LAND CONTRACT TERMS: $230,000 DOWN 7% AMORTIZED OVER 30 YEARS, BALLOON BALANCE AFTER 5 YEARS....Excellent investment opportunity in the heart of Romeo just walking distance to vibrant downtown shops, restaurants, and community events. This well-maintained 4-unit multi-family property features two spacious 1-bedroom, 1-bath units, including two main-level units and two upper studio units. Two of the units offer full basements for additional storage and functionality. All units are occupied by long-term tenants, providing immediate and stable cash flow. Current gross monthly income is $3,475 with strong upside potential, as market rents could support income exceeding $4,000 per month. The property offers plenty of on-site parking to accommodate all occupants. The owner currently pays water, a small common electric bill, gas, lawn care, and snow removal. The roof is newer, and the building has been consistently well maintained, contributing to excellent tenant retention. To avoid disturbing tenants, showings will be scheduled upon an accepted offer only.
Romeo is located in Michigan. Romeo, Michigan has a population of 3,729. Romeo is less family-centric than the surrounding county with 27.13% of the households containing married families with children. The county average for households married with children is 28.44%.
The median household income in Romeo, Michigan is $53,845. The median household income for the surrounding county is $67,828 compared to the national median of $69,021. The median age of people living in Romeo is 47.6 years.
The average high temperature in July is 82 degrees, with an average low temperature in January of 14.4 degrees. The average rainfall is approximately 33.4 inches per year, with 35.4 inches of snow per year.
