649 Van Dyke St Detroit
Investment Opportunity

Property Name

649 Van Dyke St Detroit Slide 4
Featured Deal

Another Property Name

Targeted Investment

$110,000

Annualized Return

33%

Targeted Return

$18,150

Total Payout

$128,150

Targeted Exit

6 Months

Investment Overview

1532 Atkinson St is an investment opportunity in the historic Boston-Edison neighborhood of Michigan. Known for its beautiful mansions and connection to auto magnates, Boston-Edison is experiencing rising property values and increasing appeal. With spacious homes, an aging population, and easy access to healthcare, this property makes for an ideal adult foster care site. The property is a two-story, single-family home with a basement, recently acquired by the sponsor with renovations 75% complete, with the intent to be used as an adult foster care site. The property offers secure stable income through private insurance payments and long-term leases from residents. Additionally, we have a pipeline of qualified residents ready to occupy the building, positioning the property for immediate cash flow upon completion.

Targeted Investment

The sponsor seeks $106,000 in working capital at 33% annualized interest with a 6-month exit, 2 months’ deferred interest, repayment over the next 4 months from refinance proceeds and operating cash flow, and boasts an 800 FICO score.

Use Of Funds

$36,000   Renovation Balance

$20,000   Theft of Materials Reimbursement

$50,000   Furniture & Equipment

Exit

Refinance within 30 days post renovation completion. Upon completion, the property is expected to have an estimated $150,000 in gross equity.

Property Information

Location Boston Edison, Michigan
Building units 1 unit, 2 Stories With Basement
Building size 2,461 Sqft
Execution Plan
Renovation Status 75% Completed
Exit Refi @ 75% LTV Within 30 Days
Financial Overview Proforma
Renovated Value $450,000
Senior Debt $204,000
New Investment $106,000
Gross Payoff $310,000
Investment Return $20,000
Total Payoff $330,000
Gross Equity $150,000
LTV (Loan-to-value) 73%
Security/Collateral Second Lien, UCC

Neighborhood Overview | Boston–Edison | Michigan

Designed by architect Edward Voight and located just a few miles north of downtown Detroit, the historic Boston Edison district stands as one of the city’s most prestigious residential neighborhoods. Celebrated for its stunning collection of stately mansions, the area has long been home to prominent figures, including automotive pioneer Henry Ford and baseball legend Ty Cobb. Among its most famous landmarks is the Motown Mansion, a grand Italianate estate constructed in 1917 that once housed music industry titan Berry Gordy.

Train
Train Hamilton & Chicago
Bus
Bus Rosa Parks & Edison
Airport
Airport Windsor International
Train
Train Lodge Service Dr & Edison

The Context

Boston–Edison is a historic neighborhood undergoing the classic evolution seen in gentrifying districts across major U.S. cities—think Harlem, Brooklyn, or Logan Square (Chicago).


As Detroit experiences a cultural and economic revival, Boston–Edison is quickly transitioning from undervalued to desirable, with housing demand outpacing supply.

Why the $450,000 Price Makes Sense

1. Revitalization = Price Realignment

Like other “flip” neighborhoods, prices in Boston–Edison appear sporadic — but that’s typical in a transitioning market.

  • In 2023, comps sold around $280K–$380K. E.g. 874 Edison St sold for $280k
  • In 2024, listings now regularly exceed $400K+, with restored homes pushing $500K+.
  • 1532 Atkinson is positioned at the next logical tier in the value curve: a well-maintained, classic home reflecting both scarcity and historic significance.

2. The $5 Billion Catalyst

  • Detroit is in a transformative resurgence, with over $5 billion committed to infrastructure, housing, and commercial development citywide. Major initiatives include transit upgrades, affordable housing projects, and the redevelopment of long-blighted corridors.
  • In 2024, Apple announced an innovation hub in Detroit as part of its Racial Equity and Justice Initiative, deepening its investment in local talent and the city’s growing tech ecosystem. This follows similar commitments by Google, Microsoft, and Ford’s mobility campus, signaling a broader shift in Detroit’s economic narrative.

3. Strategic Location & Urban Spillover Effects

Boston–Edison is located within minutes of Midtown, New Center, and Downtown—Detroit’s fastest-revitalizing zones. As these areas become increasingly dense and expensive, buyer demand is spilling into adjacent neighborhoods. Boston–Edison’s proximity to cultural landmarks, employment hubs, and top-tier healthcare (Henry Ford Hospital, DMC) gives it a significant advantage in the market.

4. Buyers Are Paying for Vision

  • Savvy homeowners understand that in historic districts like this, early entrants benefit the most. Restored homes in this area are in limited supply, rich in character, and poised to appreciate more quickly as the neighborhood continues to revitalize.
  • As more capital flows into Detroit and demand for quality housing increases, Boston–Edison stands out — not just for its history, but for its future.

$450,000 Reflects The Future, Not Just The Past

1532 Atkinson is not just priced on yesterday’s distressed sales — but on tomorrow’s market routed in: futuristic value, strategic location, a rising tide of public/private investment, and a proven neighborhood evolution story.

Active Listing Comparison

$525,000

5 bds | 3 ba | 3,960 sqft – House for sale

2054 Edison St, Detroit, MI 48206

BPO PROS LLC

$525,000

5 bds | 3 ba | 3,960 sqft – House for sale

2054 Edison St, Detroit, MI 48206

BPO PROS LLC

$525,000

5 bds | 3 ba | 3,960 sqft – House for sale

2054 Edison St, Detroit, MI 48206

BPO PROS LLC

$525,000

5 bds | 3 ba | 3,960 sqft – House for sale

2054 Edison St, Detroit, MI 48206

BPO PROS LLC

Sales Comparison

Address Building sqft Price/sqft Property class Sale date Sale price Time held Zoning
10 Spencer Pl 3040 $299 C0 8/25/2021 $590,000 1mo R6B
10 Spencer Pl 3040 $299 C0 8/25/2021 $590,000 1mo R6B
10 Spencer Pl 3040 $299 C0 8/25/2021 $590,000 1mo R6B
10 Spencer Pl 3040 $299 C0 8/25/2021 $590,000 1mo R6B
10 Spencer Pl 3040 $299 C0 8/25/2021 $590,000 1mo R6B
Average 3040 $299 C0 8/25/2021 $590,000 1mo R6B
Address Building sqft Price/sqft Property class Sale date Sale price Time held Zoning
Lorem ipsum 1090 $299 C0 8/25/2021 $1,090,000 1mo R6B
Lorem ipsum 1090 $299 C0 8/25/2021 $1,090,000 1mo R6B
Lorem ipsum 1090 $299 C0 8/25/2021 $1,090,000 1mo R6B
Lorem ipsum 1090 $299 C0 8/25/2021 $1,090,000 1mo R6B
Lorem ipsum 1090 $299 C0 8/25/2021 $1,090,000 1mo R6B
Lorem ipsum 1090 $299 C0 8/25/2021 $1,090,000 1mo R6B

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