$420,000
SOLD SEP 28, 2023
4 Beds
2 Baths
2,834 Sq Ft
4,792 Sq Ft Lot

Recently Sold

$148 Per Sq Ft

7% Below List Price

19 Days on Market

Highlights

  • Gothic Architecture
  • Balcony
  • Tankless Water Heater
  • Cass Technical High School Rated 10
  • Porch
  • Forced Air Heating System

About This Home

As of September 2023

Excellent Investment Opportunity! This Detroit gem boasts a multi-family unit with 2 bedrooms and 1
bathroom in each unit. With potential rental income from two separate tenants, this is a great way to
maximize your ROI! This unit is close to Wayne State University, making it the perfect opportunity to
capitalize on the thriving rental market.

Last Agent to Sell the Property

Douglas Rahaim

DOBI Real Estate License #6501374444 Listed on: 08/10/2023

DOBI Real Estate

Last Buyer's Agent

Desert Klein-Kassab

Max Broock, REALTORS®-Detroit License #6501414164

Max Broock, REALTORS®-Detroit

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1908

Lot Details

  • 4,792 Sq Ft Lot
  • Lot Dimensions are 36.00 x 130.00
  • Fenced

Parking

  • On-Street Parking

Home Design

  • Gothic Architecture
  • Brick Exterior Construction
  • Brick Foundation
  • Asphalt Roof

Interior Spaces

  • 2 Full Bathrooms
  • 2,834 Sq Ft Home
  • 2-Story Property

Unfinished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Outdoor Features

  • Balcony
  • Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Tankless Water Heater

Listing and Financial Details

  • Assessor Parcel Number W08I007020S

Community Details

Overview

  • 2 Units
  • William B Wessons Sub Subdivision

Amenities

  • Laundry Facilities

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,153

Year Built

Built in 1908

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Gothic Revival
  • Architecture Level: 2 Story
  • Assessment: 340.00
  • Year Built: 1908
  • State Equalized Value: 82800.0000
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Laundry Facility
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Basement: Yes
  • Basement Type: Unfinished, Walkout Access, Common
  • Sq Ft Combined: 2834
  • Total Sq Ft: 2834
  • Sq Ft Total Bsmt: 1125

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement, Michigan Basement
  • Construction Materials: Brick
  • Exterior Features: Fenced
  • Foundation Materials: Brick/Mortar
  • Frontage Feet: 36
  • Porch Type: Balcony, Porch
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: On Street

Utilities

  • Heating Fuel: Natural Gas
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Tankless
  • Water Source: Public (Municipal)
  • Laundry Facilities: Yes

Schools

  • School District: Detroit

Lot Info

  • Lot Size Area: 0.11
  • Lot Dimensions: 36.00 x 130.00
  • Parcel Number: W08I007020S
  • Zoning: Residential

Rental Info

  • Monthly Rental Income: 2000

Tax Info

  • Tax Amount Summer: 5373.0000
  • Tax Amount Winter: 780.0000
  • Total Tax: 6153.0000
  • Taxable Value: 82800.0000

Multi Family

  • Gross Scheduled Income: 24000.00
  • Number Of Units Total: 2
  • Unit Count: 2
  • Number of Two Bedroom Units: 2

MLS Schools

  • School District: Detroit

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 10, 2023
Closed on
Sep 28, 2023
Sold by
Ying Aria S and Wingate Jacob G
Bought by
Okeley Alicia and Okeley Robert E
Seller's Agent
Douglas Rahaim
DOBI Real Estate
Buyer's Agent
Desert Klein-Kassab
Max Broock, REALTORS®-Detroit
List Price
$450,000
Sold Price
$420,000
Premium/Discount to List
-$30,000
-6.67%
Views
54
Current Estimated Value
$477,818

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$57,818
Avg. Annual Appreciation
6.91%
Original Mortgage
$250,000
Outstanding Balance
$245,365
Interest Rate
7.18%
Mortgage Type
New Conventional
Estimated Equity
$232,453

Purchase Details

Listed on
Apr 8, 2021
Closed on
May 7, 2021
Sold by
Kibler Eric M
Bought by
Wingate Jacob G and Ying Aria S
Seller's Agent
Kenan Bakirci
@properties Christie's Int'l R.E. Detroit
Buyer's Agent
Douglas Rahaim
DOBI Real Estate
List Price
$439,900
Sold Price
$422,500
Premium/Discount to List
-$17,400
-3.96%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-0.25%
Original Mortgage
$357,000
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 27, 2018
Closed on
Sep 7, 2018
Sold by
Schoenberg Gary
Bought by
Kibler Eric M
Seller's Agent
Muffy Kroha
Max Broock, REALTORS®-Detroit
Buyer's Agent
Non Participant
Non Realcomp Office
List Price
$390,000
Sold Price
$385,000
Premium/Discount to List
-$5,000
-1.28%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.54%
Original Mortgage
$10,000
Interest Rate
4.5%
Mortgage Type
Stand Alone Second

Purchase Details

Closed on
Sep 28, 2017
Sold by
Schoenberg Gary
Bought by
Schoenberg Matthew Scott

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$54,780
Interest Rate
3.9%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Mar 1, 2017
Sold by
Schoenberg Gary
Bought by
Schoenberg Gary

Purchase Details

Closed on
Feb 8, 2017
Sold by
Kidney Marc and Kidney Gail
Bought by
Schoenberg Gary
Source: Public Records

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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 $420,000 None Listed On Document
Warranty Deed $420,000 None Listed On Document
Warranty Deed $422,500 First American Title
Warranty Deed $385,000 None Available
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- None Available
Warranty Deed $73,041 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $250,000 New Conventional
Closed $250,000 New Conventional
Previous Owner $357,000 New Conventional
Previous Owner $10,000 Stand Alone Second
Previous Owner $361,875 New Conventional
Previous Owner $54,780 Credit Line Revolving
Previous Owner $75,100 Unknown
Previous Owner $50,000 Unknown
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/28/2023 09/28/23 Sold $420,000 -6.7% $148 / Sq Ft
08/29/2023 08/29/23 Pending -- -- --
08/10/2023 08/10/23 For Sale $450,000 +6.5% $159 / Sq Ft
05/07/2021 05/07/21 Sold $422,500 -4.0% $149 / Sq Ft
04/18/2021 04/18/21 Pending -- -- --
04/08/2021 04/08/21 For Sale $439,900 +14.3% $155 / Sq Ft
09/07/2018 09/07/18 Sold $385,000 -1.3% $136 / Sq Ft
07/20/2018 07/20/18 Pending -- -- --
06/27/2018 06/27/18 For Sale $390,000 -- $138 / 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 $234 $6,900 $0 $0
2024 $234 $165,600 $0 $0
2023 $5,537 $140,700 $0 $0
2022 $6,153 $82,800 $0 $0
2021 $1,955 $26,900 $0 $0
2020 $1,954 $25,200 $0 $0
2019 $1,761 $17,900 $0 $0
2018 $1,649 $17,000 $0 $0
2017 $236 $14,500 $0 $0
2016 $1,326 $78,100 $0 $0
2015 $1,231 $22,700 $0 $0
2013 $1,192 $26,855 $0 $0
2010 -- $39,373 $528 $38,845
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 20230067109

Realcomp

APN: 08-007020