NOT LISTED FOR SALE

242 E Palmer St Unit 5 Detroit, MI 48202

Cultural Center Neighborhood

Estimated Value: $268,000 - $366,000

2 Beds
1 Bath
944 Sq Ft
$260/mo HOA Fee

Last Sold December 29, 2021

Last sale price $214,000 $227 Per Sq Ft

Est. 55% increase in value since last sale

Current estimated payment $2,426/month

103 Days on Market

Highlights

  • Stainless Steel Appliances
  • Balcony
  • 1-Story Property
  • Cass Technical High School Rated 10
  • 1 Car Detached Garage
  • 5-minute walk to Peck Park

About This Home

As of December 2021

In the Art Center district of Midtown discover this two bedroom, historic and charming condominium. Historic features such as exposed brick, formal dining, original wood trim and coffered ceilings, original built ins; Plus modern updates, like a newer galley kitchen with shaker cabinets, stainless steel appliances and granite countertops, bathroom with tub/shower combination and subway tile. A quiet neighborhood in walking distance to Detroit's cultural gems and institutions, easy access to freeways, a few blocks from shopping, dining and the Q-Line. Large balcony connected to the living room, private deck in the back off of the kitchen. Garage parking, plus additional overflow parking on lot. Pet friendly building, low HOA fees, private basement storage. Professionally painted, throughout. Hot water heater, washer/dryer, exterior doors, hardwood floors, all recently replaced/refinished. Living room light fixture not included in the sale. Eligible for the NEZ-Homestead tax abatement!

Last Agent to Sell the Property

Jan Dijkers

Berkshire Hathaway HomeServices The Loft Warehouse License #6501338353 Listed on: 08/19/2021

Berkshire Hathaway HomeServices The Loft Warehouse

Last Buyer's Agent

Gustaf Andreasen

@properties Christie's Int'l R.E. Detroit License #6501434113

@properties Christie's Int'l R.E. Detroit

Property Details

Home Type

  • Condominium

Est. Annual Taxes

Year Built

  • Built in 1920 | Remodeled in 2006

HOA Fees

  • $260 Monthly HOA Fees

Home Design

  • Brick Exterior Construction
  • Brick Foundation
  • Asphalt Roof

Interior Spaces

  • 944 Sq Ft Home
  • 1-Story Property
  • Stacked Washer and Dryer

Kitchen

  • Free-Standing Gas Range
  • Microwave
  • Dishwasher
  • Stainless Steel Appliances

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Basement

  • Basement Fills Entire Space Under The House
  • Walk-Up Access

Parking

  • 1 Car Detached Garage
  • Garage Door Opener

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater

Additional Features

  • Balcony
  • Historic Home
  • Ground Level

Listing and Financial Details

  • Assessor Parcel Number W01I001534S005
  • $700 Seller Concession

Community Details

Overview

  • Wayne County Condo Plan No 888 Subdivision

Pet Policy

  • Dogs and Cats Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$203

Year Built

Built in 1920 | Remodeled in 2006

Lot Details

0

HOA Fees

$260 per month

Listing Details

  • Property Type: Condominium
  • Architecture Style: Historic
  • Architecture Level: 1 Story
  • Year Built: 1920
  • State Equalized Value: 8700.0000
  • Year Renovated: 2006
  • Entry Location: Ground Level w/Steps
  • Pets Allowed: Cats OK, Dogs OK
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • Total Bedrooms: 2
  • Total Bathrooms: 1.00
  • Full Bathrooms: 1
  • Basement: Yes
  • Basement Type: Walk-Up Access, Common
  • Kitchen Appliances: Dishwasher, Free-Standing Gas Range, Free-Standing Refrigerator, Microwave, Stainless Steel Appliance(s), Washer/Dryer Stacked
  • Total Sq Ft: 944

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Brick
  • Exclusions: Yes
  • Foundation Materials: Brick/Mortar
  • Porch Type: Balcony
  • Road Frontage Type: Paved, Pub. Sidewalk

Garage/Parking

  • Garage Size: 1 Car
  • Garage Features: Electricity, Door Opener, Detached
  • Garage: Yes

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Central Air
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal)

Condo/Co-op/Association

  • HOA Fee Includes: Insurance, Maintenance Structure, Maintenance Grounds, Sewer, Trash, Water
  • Association Fee Frequency: Monthly
  • Association Fee: 260
  • Association Fee: Yes

Lot Info

  • Homestead: Yes
  • Parcel Number: W01I001534S005

Tax Info

  • Tax Amount Summer: 176.0000
  • Tax Amount Winter: 27.0000
  • Total Tax: 203.0000
  • Taxable Value: 2901.0000

MLS Schools

  • School District: Detroit

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 19, 2021
Closed on
Dec 29, 2021
Sold by
Barnes Nathan A and Barnes Julie A
Bought by
Lesada Joseph Daniel
Seller's Agent
Jan Dijkers
Berkshire Hathaway HomeServices The Loft Warehouse
Buyer's Agent
Gustaf Andreasen
@properties Christie's Int'l R.E. Detroit
List Price
$249,000
Sold Price
$214,000
Premium/Discount to List
-$35,000
-14.06%
Current Estimated Value
$332,197

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$118,197
Avg. Annual Appreciation
11.87%
Original Mortgage
$207,580
Outstanding Balance
$191,160
Interest Rate
3.05%
Mortgage Type
New Conventional
Estimated Equity
$141,037

Purchase Details

Listed on
Mar 23, 2015
Closed on
Apr 29, 2015
Sold by
R & A Palmer Properties Llc
Bought by
Barnes Nathan and Burtch Julie A
Seller's Agent
Lisa Debs
Tower Real Estate
Buyer's Agent
Jan Dijkers
Berkshire Hathaway HomeServices The Loft Warehouse
List Price
$170,000
Sold Price
$170,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.51%
Original Mortgage
$132,500
Interest Rate
3.68%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 26, 2012
Sold by
Gignac Richard B and Gignac Ann L
Bought by
R & A Palmer Properties Llc

Purchase Details

Closed on
May 8, 2007
Sold by
Lancaster Condominiums Llc
Bought by
Gignac Richard B
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lesada Joseph Daniel $214,000 First American Title
Barnes Nathan $170,000 Liberty Title
R & A Palmer Properties Llc -- None Available
Gignac Richard B $135,000 Multiple
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lesada Joseph Daniel $207,580
Previous Owner Barnes Nathan $132,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/29/2021 12/29/21 Sold $214,000 -4.9% $227 / Sq Ft
12/01/2021 12/01/21 Pending -- -- --
11/18/2021 11/18/21 Price Changed $225,000 -5.9% $238 / Sq Ft
10/06/2021 10/06/21 Price Changed $239,000 -4.0% $253 / Sq Ft
08/19/2021 08/19/21 For Sale $249,000 +46.5% $264 / Sq Ft
04/29/2015 04/29/15 Sold $170,000 0.0% $180 / Sq Ft View Prior Sale
04/28/2015 04/28/15 Pending -- -- --
03/23/2015 03/23/15 For Sale $170,000 -- $180 / Sq Ft
Source: Realcomp

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,005 $8,700 $0 $0
2024 $5,005 $88,900 $0 $0
2023 $520 $8,700 $0 $0
2022 $213 $8,700 $0 $0
2021 $207 $8,700 $0 $0
2020 $444 $8,700 $0 $0
2019 $200 $6,700 $0 $0
2018 $164 $6,700 $0 $0
2017 $52 $6,700 $0 $0
2016 $431 $81,800 $0 $0
2015 $270 $2,700 $0 $0
2013 $268 $2,683 $0 $0
2010 -- $2,683 $2,682 $1
Source: Public Records

Agents Affiliated with this Home

  • Jan Dijkers

    Seller's Agent in 2021

    Jan Dijkers

    Berkshire Hathaway HomeServices The Loft Warehouse

    (313) 319-1370

    9 in this area

    253 Total Sales

    Jan Dijkers
    Section Image
  • Gustaf Andreasen

    Buyer's Agent in 2021

    Gustaf Andreasen

    @properties Christie's Int'l R.E. Detroit

    (313) 690-3368

    1 in this area

    124 Total Sales

    Gustaf Andreasen
    Section Image
  • Lisa Debs

    Seller's Agent in 2015

    Lisa Debs

    Tower Real Estate

    (313) 505-3713

    30 Total Sales

    Lisa Debs
    Section Image
See All Agents

Map

Source: Realcomp

MLS Number: 2210068434

Realcomp

APN: 01-001534-005

Michigan Wayne County Detroit 48202 Cultural Center

242 E Palmer St Unit 5, Detroit, MI

Not Listed for Sale

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Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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