Look at attached flyer for "7579 Chrysler Dr, Detroit, Mi. Assume you have to invest $10,000 for each unit and that fixed and variable expenses are 40% and no vacancy. What must monthly income be to achieve 12% capitalization rate?

 

CHRYSLER DRIVE 7579 Detroit 11 UNITS | 11 BATHROOMS | 7,590 SQ FT 11 Units Just North Of Midtown Detroit Endless Possibilities Partially Renovated 11 Unit Building Spots Gated Lot AB Units Have Covered Exterior Space Location Is Everything Arts & Cultural Area New Construc- tion Neighborhood Near WSU.Detroit Institute Of Arts.Col- lege For Creative Studies.Detroit Medical Center.Detroit Sc- ence Center.Children's Hospital.Charles H Wright Museum New Construction All Around You Steps Away From QLine Baltimore Station Additional Property Included Milwaukee Junction North End Midtown Perfect For First Time Inves- tor $399,000 Call Jodee Gibson MLS#217110003 Text R856452 to 52187 10+ Covered Parking HIEE F