$116,000
SOLD JUL 31, 2014

242 E Palmer St Detroit, MI 48202

Cultural Center Neighborhood
2 Beds
1 Bath
1,000 Sq Ft
$135/mo HOA Fee

Recently Sold

$116 Per Sq Ft

7% Below List Price

6 Days on Market

Highlights

  • Forced Air Heating and Cooling System
  • High Speed Internet
  • 5-minute walk to Peck Park
  • Cass Technical High School Rated 10

About This Home

As of December 2014

Garden level 2 bedroom. Remote Fenced in Parking is on the way! This is a fully occupied 8 unit building. Original brick with a blend of Craftsman/Loft style. Hardwood floors through out most of the home. There is a long rear entry hall. Safety storm door for front entryway. If you want to be in Mid-Town...You can't get much lower in this price range. Need 24 Hr notice while tenant is still occupying unit. Please excuse packing.

Last Agent to Sell the Property

Lisa Debs

Tower Real Estate License #6501317042 Listed on: 06/05/2014

Last Buyer's Agent

Charles Ryan

Keller Williams Home License #RCO-6501309474

Keller Williams Home

Property Details

Home Type

  • Condominium

Est. Annual Taxes

Year Built

  • Built in 1912

HOA Fees

  • $135 Monthly HOA Fees

Home Design

  • Brick Exterior Construction
  • Brick Foundation

Interior Spaces

  • 1,000 Sq Ft Home
  • 3-Story Property
  • Basement Fills Entire Space Under The House
  • Dishwasher

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Breezeway

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas
  • Shared Water Meter
  • Sewer in Street
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number W23I002004S0997

Community Details

Overview

  • Wayne County Condo Plan No 888 Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$691

Year Built

Built in 1912

Lot Details

0

HOA Fees

$135 per month

Listing Details

  • Property Type: Condominium
  • Architecture Level: 3 Story
  • Assessment: See Disclosures
  • Year Built: 1912
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 3

Interior Features

  • Interior Amenities: Cable Available, High Spd Internet Avail
  • Room Count: 6
  • Total Bedrooms: 2
  • Total Bathrooms: 1.00
  • Full Bathrooms: 1
  • Basement: Yes
  • Basement Type: Common
  • Kitchen Appliances: Dishwasher, Dryer, Refrigerator, Range/Stove, Washer
  • Sq Ft Combined: 1000
  • Total Sq Ft: 1000

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Brick
  • Foundation Materials: Brick/Mortar
  • Porch Type: Breezeway
  • Road Frontage Type: Pub. Sidewalk

Garage/Parking

  • Garage Size: No Garage

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Central Air
  • Heating: Forced Air
  • Sewer: Sewer at Street, Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Common
  • Water Source: Public (Municipal)
  • Laundry Facilities: No

Condo/Co-op/Association

  • HOA Fee Includes: Water
  • Association Fee Frequency: Monthly
  • Association Fee: 135
  • Association Fee: No

Schools

  • School District: Detroit

Lot Info

  • Parcel Number: W23I002004S0997

Tax Info

  • Tax Amount Summer: 642.0100
  • Tax Amount Winter: 49.3500
  • Total Tax: 691.3600

MLS Schools

  • School District: Detroit

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 25, 2014
Closed on
Dec 8, 2014
Sold by
R & A Palmer Properties Llc
Bought by
Yan Ling
Seller's Agent
Thomas Tedesco
RE/MAX Showcase Homes
Buyer's Agent
. Non Mls Member
NON MLS Member
List Price
$165,000
Sold Price
$160,000
Premium/Discount to List
-$5,000
-3.03%
Current Estimated Value
$362,933

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$202,933
Avg. Annual Appreciation
7.90%
Original Mortgage
$112,000
Outstanding Balance
$86,131
Interest Rate
3.87%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$276,802

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 7, 2008
Sold by
Lancaster Condominiums Llc
Bought by
Gignac Richard B
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Warranty Deed $160,000 Liberty Title
Warranty Deed -- None Available
Quit Claim Deed -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $112,000 Adjustable Rate Mortgage/ARM
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/01/2015 03/01/15 Rented $1,200 -14.3% --
02/16/2015 02/16/15 Under Contract -- -- --
12/15/2014 12/15/14 For Rent $1,400 0.0% --
12/09/2014 12/09/14 Sold $160,000 -3.0% $169 / Sq Ft
10/17/2014 10/17/14 Pending -- -- --
08/25/2014 08/25/14 For Sale $165,000 +42.2% $175 / Sq Ft
07/31/2014 07/31/14 Sold $116,000 -7.1% $116 / Sq Ft
06/11/2014 06/11/14 Pending -- -- --
06/05/2014 06/05/14 For Sale $124,900 -- $125 / 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 $252 $8,700 $0 $0
2024 $252 $8,700 $0 $0
2023 $245 $8,700 $0 $0
2022 $265 $8,700 $0 $0
2021 $257 $8,700 $0 $0
2020 $497 $8,700 $0 $0
2019 $252 $6,700 $0 $0
2018 $214 $6,700 $0 $0
2017 $52 $6,700 $0 $0
2016 $480 $81,900 $0 $0
2015 $270 $2,700 $0 $0
2013 -- $2,683 $0 $0
2010 -- $2,683 $2,682 $1
Source: Public Records

Agents Affiliated with this Home

  • Kevin Wobbe

    Seller's Agent in 2015

    Kevin Wobbe

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

    (313) 550-4798

    4 in this area

    40 Total Sales

    Kevin Wobbe
    Section Image
  • Lisa Debs

    Seller's Agent in 2014

    Lisa Debs

    Tower Real Estate

    (313) 505-3713

    28 Total Sales

    Lisa Debs
    Section Image
  • Thomas Tedesco

    Seller's Agent in 2014

    Thomas Tedesco

    RE/MAX

    (248) 882-6589

    4 Total Sales

    Thomas Tedesco
    Section Image
  • Charles Ryan

    Buyer's Agent in 2014

    Charles Ryan

    Keller Williams Home

    (313) 578-1981

    186 Total Sales

    Charles Ryan
    Section Image

  • .

    Buyer's Agent in 2014

    . Non Mls Member

    NON MLS Member

See All Agents

Map

Source: Realcomp

MLS Number: 214053800

Realcomp

APN: 01-001534-004

Michigan Wayne County Detroit 48202 Cultural Center

242 E Palmer St, Detroit, MI

This home is located at 242 E Palmer St, Detroit, MI 48202 and is currently priced at $116,000, approximately $116 per square foot. This property was built in 1912. 242 E Palmer St is a home located in Wayne County with nearby schools including Golightly Education Center, Charles L. Spain Elementary-Middle School, and Edward 'Duke' Ellington Conservatory of Music and Art.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Realcomp IDX provided courtesy of Realcomp II Ltd. via Ten-X and MLS
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IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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