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House in Hamtramck with Income Potential for $69.9K

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Photos via <a href="http://www.zillow.com/homes/for_sale/Hamtramck-MI/pmf,pf_pt/house_type/88471299_zpid/31931_rid/days_sort/42.413889,-83.014197,42.374652,-83.102775_rect/13_zm/">Zillow</a>
Photos via Zillow

Built in 1930, this home has a 2-bedroom main living space, and a second story with one bedroom, a kitchen and a bath. The listing doesn't call this structure two separate apartments—and bills the place as "single family." Perhaps zoning restrictions make listing it as a 2-flat not-kosher…or the new trend in remodeling 1930s homes is adding that much-needed upstairs second kitchen. Any way you view it, this home underwent an extensive remodel after selling in 2014 for $35K. Though this listing is new, the home has been on and off the market a few times since September, originally listing at the completely unrealistic price of $94,900, before being reduced to $74K a week later. Given the income potential and the (mostly) good remodeling choices, the home may finally have the right price point to to intrigue local buyers.
The house has a charming exterior, with its brick facade, neatly-kept front porch and pretty landscaping. Inside, the first floor has refinished hardwood floors, custom wood moldings, and a new kitchen with a vast (nearly overwhelming) amount of mosaic glass tile. The main bath is freshly updated with new vanity and tile work. While the upstairs hasn't had cosmetic updates, and has linoleum floors in the kitchen and carpet in the living space and bedroom, the space is immaculately clean, light-filled and inviting. Given Hamtramck's new cachet as an up-and-coming neighborhood full of interesting restaurants, shops and a thriving art and theater scene, and its extremely convenient proximity to downtown, this home could be a good investment with income potential. Or a 3-bedroom, 2-kitchen home for the family that likes cooking so much they simply must have two kitchens. - Rebecca Golden


· 3000 Holbrook St [Zillow]