NOT LISTED FOR SALE

2560 Michigan Ave Detroit, MI 48216

Corktown Neighborhood

Estimated Value: $1,575,743

4 Beds
5.5 Baths
8,364 Sq Ft
$188/Sq Ft Est. Value

Last Sold July 31, 2018

Last sale price $1,000,000 $120 Per Sq Ft

Est. 58% increase in value since last sale

Current estimated payment $8,909/month

602 Days on Market

Highlights

  • Sound System
  • Forced Air Heating and Cooling System
  • 8 Car Garage
  • Cass Technical High School Rated 10
  • Ceiling Fan
  • 3-minute walk to Detroit Dog Park

About This Home

As of July 2018

This home is located at 2560 Michigan Ave, Detroit, MI 48216 since 02 December 2016 and is currently estimated at $1,575,743, approximately $188 per square foot. This property was built in 1905. 2560 Michigan Ave is a home located in Wayne County with nearby schools including Burton International Academy, Charles L. Spain Elementary-Middle School, and Edward 'Duke' Ellington Conservatory of Music and Art.

Last Agent to Sell the Property

Saverio Montalto

DOBI Real Estate License #6501380912 Listed on: 12/02/2016

DOBI Real Estate

Last Buyer's Agent

Alex Lauer

Clyde Realty LLC License #RCO-6501387117

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1905 | Remodeled in 2016

Lot Details

  • 7,841 Sq Ft Lot
  • Lot Dimensions are 82x102
  • Private Entrance
  • Fenced

Home Design

  • Brick Exterior Construction
  • Brick Foundation
  • Block Foundation
  • Rubber Roof

Interior Spaces

  • 8,364 Sq Ft Home
  • 2-Story Property
  • Elevator
  • Sound System
  • Ceiling Fan
  • Fire Sprinkler System
  • Unfinished Basement

Parking

  • 8 Car Garage
  • Lighted Parking

Outdoor Features

  • Exterior Lighting

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number W10I000265C6

Community Details

Overview

  • 4 Units
  • Sub Of Pt Of Stanton Farm Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,575

Year Built

Built in 1905 | Remodeled in 2016

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Upper/Lower Apartment
  • Architecture Level: 2 Story
  • Assessment: 100
  • Year Built: 1905
  • Year Renovated: 2016
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Cable Available, Elevator/Lift, Fire Sprinkler, High Spd Internet Avail, Intercom, Sound System
  • Total Bathrooms: 5.10
  • Full Bathrooms: 5
  • Half Bathrooms: 1
  • Basement: Yes
  • Basement Type: Unfinished
  • Sq Ft Combined: 8364
  • Total Sq Ft: 8364
  • Sq Ft Total Bsmt: 2400

Exterior Features

  • Roof Material: Rubber
  • Foundation Details: Basement
  • Construction Materials: Brick, Wood
  • Exterior Features: Fenced, Lighting, Private Entry
  • Foundation Materials: Block, Brick/Mortar
  • Frontage Feet: 82
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: Garages, Lighted, Paved
  • Total Parking Spaces: 8

Utilities

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

Schools

  • School District: Detroit

Lot Info

  • List Price per Acre: 9999994.4444
  • Lot Size Area: 0.18
  • Lot Dimensions: 82X102
  • Parcel Number: W10I000265C6
  • Zone Conform: Yes
  • Zoning: Residential

Rental Info

  • Rent Includes: Cable TV, Electric, Trash Collection (Garbage Pickup), Heat, Internet, Snow Removal, Water/Sewer, Yard Maintenance
  • Monthly Rental Income: 16000

Tax Info

  • Tax Amount Summer: 1409.0000
  • Tax Amount Winter: 166.0000
  • Total Tax: 1575.0000

Multi Family

  • Gross Scheduled Income: 192000.00
  • Number Of Units Total: 4
  • Number of One Bedroom Units: 4

MLS Schools

  • School District: Detroit

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 2, 2016
Closed on
Jul 1, 2018
Sold by
Buiding I Llc
Bought by
2560 Michigan Avenue Associates Llc
Seller's Agent
Saverio Montalto
DOBI Real Estate
Buyer's Agent
Alex Lauer
Clyde Realty LLC
List Price
$1,799,999
Sold Price
$1,000,000
Premium/Discount to List
-$799,999
-44.44%
Current Estimated Value
$1,575,743

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$575,743
Avg. Annual Appreciation
6.33%
Original Mortgage
$1,971,378
Outstanding Balance
$1,726,203
Interest Rate
4.5%
Mortgage Type
Unknown
Estimated Equity
-$182,505

Purchase Details

Closed on
Jan 9, 2015
Sold by
Burcham Christopher
Bought by
Building I Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$121,495
Interest Rate
3.84%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Nov 14, 2014
Sold by
Arteam Llc
Bought by
Burcham Christopher

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$121,495
Interest Rate
3.84%
Mortgage Type
Future Advance Clause Open End Mortgage
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 Buyer Sale Price Title Company
2560 Michigan Avenue Associates Llc $1,000,000 First American Title Ins Co
Building I Llc -- None Available
Burcham Christopher $175,000 Seaver Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 2560 Michigan Ave Associates Llc $1,971,378
Previous Owner Building I Llc $121,495
Previous Owner Burcham Christopher $122,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/31/2018 07/31/18 Sold $1,000,000 -44.4% $120 / Sq Ft
07/27/2018 07/27/18 Pending -- -- --
12/02/2016 12/02/16 For Sale $1,799,999 -- $215 / 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 $3,876 $504,800 $0 $0
2024 $3,876 $483,900 $0 $0
2023 $3,694 $420,400 $0 $0
2022 $4,834 $371,300 $0 $0
2021 $4,246 $268,400 $0 $0
2020 $3,930 $220,000 $0 $0
2019 $3,771 $134,900 $0 $0
2018 $3,309 $35,700 $0 $0
2017 $630 $33,400 $0 $0
2016 $1,603 $160,800 $0 $0
2015 $1,685 $32,900 $0 $0
2013 $1,632 $32,893 $0 $0
2010 -- $35,424 $6,000 $29,424
Source: Public Records

Agents Affiliated with this Home

  • Saverio Montalto

    Seller's Agent in 2018

    Saverio Montalto

    DOBI Real Estate

    (586) 615-5211

    104 Total Sales

    Saverio Montalto
    Section Image
  • Alex Lauer

    Buyer's Agent in 2018

    Alex Lauer

    Clyde Realty LLC

    (313) 230-0510

    1 in this area

    378 Total Sales

    Alex Lauer
    Section Image
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Map

Source: Realcomp

MLS Number: 216110597

Realcomp

APN: 10-0002656

Michigan Wayne County Detroit 48216 Corktown

2560 Michigan Ave, Detroit, MI

This home is located at 2560 Michigan Ave, Detroit, MI 48216 since 02 December 2016 and is currently estimated at $1,575,743, approximately $188 per square foot. This property was built in 1905. 2560 Michigan Ave is a home located in Wayne County with nearby schools including Burton International Academy, 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
Copyright 2025 Realcomp II Ltd. Shareholders
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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