 347,000 businesses, and a Gross Metropolitan Product of $200.9 billion. Detroit's economy is far more diverse today and features growth in sectors such as real estate, finance, information technology, research, healthcare, biomedical, trade, transportation, tourism, retail, and media. According to the Detroit Regional Chamber, Detroit's largest employers include the “Big Three”, Beaumont Health, Henry Ford Health System, Ilitch Companies, Trinity Health Michigan, and its major universities. Metro Detroit is home to many universities including Wayne State, University of Michigan - Dearborn, and University of Detroit Mercy. Detroit's automotive heritage has played a large role in shaping the culture of the Motor City. Music has been at the heart of its cultural export and nightlife since the late 1940s. The pride of Detroit's music history is the success of Motown Records during the 1960s and early 1970s. The record label popularized recording acts including Marvin Gaye, Stevie Wonder, Diana Ross, and The Supremes. Detroit still stays true to its roots with its Jazz and Motown themed entertainment. The Detroit Institute of Arts is world famous for its Diego Rivera Detroit Industry Murals. The motor city also features very diverse dining and nightlife experiences thanks to its rich multicultural population.read more read less
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SVN | SFRhub Advisors
- For more information, please visit www.SFRhub.com and search for portfolio 100631
- Average rent in portfolio of $984 is 10% below current market rents of $1091
- Detroit is primarily a renters market with over 46% of households renting
- Over 65% 3 bedrooms, which is an ideal mix for today’s renters as well as families.
- Rents in Detroit have increased by 16% year-over-year.
- Over the past three years average rents in Detroit have grown by nearly 23%.
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SVN | SFRhub Advisors