$374,000
$15K PRICE DROP

2987 Franklin St Unit 2 Detroit, MI 48207

Rivertown Neighborhood

Estimated payment $2,771/month

Total Views 21,177
2 Beds
2 Baths
1,044 Sq Ft
$358 Price per Sq Ft

Highlights

  • Ground Level Unit
  • 1-Story Property
  • Dogs and Cats Allowed
  • Cass Technical High School Rated 10
  • Heating system powered by renewable energy

About This Home

True loft living inside a converted manufacturing warehouse from 1905, this beautiful two-bedroom corner loft designed by award-winning Concetti firm has large warehouse windows and original features, including exposed brick walls; polished concrete floors; tall ceilings with exposed original wood beams; and reclaimed steel firehouse doors. Housed in East Rivertown's historic Dongan Building, which was originally built to manufacture military parts during World War II, the condo has been updated to reflect modern conveniences like the Lutron smart system. Designed by Euroamerica Design, the gorgeous kitchen is finished with sleek Italian Berloni cabinets, built-in Miele appliances, white granite countertops, custom light fixture from the Chicago Light Company, and a dramatic tile backsplash all the way to the ceiling. The generously sized primary suite comes with west-facing natural light, an open layout; a herringbone accent wall; hanging bedside pendant lights; separate soaking tub; marble walk-in shower; an industrial chic dual vanity handcrafted from Workshop Detroit and a large walk-in closet with laundry. The second bathroom is finished with a bold Pewabic tile shower, a bespoke vanity, and hidden mud room behind a reclaimed industrial sliding door. The building features a common rooftop area, keyless entry, security cameras, additional resident storage, and HOA allows for short-term rentals. There are two gated parking spaces included; and NEZ-approved tax breaks until 2035.

Listing Agent

James Tumey

O'Connor Realty Detroit, LLC License #6501379881 Listed on: 03/28/2025

Property Details

Home Type

  • Condominium

Est. Annual Taxes

Year Built

  • Built in 1943 | Remodeled in 2020

HOA Fees

  • $215 Monthly HOA Fees

Home Design

  • Brick Exterior Construction
  • Slab Foundation

Interior Spaces

  • 1,044 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Parking

  • 2 Parking Garage Spaces
  • Parking Lot

Location

  • Ground Level Unit

Utilities

  • Heating system powered by renewable energy
  • Back Up Electric Heat Pump System
  • Sewer in Street

Listing and Financial Details

  • Assessor Parcel Number W27I210143S

Community Details

Overview

  • Association Phone (313) 476-3179
  • Seymour & Troesters Loyola Pk Subdivision

Pet Policy

  • Dogs and Cats Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$5,875

Year Built

Built in 1943 | Remodeled in 2020

Lot Details

0

HOA Fees

$215 per month

Listing Details

  • Property Type: Condominium
  • Architecture Style: Loft
  • Architecture Level: 1 Story
  • Year Built: 1943
  • State Equalized Value: 163000.0000
  • Year Renovated: 2020
  • Entry Location: Ground Level
  • Pets Allowed: Cats OK, Dogs OK
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 1

Interior Features

  • Room Count: 6
  • Total Bedrooms: 2
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Sq Ft Combined: 1044
  • Total Sq Ft: 1044

Exterior Features

  • Foundation Details: Slab
  • Construction Materials: Brick
  • Road Frontage Type: Paved

Garage/Parking

  • Garage Size: No Garage
  • Garage Features: 2+ Assigned Spaces, Parking Lot

Utilities

  • Heating Fuel: Electric
  • Heating: ENERGY STAR® Qualified Furnace Equipment
  • Sewer: Sewer at Street
  • Water Source: Water at Street

Condo/Co-op/Association

  • Association Fee Frequency: Monthly
  • Phone: 3134763179
  • Association Fee: 215
  • Association Contact: 3134763179
  • Association Fee: Yes

Schools

  • School District: Detroit

Lot Info

  • Homestead: Yes
  • Parcel Number: W27I210143S

Tax Info

  • Tax Amount Summer: 5172.0000
  • Tax Amount Winter: 703.0000
  • Total Tax: 5875.0000

MLS Schools

  • School District: Detroit

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $7,718 $247,100 $0 $0
2024 $7,718 $237,800 $0 $0
2023 $7,612 $221,800 $0 $0
2022 $8,248 $164,900 $0 $0
2021 $7,954 $119,400 $0 $0
2020 $7,851 $125,900 $0 $0
2019 $8,116 $114,700 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/24/2025 07/24/25 Price Changed $374,000 -1.3% $358 / Sq Ft
07/14/2025 07/14/25 Price Changed $379,000 -2.1% $363 / Sq Ft
04/14/2025 04/14/25 Price Changed $387,000 -0.5% $371 / Sq Ft
03/28/2025 03/28/25 For Sale $389,000 0.0% $373 / Sq Ft
02/13/2025 02/13/25 Rented $1,900 -7.3% --
02/07/2025 02/07/25 Under Contract -- -- --
12/22/2024 12/22/24 For Rent $2,050 +20.6% --
09/01/2024 09/01/24 Rented $1,700 0.0% --
08/30/2024 08/30/24 Under Contract -- -- --
08/07/2024 08/07/24 For Rent $1,700 -29.2% --
06/01/2022 06/01/22 Rented $2,400 0.0% --
02/23/2022 02/23/22 Under Contract -- -- --
02/14/2022 02/14/22 For Rent $2,400 0.0% --
04/16/2021 04/16/21 Sold $280,000 0.0% $373 / Sq Ft
04/08/2021 04/08/21 Rented $2,050 -4.7% --
03/12/2021 03/12/21 Under Contract -- -- --
03/03/2021 03/03/21 Pending -- -- --
02/04/2021 02/04/21 Price Changed $2,150 0.0% $2 / Sq Ft
01/19/2021 01/19/21 Price Changed $285,000 -0.7% $380 / Sq Ft
12/05/2020 12/05/20 For Sale $287,000 0.0% $383 / Sq Ft
11/24/2020 11/24/20 For Rent $2,200 -8.3% --
10/18/2020 10/18/20 Rented $2,400 0.0% --
09/24/2020 09/24/20 Under Contract -- -- --
09/14/2020 09/14/20 For Rent $2,400 +9.1% --
07/16/2020 07/16/20 Rented $2,200 +10.6% --
06/04/2020 06/04/20 Under Contract -- -- --
05/19/2020 05/19/20 Price Changed $1,990 -4.8% $2 / Sq Ft
05/02/2020 05/02/20 For Rent $2,090 0.0% --
06/05/2019 06/05/19 Sold $230,000 -8.0% $333 / Sq Ft
05/13/2019 05/13/19 Pending -- -- --
02/25/2019 02/25/19 Price Changed $249,900 -5.7% $362 / Sq Ft
12/19/2018 12/19/18 For Sale $265,000 -- $384 / Sq Ft
Source: Realcomp

Mortgage History

Date Status Loan Amount Loan Type
Closed $1,221,000 Commercial
Closed $1,850,000 Stand Alone Second
Source: Public Records

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Source: Realcomp

MLS Number: 20250020891

Realcomp

APN: 11-000072-002