Acquired
Sept 2024
How Great Lakes PMG took a Detroit property from purchase to a $24,000 gain, with $15,250 in rent collected along the way, in well under two years.
In September 2024, an investor acquired 72xx Artesian, a single-family home on Detroit's west side, for $30,000. Like most homes at that price, it needed a full renovation before it could collect a dollar of rent.
The owner wanted a Detroit rental that performed without the operational burden. Great Lakes PMG handled the renovation, placed a tenant, and has managed the property since, taking it from a $30,000 purchase contract to a performing, income-producing asset in a matter of months.
Actual figures from the purchase, the renovation invoices, and the rent ledger across the full 1.67-year hold.
| Purchase priceAcquired · September 2024 | $30,000.00 |
| Initial renovationFull rehab to rent-ready condition · 2024 | $13,083.16 |
| Repairs & turns sinceService requests & upkeep · 2025–2026 | $2,979.53 |
| Total Cash Invested | $46,062.69 |
| Rent collectedCurrent tenancy · Dec 2024–present | $15,250.00 |
| Current market valueRenovated, occupied, income-producing | $55,000.00 |
| Total Value Realized + Held | $70,250.00 |
This deal is less than two years old, yet the total return, counting the home the owner still holds, is already firmly positive, before assuming a dollar of market appreciation.
The hold here is short, just 1.67 years, which makes any annualized figure swing high. The steadier read is the cumulative 52.5% total return and the 1.53× on every dollar invested, achieved before this property has even seen its second tenant.
Disciplined tenant screening and active local management placed a tenant within weeks of the renovation and have kept the home rent-current ever since.
| Tenancy | Period | Duration | Rent Collected |
|---|---|---|---|
| Household 1 · current | Dec 2024 – present | ~17 months | $15,250.00 |
| Total Rent Collected | $15,250.00 | ||
In roughly 17 months the property has collected $15,250 in rent, roughly a third of the entire capital invested, from a single, still-current tenancy.
Detroit's long market recovery turned its single-family housing stock into one of the most accessible cash-flow opportunities in the country, for investors who pair a low entry price with a team that can execute on the ground.
The $30,000 purchase opened the deal. The four things below made it perform.
Great Lakes PMG helps investors acquire, renovate, and manage cash-flowing Detroit rentals, start to finish. This is just one of 800+ real-estate deals we have managed over the past 20 years.
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