NOT LISTED FOR SALE

5040 Balfour Rd Detroit, MI 48224

Morningside Neighborhood

Estimated Value: $104,000 - $244,000

4 Beds
2 Baths
2,160 Sq Ft
$72/Sq Ft Est. Value

Last Sold April 16, 2021

Last sale price $39,000 $18 Per Sq Ft

Est. 298% increase in value since last sale

Current estimated payment $1,107/month

265 Days on Market

Highlights

  • Forced Air Heating System
  • Cass Technical High School Rated 10
  • Garage

About This Home

As of April 2021

A must to consider, this two family 5&5 can easily be a single family or in-law perfect residence. All brick semi-custom built limestone arches around front door and over front bay window and trim. Newer architectural shingles on house and two car detached garage. Full concrete driveway. subject has a natural fireplace on both first and second floor. upgraded electrical subject has had fire / smoke damage on the first floor nothing major or thru house. definitely more positive than negative. REMS processing fee of $295.00 due from purchaser at closing
buyer agents please review agent only remarks

Last Agent to Sell the Property

Robert LaBute

Real Estate Management Specialists Inc License #6502139311 Listed on: 07/09/2020

Last Buyer's Agent

Renae Palmer

Real Estate Management Specialists Inc License #RCO-6501349805

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1939

Lot Details

  • 5,227 Sq Ft Lot
  • Lot Dimensions are 40.00x130.00

Parking

  • Garage

Home Design

  • Brick Exterior Construction
  • Block Foundation
  • Asphalt Roof

Interior Spaces

  • 2 Full Bathrooms
  • 2,160 Sq Ft Home
  • 2-Story Property
  • Unfinished Basement
  • Interior Basement Entry

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number W21I067697S

Community Details

Overview

  • 2 Units
  • East Detroit Development Cos No 3 Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Year Built

Built in 1939

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Upper/Lower Apartment
  • Architecture Level: 2 Story
  • Year Built: 1939
  • State Equalized Value: 27100.0000
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Basement: Yes
  • Basement Type: Interior Entry (Interior Access), Unfinished
  • Sq Ft Combined: 2160
  • Total Sq Ft: 2160
  • Sq Ft Total Bsmt: 1050

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Brick
  • Foundation Materials: Block
  • Frontage Feet: 40
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: Garages

Utilities

  • Heating Fuel: Natural Gas
  • 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: 375000.0000
  • Lot Size Area: 0.12
  • Lot Dimensions: 40.00X130.00
  • Parcel Number: W21I067697S
  • Zoning: Multi-Family

Rental Info

  • Monthly Rental Income: 1600

Tax Info

  • Tax Amount Summer: 1690.0000
  • Tax Amount Winter: 162.0000
  • Total Tax: 1852.0000
  • Taxable Value: 17088.0000

Multi Family

  • Gross Scheduled Income: 19200.00
  • 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

Closed on
Nov 8, 2024
Sold by
Walker David and Walker Daphney
Bought by
Starlite Realty Corp
Current Estimated Value
$155,367

Purchase Details

Listed on
Jul 9, 2020
Closed on
Apr 19, 2021
Sold by
Theodorou Pieris Theodoros and Theodorou Nadina
Bought by
Walker David and Walker Daphney
Seller's Agent
Robert LaBute
Real Estate Management Specialists Inc
Buyer's Agent
Renae Palmer
Real Estate Management Specialists Inc
List Price
$45,000
Sold Price
$39,000
Premium/Discount to List
-$6,000
-13.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
35.77%

Purchase Details

Listed on
Jul 11, 2012
Closed on
Dec 11, 2012
Sold by
Smart Homes Investments Ltd
Bought by
Theodorou Pieris Theodoros and Theodorou Nadina
Seller's Agent
Joel Root
Keller Williams Realty Lakeside
Buyer's Agent
. Non Mls Member
NON MLS MEMBER
List Price
$1,000,000
Sold Price
$8,500
Premium/Discount to List
-$991,500
-99.15%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.63%

Purchase Details

Closed on
Nov 3, 2011
Sold by
Citimortgage Inc
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Oct 26, 2011
Sold by
Martin Matthew A
Bought by
Citimortgage Inc

Purchase Details

Closed on
Jul 23, 2009
Sold by
Martin Matthew A
Bought by
Moving On Up Llc

Purchase Details

Closed on
May 12, 2009
Sold by
In The Now Investments Inc
Bought by
Martin Matthew A

Purchase Details

Closed on
Sep 10, 2008
Sold by
Special Needs Housing Of America
Bought by
In The Now Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$41,453
Interest Rate
6.57%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 20, 2007
Sold by
Mortgage Electronic Registration Systems
Bought by
Bank Of New York and Holders Cwalt Inc Alternative Loan Trust

Purchase Details

Closed on
Jun 7, 2007
Sold by
Amin Gloria
Bought by
Mortgage Electronic Registration Systems

Purchase Details

Closed on
Dec 12, 2005
Sold by
Sparks Leslie P
Bought by
Amin Gloria
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
Starlite Realty Corp $40,000 Now Title Agency
Starlite Realty Corp $40,000 Now Title Agency
Walker David $39,000 Embassy Title Agency Inc
Theodorou Pieris Theodoros $10,200 Active Title Agency Inc
Federal National Mortgage Association -- None Available
Citimortgage Inc $71,034 None Available
Moving On Up Llc -- None Available
Martin Matthew A $85,000 None Available
Martin Matthew A -- Colonial Title Company
In The Now Inc $30,000 Colonial Title Company
In The Now Inc -- Colonial Title Company
Bank Of New York -- None Available
Mortgage Electronic Registration Systems $108,900 None Available
Amin Gloria $135,000 Fatic
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner In The Now Inc $41,453
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/16/2021 04/16/21 Sold $39,000 -13.3% $18 / Sq Ft
04/01/2021 04/01/21 Pending -- -- --
07/09/2020 07/09/20 For Sale $45,000 +429.4% $21 / Sq Ft
10/17/2012 10/17/12 Sold $8,500 -99.2% $4 / Sq Ft View Prior Sale
09/16/2012 09/16/12 Pending -- -- --
07/11/2012 07/11/12 For Sale $1,000,000 -- $463 / 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 $3,513 $71,000 $0 $0
2024 $3,513 $58,700 $0 $0
2023 $3,662 $46,000 $0 $0
2022 $2,150 $41,100 $0 $0
2021 $1,881 $32,900 $0 $0
2020 $1,881 $30,300 $0 $0
2019 $1,852 $27,100 $0 $0
2018 $1,625 $24,000 $0 $0
2017 $310 $22,200 $0 $0
2016 $1,781 $19,000 $0 $0
2015 $1,900 $19,000 $0 $0
2013 $2,565 $25,645 $0 $0
2010 -- $37,599 $1,240 $36,359
Source: Public Records

Agents Affiliated with this Home

  • Robert LaBute

    Seller's Agent in 2021

    Robert LaBute

    Real Estate Management Specialists Inc

    (313) 533-6300

    10 in this area

    167 Total Sales

    Robert LaBute
    Section Image

  • R

    Buyer's Agent in 2021

    Renae Palmer

    Real Estate Management Specialists Inc

    (313) 414-6654

    1 in this area

    29 Total Sales

    Renae Palmer
    Section Image

  • J

    Seller's Agent in 2012

    Joel Root

    Keller Williams Realty Lakeside

    Section Image

  • .

    Buyer's Agent in 2012

    . Non Mls Member

    NON MLS MEMBER

See All Agents

Map

Source: Realcomp

MLS Number: 2200048355

Realcomp

APN: 21-067697

Michigan Wayne County Detroit 48224 Morningside

5040 Balfour Rd, Detroit, MI

This home is located at 5040 Balfour Rd, Detroit, MI 48224 since 09 July 2020 and is currently estimated at $155,367, approximately $71 per square foot. This property was built in 1939. 5040 Balfour Rd is a home located in Wayne County with nearby schools including Ronald Brown Academy, Edward 'Duke' Ellington Conservatory of Music and Art, and Charles L. Spain Elementary-Middle School.

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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