5533 Sheridan Street

About this home

LAND CONTRACT AVAILABLE, no bank loan or appraisal needed. Owner-occupant terms: 22,500 dollars down, 360 monthly payments of 1,852.35 dollars, 10.5 percent APR. Payment excludes taxes and insurance, so the actual payment will be higher. Other terms available. Classic brick Colonial, approx. 2,300 sq ft, 4 bedrooms, 3 full baths, sold as-is with the big items done: roof approx. 4 yrs old, central air approx. 1 yr old, newer furnace and water heater, updated kitchen with granite, new cabinets and stainless appliances. Main floor: living room with wood-burning fireplace, dining area, bedroom with adjoining full bath. Upstairs: 3 more bedrooms incl. primary suite with walk-in closet and dual-sink bath, plus a large bonus room. Unfinished basement, screened deck. Remaining work: upper gutters, flashing and siding at part of the soffits, trim, drywall patching and paint, several interior doors, stair railing and porch paint. Seller estimate 7,000 to 15,000 dollars, buyer to verify.

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 $225,000, or $98 per square foot, 38% 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 $2,328 a year. A buyer who lives here would pay about $1,578 to $7,293 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

$160,000

4 bd · 1.5 ba · 1,450 sqft

539 Kitchener Street, Detroit

Listing courtesy of REMAX City Centre

$169,900

3 bd · 2 ba · 1,564 sqft

6844 Minock Street, Detroit

Listing courtesy of Own It Realty

$179,900

3 bd · 1 ba · 1,504 sqft

4391 Bishop Street, Detroit

Listing courtesy of Max Broock Realtors

$195,000

2.5 ba · 2,548 sqft

3025 Tuxedo Street, Detroit

Listing courtesy of Keller Williams Somerset

$249,900

4 bd · 1.5 ba · 1,628 sqft

491 MARLBOROUGH Street, Detroit

Listing courtesy of RE/MAX First

$285,000

3 bd · 2 ba · 2,380 sqft

8120 E Jefferson Avenue #5K, Detroit

Listing courtesy of National Realty Centers, Inc

See all Detroit homes for sale →