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16171 Ilene St
16171 Ilene St
Detroit, MI 48221
About
Property originally listed for sale on the marketplace by Antoine Martel.
Click here to learn more about how third parties list their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
Single Family Home located in Detroit, Michigan.
Details
- Renovated in July, 2021
- New kitchen, new bathroom, new hardwood floors, new carpet on stairway, new front door, new blinds, new electrical outlets & switches, repaired steps to basement, new vinyl plank flooring in basement, repaired gutters, repaired siding, new outdoor step railing, repaired porch ceiling, straighten garage, new garage door, new driveway, new sewer line, interior & exterior paint.
- Remodeled home with 3 bedrooms and 1 bathroom
- Nice size living room with hardwood floors and a nice kitchen with new cabinets
- Large, fenced backyard and a 1-car garage
- Laundry room in the home Evernest is holding $3,544.61 in operating cash for this property to cover unpaid bills from other properties. The Operating Reserve balance reflects what it will be once the funds are released, since these funds are owed to the property. Once the outstanding bills are settled, the cash will be transferred. Learn more here.
Property Management and Insurance
- Managed by Whalec Property Management
- Insurance Policy through Obie Insurance
Occupancy Status
- Month-to-month lease at $1,450/month
- Tenant was previously on a 1 year lease (11/16/2022 - 11/16/2023)
- $1,300/month
- $1,300 Security Deposit
- $100 rent increase from the previous lease (different tenant)
- Lease Agreement
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Detroit, MI
Detroit, MI offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Governance Results for 16171 Ilene St:
The Governance Voting results are back for the owner proposed votes.
The winning vote is:
Pay $1,000 Flat - I approve compensating Alec VanBeek / Whalec Property Management LLC a flat $1,000.
This voting option was declared the winner in Round 3 with 725 token votes.
The voting results can be found on chain here or by searching the application ID: 3341146801
Investor Reviews
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Share price
16171 Ilene St
Detroit, MI 48221
About
Property originally listed for sale on the marketplace by Antoine Martel.
Click here to learn more about how third parties list their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
Single Family Home located in Detroit, Michigan.
Details
- Renovated in July, 2021
- New kitchen, new bathroom, new hardwood floors, new carpet on stairway, new front door, new blinds, new electrical outlets & switches, repaired steps to basement, new vinyl plank flooring in basement, repaired gutters, repaired siding, new outdoor step railing, repaired porch ceiling, straighten garage, new garage door, new driveway, new sewer line, interior & exterior paint.
- Remodeled home with 3 bedrooms and 1 bathroom
- Nice size living room with hardwood floors and a nice kitchen with new cabinets
- Large, fenced backyard and a 1-car garage
- Laundry room in the home Evernest is holding $3,544.61 in operating cash for this property to cover unpaid bills from other properties. The Operating Reserve balance reflects what it will be once the funds are released, since these funds are owed to the property. Once the outstanding bills are settled, the cash will be transferred. Learn more here.
Property Management and Insurance
- Managed by Whalec Property Management
- Insurance Policy through Obie Insurance
Occupancy Status
- Month-to-month lease at $1,450/month
- Tenant was previously on a 1 year lease (11/16/2022 - 11/16/2023)
- $1,300/month
- $1,300 Security Deposit
- $100 rent increase from the previous lease (different tenant)
- Lease Agreement
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Detroit, MI
Detroit, MI offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Governance Results for 16171 Ilene St:
The Governance Voting results are back for the owner proposed votes.
The winning vote is:
Pay $1,000 Flat - I approve compensating Alec VanBeek / Whalec Property Management LLC a flat $1,000.
This voting option was declared the winner in Round 3 with 725 token votes.
The voting results can be found on chain here or by searching the application ID: 3341146801
Investor Reviews
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Not paying rent right now
Right now this home's rent goes toward costs such as repairs, refilling the operating reserve, or covering a vacancy.
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$1,450.00
Monthly Rent
$1,450.00
Monthly Expenses
$0.00
Paid to investors
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.