NOT LISTED FOR SALE

5566 Lakewood St Detroit, MI 48213

Chandler Park Neighborhood

Estimated Value: $84,000 - $131,000

6 Beds
2 Baths
2,486 Sq Ft
$43/Sq Ft Est. Value

Last Sold July 24, 2023

Last sale price $110,000 $44 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $613/month

66 Days on Market

Highlights

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

About This Home

As of July 2023

Amazing investment opportunity! This duplex is an instant cashflow opportunity. Property includes two 3BR/1BA units, both TENANT OCCUPIED at $800/mo ($1600/mo total income). Professionally managed rental. Property being sold as is. All dimensions are estimated and should be verified. Pictures of inside of home from before tenants moved in. **Showings only with accepted offer. Both units are tenant occupied, please respect their privacy. ***Can be purchased as part of a package deal with two other tenant occupied single family homes in Detroit (see MLS# 20230026770 , 20230026687). Seller prefers to sell all three properties together, but will listen to all offers.

Last Agent to Sell the Property

Bailee Clanton

Home Source Realty LLC License #6501446602 Listed on: 04/11/2023

Last Buyer's Agent

Marnette Watkins Cobb

Cobb Realty Group License #6501384095

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1925

Lot Details

  • 4,356 Sq Ft Lot
  • Lot Dimensions are 40.00 x 108.00

Parking

  • 1 Car Garage

Home Design

  • Duplex
  • Brick Exterior Construction
  • Block Foundation

Interior Spaces

  • 2 Full Bathrooms
  • 2,486 Sq Ft Home
  • 2-Story Property
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Assessor Parcel Number W21I054701S

Community Details

Overview

  • 2 Units
  • Werner's Park Sub Subdivision

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$24

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Duplex
  • Architecture Level: 2 Story
  • Year Built: 1925
  • State Equalized Value: 300.0000
  • 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: Unfinished, Common
  • Sq Ft Combined: 2486
  • Total Sq Ft: 2486
  • Sq Ft Total Bsmt: 1215

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Brick
  • Foundation Materials: Block
  • Road Frontage Type: Paved

Garage/Parking

  • Garage: Yes
  • Total Parking Spaces: 1

Utilities

  • Heating Fuel: Natural Gas
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Source: Public (Municipal)
  • Laundry Facilities: No

Schools

  • School District: Detroit

Lot Info

  • Lot Size Area: 0.10
  • Lot Dimensions: 40.00 x 108.00
  • Parcel Number: W21I054701S
  • Zoning: Multi-Family

Rental Info

  • Monthly Rental Income: 1600

Tax Info

  • Tax Amount Summer: 21.0000
  • Tax Amount Winter: 3.0000
  • Total Tax: 24.0000
  • Taxable Value: 300.0000

Multi Family

  • Gross Scheduled Income: 19200.00
  • Number Of Units Total: 2
  • Number of Three 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
Apr 12, 2021
Sold by
Gisodale Llc
Bought by
Carpinvest Llc
Current Estimated Value
$111,589

Purchase Details

Listed on
Jan 6, 2020
Closed on
Jul 28, 2020
Sold by
Hernandez Jesus David
Bought by
Gisodale Llc
Seller's Agent
Susan Leithauser
Berkshire Hathaway HomeServices The Loft Warehouse
Buyer's Agent
Adelaido Campos
Munoz Realty Inc
List Price
$49,000
Sold Price
$30,000
Premium/Discount to List
-$19,000
-38.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
29.14%

Purchase Details

Closed on
Apr 22, 2020
Sold by
Norris Wanda D
Bought by
Hernandez Jesus David

Purchase Details

Closed on
Dec 11, 2018
Sold by
Janus Equity Holdings
Bought by
Hernandez Jesus David

Purchase Details

Closed on
Dec 2, 2016
Sold by
Charter County Of Wayne Treasurer Of The
Bought by
Janus Equity Holdings

Purchase Details

Closed on
Nov 7, 2013
Sold by
Wayne County Treasurer
Bought by
Norris Wanda D
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
Carpinvest Llc $69,300 None Available
Gisodale Llc $30,000 None Available
Hernandez Jesus David -- None Available
Hernandez Jesus David $57,000 None Available
Janus Equity Holdings $3,100 None Available
Norris Wanda D $500 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Fountain Kenny $82,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/24/2023 07/24/23 Sold $110,000 -6.8% $44 / Sq Ft
06/16/2023 06/16/23 Pending -- -- --
04/11/2023 04/11/23 For Sale $118,000 +293.3% $47 / Sq Ft
07/28/2020 07/28/20 Sold $30,000 +0.3% $12 / Sq Ft
07/08/2020 07/08/20 Pending -- -- --
07/03/2020 07/03/20 Price Changed $29,900 -12.1% $12 / Sq Ft
06/24/2020 06/24/20 Price Changed $34,000 -14.8% $14 / Sq Ft
06/11/2020 06/11/20 Price Changed $39,900 -18.6% $16 / Sq Ft
04/30/2020 04/30/20 For Sale $49,000 0.0% $20 / Sq Ft
02/06/2020 02/06/20 Pending -- -- --
01/28/2020 01/28/20 For Sale $49,000 0.0% $20 / Sq Ft
01/19/2020 01/19/20 Pending -- -- --
01/06/2020 01/06/20 For Sale $49,000 -- $20 / 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 $23 $800 $0 $0
2024 $23 $300 $0 $0
2023 $23 $300 $0 $0
2022 $26 $300 $0 $0
2021 $26 $300 $0 $0
2020 $26 $300 $0 $0
2019 $203 $300 $0 $0
2018 $23 $300 $0 $0
2017 $6 $300 $0 $0
2016 $678 $4,000 $0 $0
2015 $400 $4,000 $0 $0
2013 $1,188 $18,703 $0 $0
2010 -- $27,421 $720 $26,701
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2023

    Bailee Clanton

    Home Source Realty LLC

    (313) 774-4005

    2 in this area

    84 Total Sales

    Section Image
  • Marnette Watkins Cobb

    Buyer's Agent in 2023

    Marnette Watkins Cobb

    Cobb Realty Group

    (313) 443-1630

    1 in this area

    120 Total Sales

    Section Image

  • S

    Seller's Agent in 2020

    Susan Leithauser

    Berkshire Hathaway HomeServices The Loft Warehouse

    (313) 770-4009

    61 Total Sales

    Section Image

  • A

    Buyer's Agent in 2020

    Adelaido Campos

    Munoz Realty Inc

    (313) 914-7545

    5 Total Sales

    Section Image
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Map

Source: Realcomp

MLS Number: 20230026147

Realcomp

APN: 21-054701

Michigan Wayne County Detroit 48213 Chandler Park

5566 Lakewood St, Detroit, MI

This home is located at 5566 Lakewood St, Detroit, MI 48213 since 11 April 2023 and is currently estimated at $107,847, approximately $43 per square foot. This property was built in 1925. 5566 Lakewood St is a home located in Wayne County with nearby schools including Edward 'Duke' Ellington Conservatory of Music and Art, Carstens Academy of Aquatic Science, 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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