NOT LISTED FOR SALE

5065 Somerset Ave Detroit, MI 48224

Morningside Neighborhood

Estimated Value: $116,000 - $141,000

4 Beds
2 Baths
2,437 Sq Ft
$53/Sq Ft Est. Value

Last Sold June 16, 2020

Last sale price $51,000 $21 Per Sq Ft

Est. 151% increase in value since last sale

Current estimated payment $951/month

75 Days on Market

Highlights

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

About This Home

As of June 2020

Check out this great investment property. It is an all brick 2-unit property with each unit over 1,200 sq. ft. 1949 Built home makes it newer than most others. Interior is in great condition. Two car garage. Very stable neighborhood. Both units currently rented month-to-month for $575/mo. each and tenants pay all utilities except water. Size and location merit much higher rent. Addresses are both 5065 (downstairs) and 5067 (upstairs)

Last Agent to Sell the Property

Mitchell Simmer

Real Estate One-W Blmfld License #6506015875 Listed on: 03/04/2020

Real Estate One-W Blmfld

Last Buyer's Agent

Erika Baker

Keller Williams Realty-Great Lakes License #RCO-6501370326

Keller Williams Realty-Great Lakes

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1949

Lot Details

  • 4,792 Sq Ft Lot
  • Lot Dimensions are 40.00x120.00

Home Design

  • Brick Exterior Construction
  • Block Foundation
  • Asphalt Roof

Interior Spaces

  • 2 Full Bathrooms
  • 2,437 Sq Ft Home
  • 2-Story Property
  • Partially Finished Basement
  • Basement Fills Entire Space Under The House

Parking

  • 2 Car Garage
  • On-Street Parking

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number W21I067514S

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 1949

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Upper/Lower Apartment
  • Architecture Level: 2 Story
  • Year Built: 1949
  • State Equalized Value: 28700.0000
  • 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: Common, Partially Finished
  • Sq Ft Combined: 2437
  • Total Sq Ft: 2437
  • Sq Ft Total Bsmt: 1255

Exterior Features

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

Garage/Parking

  • MF Parking: Garages, On Street, Paved
  • Total Parking Spaces: 2

Utilities

  • Heating Fuel: Natural Gas
  • Heating: Forced Air, Separate Meters
  • 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: 590909.0909
  • Lot Size Area: 0.11
  • Lot Dimensions: 40.00X120.00
  • Parcel Number: W21I067514S
  • Zone Conform: Yes
  • Zoning: Multi-Family

Rental Info

  • Rent Includes: Water/Sewer
  • Monthly Rental Income: 1500

Tax Info

  • Tax Amount Summer: 1582.0000
  • Tax Amount Winter: 149.0000
  • Total Tax: 1731.0000
  • Taxable Value: 15717.0000

Multi Family

  • Gross Scheduled Income: 18000.00
  • Number Of Units Total: 2
  • Unit Count: 2
  • Number of Two Bedroom Units: 2
  • Number Of Units Leased: 2

MLS Schools

  • School District: Detroit

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 13, 2020
Sold by
Opera Rumbe Llc
Bought by
Noviembre Llc
Current Estimated Value
$128,171

Purchase Details

Listed on
Mar 4, 2020
Closed on
Jun 16, 2020
Sold by
Wigod Francine and The Martin Marx Trust
Bought by
Opera Rumba Llc
Seller's Agent
Mitchell Simmer
Real Estate One-W Blmfld
Buyer's Agent
Erika Baker
Keller Williams Realty-Great Lakes
List Price
$70,000
Sold Price
$51,000
Premium/Discount to List
-$19,000
-27.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.47%

Purchase Details

Closed on
Jan 3, 2013
Sold by
Marx Martin
Bought by
Marx Martin and Martin Marx Trust

Purchase Details

Closed on
Sep 6, 2012
Sold by
Crain Robert E and Crain Frances
Bought by
Marx Martin
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
Noviembre Llc $86,000 Regions Title Agency Llc
Opera Rumba Llc $51,000 None Available
Marx Martin -- None Available
Marx Martin $14,000 None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/16/2020 06/16/20 Sold $51,000 -21.5% $21 / Sq Ft
05/18/2020 05/18/20 Pending -- -- --
03/17/2020 03/17/20 Price Changed $65,000 -7.1% $27 / Sq Ft
03/04/2020 03/04/20 For Sale $70,000 -- $29 / 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 $3,094 $69,600 $0 $0
2024 $3,094 $54,600 $0 $0
2023 $3,254 $45,100 $0 $0
2022 $3,491 $43,800 $0 $0
2021 $1,934 $34,900 $0 $0
2020 $1,757 $32,200 $0 $0
2019 $1,731 $28,700 $0 $0
2018 $1,522 $25,400 $0 $0
2017 $285 $23,400 $0 $0
2016 $1,666 $17,500 $0 $0
2015 $1,750 $17,500 $0 $0
2013 $2,365 $23,650 $0 $0
2010 -- $34,674 $1,206 $33,468
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2020

    Mitchell Simmer

    Real Estate One-W Blmfld

    Section Image
  • Erika Baker

    Buyer's Agent in 2020

    Erika Baker

    Keller Williams Realty-Great Lakes

    (248) 929-4493

    16 in this area

    500 Total Sales

    Erika Baker
    Section Image
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Map

Source: Realcomp

MLS Number: 2200016023

Realcomp

APN: 21-067514

Michigan Wayne County Detroit 48224 Morningside

5065 Somerset Ave, Detroit, MI

This home is located at 5065 Somerset Ave, Detroit, MI 48224 since 04 March 2020 and is currently estimated at $128,171, approximately $52 per square foot. This property was built in 1949. 5065 Somerset Ave 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.

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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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