627 N Adams
Ypsilanti, MI 48197
Single Family Residence · MLS # 81026049209 · Listing courtesy of Good Company
About this home
A rare opportunity to add a proven performer to your portfolio. This well-maintained 4-bedroom home is currently leased to excellent long-term tenants through August 31, 2027, generating $2,140/month -- making this a true turnkey investment from day one. This property has been a strong, low-hassle income generator for its owners, who are selling only due to a shift in portfolio strategy -- not performance. Buyers benefit from immediate cash flow, established tenants, and no lease-up period. Unbeatable location just minutes from Eastern Michigan University, downtown Ypsilanti, and the shops and restaurants of Depot Town, with easy access to nearby expressways for commuters. Showings are subject to tenants' rights -- 48 hours notice required. Seller is a licensed agent in the State of Michigan.
Interior
Systems and utilities
Exterior and lot
Taxes, HOA and more
Schools
How it compares in Ypsilanti
Over the last 90 days, 215 homes sold in Ypsilanti for a median of $300,000, about $182 per square foot, and the typical one went under contract in 15 days. This home is listed at $250,000, or $176 per square foot, 3% below the city median, and has been on the market 42 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Ypsilanti sales or ask us for the comparable sales on this one.
Property taxes for a new owner
The current owner pays about $6,594 a year. A buyer who lives here would pay about $5,273 to $7,991 a year once the taxable value resets after the sale, at the 2025 homestead rate of 63.29 mills for Ypsilanti City and Ypsilanti schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.
Monthly payment estimate
Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.
Location
Similar homes in Ypsilanti
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