NOT LISTED FOR SALE

Estimated Value: $192,000 - $211,000

-- Bed
2 Baths
3,512 Sq Ft
$56/Sq Ft Est. Value

Last Sold May 06, 2024

Last sale price $195,000 $56 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $1,310/month

25 Days on Market

Highlights

  • 1 Fireplace
  • Window Unit Cooling System
  • High Speed Internet
  • Cass Technical High School Rated 10
  • Forced Air Heating System

About This Home

As of May 2024

Welcome to your new investment opportunity in the charming neighborhood of LaSalle Gardens in Detroit! This renovated multi-family home offers the best of both worlds: a place to call home and a smart investment opportunity.When you come inside you will notice right away, the new modern finishes and updates throughout. With each unit totally renovated and holding its certificate of occupancy, you can purchase knowing that your investment is in top-notch condition.Located in a prime location, this two-unit home has a total of six bedrooms and two baths, with each unit featuring three bedrooms and one bath. The shared basement space provides ample storage for both units, shared laundry facilities, and side door access making entry into the home from the parking so easy. All this, adding to the convenience and functionality of the property.Outside, you'll find a large fenced-in backyard, plenty of driveway space for off-street parking, and a huge front porch, great for relaxing and getting to know your neighborsCurrently, both units are occupied with reliable tenants, providing immediate rental income for savvy investors. However, if you're looking to live in one unit while generating income from the other, this property offers the perfect opportunity to do just that. Investing in Detroit has never been more promising, and this property exemplifies the strength and potential of the market. Whether you're seeking a steady stream of rental income or looking to establish roots in the community, this multi-family home in LaSalle Gardens offers a great investment opportunity.Don't miss out on your chance to own a piece of Detroit's thriving real estate market. Schedule your showing today.

Last Listed By

Tracy Petersen

Elite Realty License #6506047844 Listed on: 03/06/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,308

Year Built

  • Built in 1923

Lot Details

  • 5,227 Sq Ft Lot
  • Lot Dimensions are 133x40

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 1 Fireplace

Basement

  • Basement Fills Entire Space Under The House
  • Laundry in Basement

Parking

  • 4 Parking Spaces
  • Driveway
  • Paved Parking

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Window Unit Heating System
  • Shared Gas Meter
  • High Speed Internet
  • Cable TV Available

Community Details

  • 2 Units

Listing and Financial Details

  • Tenant pays for electric, gas
  • The owner pays for trash collection, water, sewer

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,308

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Sub-Type: 2 to 4 Units
  • Property Type: Multi-Family
  • New Construction: No
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplaces: 1
  • Basement: Full
  • Basement: Yes

Exterior Features

  • Construction Materials: Brick
  • List Price: 195000.0
  • Lot Features: Sidewalk
  • Number of Buildings: 1
  • Roof: Other
  • Waterfront: No
  • Access Feat:Accessibility Features2: No
  • Driveway Paved: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Concrete, Driveway, Paved
  • Total Parking Spaces: 4.0
  • General Property Info:Total Parking Spaces: 4.0

Utilities

  • Cooling: Window Unit(s)
  • Cooling: Yes
  • Heating: Forced Air, Natural Gas
  • Heating: Yes
  • Laundry Features: In Basement
  • Sewer: Public Sewer
  • Utilities: Public Water Available, Public Sewer Available, Cable Available, Broadband Available, Natural Gas Connected, Electric Connected

Lot Info

  • Lot Size Acres: 0.12
  • Lot Size Area: 0.12
  • Lot Dimensions: 133x40
  • Lot Size Sq Ft: 5227.0
  • Zoning Description: R2
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electric, Gas

Multi Family

  • Number of Units Total: 2

Tax Info

  • Tax Annual Amount: 2308.0
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 6, 2024
Closed on
May 6, 2024
Sold by
Wcw Investment Group Llc
Bought by
Udanoh Ike
Seller's Agent
Tracy Petersen
Elite Realty
Buyer's Agent
Edgar Butler
@properties Christie's Int'l R.E. Birmingham
List Price
$195,000
Sold Price
$195,000
Total Days on Market
25
Views
68
Current Estimated Value
$198,056

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$3,056
Avg. Annual Appreciation
1.49%
Original Mortgage
$156,000
Outstanding Balance
$154,350
Interest Rate
6.79%
Mortgage Type
New Conventional
Estimated Equity
$43,706

Purchase Details

Listed on
May 10, 2021
Closed on
Jun 4, 2021
Sold by
Vick Johnny and Vick Gwendolyn
Bought by
Wong Forrest L and Tong Si-Hao W
Seller's Agent
Leonard Pickett
RCH Brokerage Legacy Inc
Buyer's Agent
Tracy Petersen
Palladium Realty
List Price
$49,990
Sold Price
$17,500
Premium/Discount to List
-$32,490
-64.99%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
128.98%

Purchase Details

Closed on
Jul 7, 2005
Sold by
Burton Carrie
Bought by
Vick Johnny

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 Buyer Sale Price Title Company
Udanoh Ike $195,000 None Listed On Document
Wong Forrest L $17,500 None Listed On Document
Vick Johnny -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Udanoh Ike $156,000
Closed Udanoh Ike $156,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/06/2024 05/06/24 Sold $195,000 0.0% $56 / Sq Ft
03/31/2024 03/31/24 Pending -- -- --
03/06/2024 03/06/24 For Sale $195,000 +1014.3% $56 / Sq Ft
06/09/2021 06/09/21 Sold $17,500 -65.0% $6 / Sq Ft
06/08/2021 06/08/21 Pending -- -- --
05/10/2021 05/10/21 For Sale $49,990 -- $18 / Sq Ft
Source: Southwestern Michigan Association of REALTORS®

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
2024 $2,428 $30,900 $0 $0
2023 $2,094 $25,100 $0 $0
2022 $2,237 $21,700 $0 $0
2021 $1,522 $16,700 $0 $0
2020 $1,522 $20,000 $0 $0
2019 $1,501 $15,600 $0 $0
2018 $1,325 $12,800 $0 $0
2017 $241 $12,700 $0 $0
2016 $1,491 $29,300 $0 $0
2015 $1,290 $18,700 $0 $0
2013 $1,250 $25,924 $0 $0
2010 -- $37,144 $1,030 $36,114
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Southwestern Michigan Association of REALTORS®

MLS Number: 24010735

Southwestern Michigan Association of REALTORS®

APN: 10-001673