19416 Winston St

19416 Winston St

Available: 293 tokens at $43+

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Min Investment
$48
Location
Detroit, MI
Projected Return
11.96%
Valuation
$113,274

Company Description

This property is a fully renovated 3 bedroom 1.5 bathroom single family home located in a trending neighborhood of Detroit.
The following renovations have been completed: New kitchen, updated bathroom, new vinyl plank flooring, new carpet in bedrooms, scraped & painted 13 wood windows, new blinds, 8 new interior doors, new door hardware, realigned storm door, new backdoor steps, new backdoor landing, removed porch, secured porch pillars, new soffits & gutters, new plumbing, new electrical, interior & exterior paint.
The resident is on a 1 year lease until 10/07/2022 and is paying $1,200/month.

Updates:

Update 8/10/2022: The tenant has an outstanding balance and has told the Property Manager that they have applied for rental assistance, though they have not provided proof yet. The Property Manager had previously filed an eviction in order for the tenant to be more likely to be approved for rental assistance (CERA). The PM will not cancel the eviction that was started last month until the tenant begins making payments. There is no payment plan currently set up and the PM has said that the tenant has been making empty promises on payments, so they recommend moving forward with the eviction. The court date is set for 9/26. As mentioned previously, there was a miscommunication issue with the PM of this property, Zest PM. This was caused by the negligence of one of the PM's employees that was previously managing all Lofty properties in Detroit. This employee is no longer managing any Lofty properties (or working with Zest), and Zest has another PM in charge of Lofty properties who has been exceptional to date. Because of this miscommunication and delay regarding the delinquency status of this tenant, Lofty will be providing a full rental credit until the rent is paid in full for this property again.
Amount Raised : $0
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