3360 16th Street

About this home

RARE FIVE-PARCEL RESIDENTIAL DEVELOPMENT OPPORTUNITY IN NORTH CORKTOWN! Excellent opportunity to acquire five vacant parcels, zoned for residential use, being offered together as a package sale! The package includes 3344, 3352, 3358, 3360 and 3368 16th Street, offering approximately 17,121 total square feet of land. Located in Detroit's desirable North Corktown neighborhood, within the subdivision known as SUB OF PC 44 (ALSO PG 3) (DEEDS), this residentially zoned assemblage presents an exciting opportunity for residential infill development. Conveniently situated near Corktown, Downtown Detroit, neighborhood restaurants, shopping, parks, entertainment and major commuter routes, including I-96 and the Fisher Freeway. A great opportunity for builders, investors and developers looking to expand their footprint in an established Detroit neighborhood. Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

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 $20,000, and has been on the market 2 days. 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

A buyer who lives here would pay about $648 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

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