156 Burke Street

About this home

NOW FULLY OCCUPIED! Priced to SELL and an excellent addition to any investment portfolio or live in one unit while generating rental income from the other! The upper unit features 2 bedrooms and 1 bath rental income of $750. The lower unit offers 3 bedrooms and 1 bath and has been occupied by the same long-term tenant for 22+ years($700), providing stable rental income. Additional features include a basement for storage and a new furnace. A great opportunity for investors looking for income potential and long-term value. Buyer to assume repairs. Do not approach tenants.

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in River Rouge

Over the last 90 days, 11 homes sold in River Rouge for a median of $100,000, about $73 per square foot, and the typical one went under contract in 62 days. This home is listed at $94,000, or $40 per square foot, 45% below the city median, and has been on the market 64 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent River Rouge sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $1,562 a year. A buyer who lives here would pay about $1,358 to $3,878 a year once the taxable value resets after the sale, at the 2025 homestead rate of 81.69 mills for River Rouge City and River Rouge 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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