15597 Norway Street

About this home

Excellent investment opportunity featuring 3 total rental units on one lot. The front property consists of two separate units, each offering 2 bedrooms and 1 full bathroom, while the rear single-family home features 3 bedrooms and 1 full bathroom. Unit 1 was just leased this September/October. Unit 2 is tenant-occupied and currently rents for 750/month. The rear home, Unit 3, is occupied by a long-term tenant of more than 10 years and currently rents for 650/month. Recent improvements include a new roof and new porch completed in August 2026. With multiple units, existing rental income, and additional income potential from the vacant unit, this property offers a great opportunity to add to an investment portfolio. Schedule a showing today! BTVAI

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Monroe

Over the last 90 days, 170 homes sold in Monroe for a median of $225,000, about $149 per square foot, and the typical one went under contract in 10 days. This home is listed at $249,900, or $25 per square foot, 83% below the city median, and has been on the market 67 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Monroe sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $3,130 a year. A buyer who lives here would pay about $1,934 to $3,624 a year once the taxable value resets after the sale, at the 2025 homestead rate of 28.71 mills for Monroe Twp and Monroe 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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