194 Richter Street

About this home

Check out this prime investment opportunity at 194 Richter, River Rouge--a 7-bedroom, 4-bathroom quadplex currently operating as a rental! This well-maintained property features four spacious units, each crafted for comfortable living, ensuring steady rental income. Perfect for investors or those seeking a hassle-free income property, this quadplex offers strong cash flow potential in a desirable River Rouge location. Don't miss your chance to own this income-producing gem! This property also includes 192 Richter. This property is currently rented at $4,000 per month. No showings without an accepted offer.

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 $239,900, and has been on the market 0 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 $6,256 a year. A buyer who lives here would pay about $7,038 to $9,897 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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