NOT LISTED FOR SALE

5508 University Place Detroit, MI 48224

Cornerstone Village Neighborhood

Estimated Value: $69,000 - $81,000

3 Beds
1 Bath
880 Sq Ft
$86/Sq Ft Est. Value

Last Sold November 06, 2015

Last sale price $5,050 $6 Per Sq Ft

Est. 1,401% increase in value since last sale

Current estimated payment $550/month

Highlights

  • No HOA
  • 1 Car Detached Garage
  • Forced Air Heating System
  • Cass Technical High School Rated 10
  • Bungalow

About This Home

As of May 2024

Move-in ready on Detroit's East side in Cornerstone Village. Restaurants, shopping and main thoroughfares nearby. Appliances included! Lease application required. $35 application fee per adults, age 18 and older. We will conduct a credit and background check. Credit is a factor! Minimum 600 credit score with no collections, evictions, repossessions, liens, charge-offs, or judgments of any kind and no issues with DTE, credit criteria also applies to co-applicants. Income to equal or exceed 3 times the rent. ***Sorry no pets and no section 8.*** This property is professionally managed by the Listing Broker. No smoking in any of our properties.

Last Agent to Rent the Property

Sandra McGee

The Home Store Inc. License #6501350241 Listed on: 03/27/2024

Last Renter's Agent

Timia Carter

License #6501449880

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,678

Year Built

  • Built in 1939

Lot Details

  • 4,792 Sq Ft Lot
  • Lot Dimensions are 35.00 x 134.00

Parking

  • 1 Car Detached Garage

Home Design

  • Bungalow
  • Block Foundation
  • Vinyl Construction Material

Interior Spaces

  • 880 Sq Ft Home
  • 1.5-Story Property
  • Unfinished Basement

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 1 Full Bathroom

Location

  • Ground Level

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Sewer in Street

Community Details

  • No Home Owners Association
  • Marseilles Park Subdivision

Listing and Financial Details

  • Security Deposit $1,800
  • 12 Month Lease Term
  • Application Fee: 35.00
  • Assessor Parcel Number W21I077356S

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,678

Year Built

Built in 1939

Lot Details

0

Rental Info

  • Application Fee: 35.00
  • Lease Type: Single Family House
  • Security Deposit: 1800.00

Listing Details

  • Property Type: Residential
  • Architecture Style: Bungalow
  • Architecture Level: 1 1/2 Story
  • Year Built: 1939
  • Entry Location: Ground Level w/Steps
  • Pets Allowed: No
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Room Count: 5
  • Total Bedrooms: 3
  • Total Bathrooms: 1.00
  • Full Bathrooms: 1
  • Basement: Yes
  • Basement Type: Unfinished
  • Sq Ft Combined: 880
  • Total Sq Ft: 880
  • Sq Ft Total Bsmt: 704

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Aluminum, Vinyl
  • Foundation Materials: Block
  • Frontage Feet: 35
  • Road Frontage Type: Paved

Garage/Parking

  • Garage Size: 1 Car
  • Garage Features: Detached
  • Garage: Yes

Utilities

  • Heating Fuel: Natural Gas
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary), Sewer at Street
  • Water Source: Public (Municipal)

Condo/Co-op/Association

  • Association Fee: No

Fee Information

  • Additional Fee: 17.50

Schools

  • School District: Detroit

Lot Info

  • Lot Size Area: 0.11
  • Lot Dimensions: 35.00 x 134.00
  • Parcel Number: W21I077356S

Multi Family

  • Length of Lease: 12 Months

MLS Schools

  • School District: Detroit

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 27, 2024
Sold by
Ali Nadir
Bought by
Clark Thomas
Current Estimated Value
$75,793

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$52,500
Outstanding Balance
$51,622
Interest Rate
6.6%
Mortgage Type
Construction
Estimated Equity
$24,171

Purchase Details

Closed on
Jul 9, 2021
Sold by
Horton Lakisscha
Bought by
Ali Nadir

Purchase Details

Listed on
Sep 15, 2015
Closed on
Nov 4, 2015
Sold by
Secretary Of Housing & Urban Development
Bought by
Horton Lakisscha
Seller's Agent
Erick Monzo
Keller Williams Realty Great Lakes
Buyer's Agent
. Non Mls Member
NON MLS Member
List Price
$5,000
Sold Price
$5,050
Premium/Discount to List
$50
1%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
31.65%

Purchase Details

Closed on
Jan 17, 2013
Sold by
Bank Of America Na
Bought by
The Secretary Of Housing & Urban Develop

Purchase Details

Closed on
Jul 5, 2012
Sold by
Coleman Leonard
Bought by
Bank Of America Na

Purchase Details

Closed on
Dec 2, 2009
Sold by
Coleman Leonard
Bought by
Coleman Leonard and Coleman Wanda
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
Clark Thomas $70,000 None Listed On Document
Clark Thomas $70,000 None Listed On Document
Ali Nadir $35,000 None Available
Horton Lakisscha $5,500 Red Carpet Title Agency Llc
The Secretary Of Housing & Urban Develop -- Attorney
Bank Of America Na $72,070 None Available
Coleman Leonard -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Clark Thomas $52,500
Closed Clark Thomas $52,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/01/2024 05/01/24 Rented $1,200 0.0% --
04/19/2024 04/19/24 Under Contract -- -- --
03/27/2024 03/27/24 For Rent $1,200 0.0% --
11/06/2015 11/06/15 Sold $5,050 +1.0% $5 / Sq Ft
09/21/2015 09/21/15 Pending -- -- --
09/15/2015 09/15/15 For Sale $5,000 -- $5 / 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 $1,678 $34,600 $0 $0
2024 $1,678 $29,800 $0 $0
2023 $1,630 $22,200 $0 $0
2022 $1,743 $17,200 $0 $0
2021 $1,253 $13,500 $0 $0
2020 $1,052 $12,200 $0 $0
2019 $1,037 $10,300 $0 $0
2018 $918 $8,800 $0 $0
2017 $169 $8,900 $0 $0
2016 $1,228 $13,000 $0 $0
2015 $1,300 $13,000 $0 $0
2013 $1,847 $18,472 $0 $0
2010 -- $27,083 $933 $26,150
Source: Public Records

Agents Affiliated with this Home

  • S

    Landlord's Agent in 2024

    Sandra McGee

    The Home Store Inc.

    (313) 580-6029

    42 Total Sales

    Sandra McGee
    Section Image

  • T

    Tenant's Agent in 2024

    Timia Carter

    (313) 410-2828

    1 Total Sale

    Timia Carter
    Section Image

  • E

    Seller's Agent in 2015

    Erick Monzo

    Keller Williams Realty Great Lakes

    Section Image

  • .

    Buyer's Agent in 2015

    . Non Mls Member

    NON MLS Member

See All Agents

Map

Source: Realcomp

MLS Number: 20240019194

Realcomp

APN: 21-077356

Michigan Wayne County Detroit 48224 Cornerstone Village

5508 University Place, Detroit, MI

This home is located at 5508 University Place, Detroit, MI 48224 since 27 March 2024 and is currently priced at $75,793. This property was built in 1939. 5508 University Place is a home located in Wayne County with nearby schools including Marquette Elementary-Middle School, 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
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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