505 Forest Street

About this home

RARE Wyandotte opportunity! BRING YOUR VISION & UNLOCK THE POTENTIAL! This turn-of-the-century farmhouse offers over 2,300 sf of potential, plus a full, light-filled basement, & the chance to create something truly spectacular! Gutted to the studs & ready for transformation, this property offers a blank canvas for a custom dream home or an exciting renovation investment. Imagine up to 5 bedrooms, 3+ bathrooms, expansive formal rooms, high ceilings, & a spacious, open-concept kitchen with a large island, breakfast nook & walk-in pantry. Professionally drawn, permit-ready architectural plans & renderings are available, providing a head start & showcasing one possible vision for the finished home! Original character remains in the antique radiators, solid doors & built-in millwork, offering the opportunity to blend timeless farmhouse charm w/ today's modern amenities. The full basement, has large windows & rear walkout stairwell for additional living space, workshop or hobbies. Situated on a desirable corner lot, the property includes TWO ADDITIONAL LOTS! Explore the possibility of splitting off an additional buildable homesite (subject to municipal approval), or keep all three together and enjoy an exceptionally large yard rarely found in Wyandotte! Picture a sweeping wraparound porch, spacious modern interiors & the charm of a beautifully restored historic farmhouse. Whether you're a homeowner dreaming of a custom home, a builder seeking your next project, or an investor looking for an opportunity to create value, this property deserves your attention! THE VISION IS READY. THE OPPORTUNITY IS YOURS! Whether you're looking to design your forever home, work with the seller-builder to create a custom renovation, or take advantage of an exciting investment opportunity, this property deserves a closer look!

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Wyandotte

Over the last 90 days, 90 homes sold in Wyandotte for a median of $205,000, about $151 per square foot, and the typical one went under contract in 12 days. This home is listed at $189,900, or $80 per square foot, 47% below the city median, 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 Wyandotte sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $6,756 a year. A buyer who lives here would pay about $7,242 a year once the taxable value resets after the sale, at the 2025 homestead rate of 53.16 mills for Wyandotte City and Wyandotte 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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