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Just hit $5,000 per month in rent on a single Detroit duplex I own
Bought the place near Eastern Market back in 2018 for $45,000 and put maybe $20k into renovations. It just seemed impossible back then that a duplex in that area would ever bring in that kind of money. Any other small landlords seeing numbers like that in the city now?
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sanchez.pat9h ago
Well, I don't know. That number just sounds too good to be true for a duplex in Detroit. I remember when places near Eastern Market were going for nothing, and it seems like a lot of folks are cashing in on the hype now.
I'd be careful assuming that kind of rent is sustainable, especially with the economy the way it is. A lot of people are moving out of the city again, and vacancies are creeping back up in some neighborhoods. I guess it depends on exactly where you are and what condition the property is in, but five grand a month off a duplex is really something.
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reeseperez8h ago
Yeah, you know what, you actually make a solid point. I was way off on that.
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