2011
Detroit, MI 48238
Multi Family · MLS # 20261090553 · Listing courtesy of Jim Saros Real Estate Services
About this home
Nestled within one of Detroit’s highly sought-after, up and coming neighborhoods, this three unit portfolio presents an excellent investment opportunity. All three units are currently occupied, providing immediate rental income with additional upside potential. Current monthly rents are $999, $1,199, and $1,095, with projected market rents of approximately $1,200 per unit. An attractive opportunity for investors looking to add to their portfolio while capitalizing on rental growth and the continued revitalization of the surrounding area.
Interior
Systems and utilities
Exterior and lot
Taxes, HOA and more
Schools
How it compares in Detroit
Over the last 90 days, 1,207 homes sold in Detroit for a median of $99,900, about $71 per square foot, and the typical one went under contract in 29 days. This home is listed at $258,000, or $190 per square foot, 168% above 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 $1,102 a year. A buyer who lives here would pay about $675 to $8,363 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
Similar homes in Detroit
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