8621 Elmira Street
Detroit, MI 48204
Multi Family · MLS # 20261089614 · Listing courtesy of Clyde Realty LLC
About this home
INVESTOR SPECIAL! FULL REHAB OPPORTUNITY! Excellent investment opportunity at 8621 Elmira in Detroit! This 2-unit multifamily property features 2 bedrooms in each unit and offers tremendous potential for investors looking to renovate and add value to their portfolio. Property requires a full renovation, providing the opportunity to customize and maximize rental income potential. Ideal for experienced investors seeking their next value-add project. Property sold as-is. Sale subject to lender approval. Buyer to verify all property 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 $39,900, or $27 per square foot, 62% below 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 $2,750 a year. A buyer who lives here would pay about $1,311 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
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