ready-to-open

255 Poplar Street

Price
Listing Tags
Beds
6
Size
1900 sqft
Type
Single Family
255 Poplar Street

Overview

Set in the riverside community of Wyandotte, just south of Detroit, 255 Poplar Street is a fully renovated, move-in-ready single-family home offering six comfortable beds across roughly 1,900 square feet. With modern finishes throughout, updated mechanicals, and a warm residential feel, this Ready-to-Open home is ideally suited for a small, close-knit recovery community in a walkable, well-established neighborhood.

Lease and Income Structure

255 Poplar Street is a beautifully updated single-family home in the heart of Wyandotte, Michigan, a historic riverfront suburb known for its friendly, community-oriented character and easy access to greater Detroit. The home has been completely renovated and is ready to open, blending contemporary interior finishes with the durability of recently updated major systems, so residents can settle in from day one.

 

Inside, the layout provides six beds configured as two private beds and four shared beds, making it a good fit for an intimate house environment where residents can build accountability and support one another. At approximately 1,900 square feet, the home offers a balanced mix of shared living space and personal room, all within a single-family setting that feels like a genuine home rather than an institution.

 

Positioned in an established residential neighborhood with nearby amenities, parks, and transit access, 255 Poplar Street is offered at $2,000 per month with a $210 weekly rate per resident and a modest intake fee. Its manageable size, turnkey condition, and welcoming location make it a strong option for an operator looking to launch or expand a supportive housing program in the Detroit metro area.

Property Financials
Bed Data
Private Beds 2
Shared Beds 4
Total Beds 6
Vacancy Rate (estimated) 17%
Revenue-Producing Beds 5.00
Weekly Rent $210.00
Intake Fee $200.00
Revenue (Annual)
Total Potential Rent Income $65,520.00
Less: Vacancy & Loss $11,138.40
Plus: Intake Fee Revenue $2,000.00
Plus: Laundry Service Revenue $1,040.00
Total Revenue $57,422.00
Expenses (Annual)
Operating Expenses $10,954.00
Property Insurance $2,600.00
Operator Compensation $24,000.00
Valuation
Capitalization Rate 8.50%