316 Spencer Street

About this home

Charming Ferndale multi-family with tons of upside! The entry-level unit features hardwood flooring throughout, an updated kitchen with granite countertops and stainless-steel appliances, plus a welcoming front sitting porch. This level offers 2 bedrooms and 1 full bath. Upstairs, the second-story unit is a bright 1-bed, 1-bath layout with its own updated kitchen, stainless appliances, and matching new flooring throughout. Utilities are separately metered for each unit, making this an easy, low-hassle property to manage. Live in one unit and rent the other to offset your mortgage (house hacking at its finest) or add this turnkey duplex to your investment portfolio — either way, this one works hard for you. Major systems have all been updated within the last 10 years, including the roof, electrical, plumbing, HVAC, gutters, and basement waterproofing, giving you real peace of mind from day one. Move-in ready and income-ready — don't miss this Ferndale gem!

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Ferndale

Over the last 90 days, 101 homes sold in Ferndale for a median of $262,000, about $207 per square foot, and the typical one went under contract in 12 days. This home is listed at $310,000, or $227 per square foot, 10% 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 Ferndale sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $7,224 a year. A buyer who lives here would pay about $4,840 to $7,382 a year once the taxable value resets after the sale, at the 2025 homestead rate of 47.16 mills for Ferndale City and Ferndale 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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