5378 Vancouver Street

About this home

Live in one, rent the other, or rent both! Listed at $153,000, 5378–5382 Vancouver Street is an updated brick duplex with two 2-bedroom units and about 2,088 square feet. Numerous updates, appliances included, and new mechanicals add value and appeal for investors, owner-occupants, and house hackers. At projected rents of $1,250 per unit, this property offers $2,500 in monthly gross rental potential ($30,000 annually) and an estimated 12.1% pro forma cap rate. Rent both units to grow your portfolio, or occupy one while the other's rental income helps offset your housing costs. Located in Detroit’s west-side Tireman area with convenient access to New Center, Henry Ford Hospital, and Downtown’s dining, entertainment, and employment destinations. Updated, available, and ready for your next move. Schedule your showing today! Projected cap rate uses full rental income, reported annual taxes of $2,818, estimated insurance of $1,200, and a 25% allowance for vacancy and other operating costs. Actual results may vary. Buyer to verify all information.

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Detroit

Over the last 90 days, 1,214 homes sold in Detroit for a median of $99,950, about $71 per square foot, and the typical one went under contract in 29 days. This home is listed at $152,000, or $73 per square foot, 3% above the city median, and has been on the market 15 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

The current owner pays about $3,219 a year. A buyer who lives here would pay about $1,138 to $4,927 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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