12260 Wayburn Street

About this home

Attention investors, don't miss this excellent investment opportunity! This bungalow is ideal for investors looking to expand their portfolio. Conveniently located with easy access from Moross Road. Currently tenant occupied, long term tenant (30 years living in the property), the tenant is paying $1,025 a month on a month-to-month lease. Tenant is current and the property has a Certificate of Occupancy as a rental property. This is a very unique property with a half bathroom in the firstst floor and a family room. Schedule your showing today! PLEASE DO NOT DISTURB TENANTS. B.A.T.V.A.I. All measurements are estimated.

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Detroit

Over the last 90 days, 1,214 homes sold in Detroit for a median of $99,950, about $71 per square foot, and the typical one went under contract in 29 days. This home is listed at $65,000, or $58 per square foot, 18% below the city median, and has been on the market 1 day. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Detroit sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $2,092 a year. A buyer who lives here would pay about $1,469 to $2,107 a year once the taxable value resets after the sale, at the 2025 homestead rate of 64.18 mills for Detroit City and Detroit 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

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