The lower unit has 3 good sized bedrooms and the upper unit has 2 bedrooms. This spectacular investment property is located very close to downtown Detroit. It's a perect location for live/work space. It would be a great place to rent or Airbnb. It has endless potential with a full basement accessible from both units; and open attic space that is accessible from the upper unit. There is a driveway where at least 3 cars can park and there is plenty of off street parking. Bring your paint brush, dumpster and decorating skills and have immediate sweat equity! This is a diamond in the rough located in a great redeveloping area near downtown. It could be an amazing rental, work-live space or Airbnb if renovated. Gain sweat equity in this two-family flat with an upper and lower unit. The property is being sold as-is whereas. The lower unit has a spacious living room and dining area that is open with high ceilings. There is hardwood floors and a good sized kitchen. The bedrooms are a generous size given the year built. There is a dedicated driveway and spacious backyard. The upper unit has high ceilings, a separate entrance and good sized rooms. Bring your paint, dumpster and decorating ideas to this wonderful home.
Property Details
Property Features
Property Information:
Year Built: 1914
Listing Office:
Office Name: Nextpointe Real Estate Service
Office Phone: (248) 298-5000
Listing Agent: Jaye Sanders
Interior Features
Interior Information:
Basement: Yes
Lot Features
Lot Information:
Lot Size: 0.13 Acres
Utilities
Utilities Information:
Heating: Hot Water, Gravity, Natural Gas
Other
Directions Information:
Directions: Subject is South off McDougall between Forest Ave. and Canfield Street.
Price Information
Listing Price Info
Price Summary:
List Price: $64,900
Tax Information:
Annual Amount: $2,358
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Detroit, MI.
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$391
Per Month
Principal & Interest
$324
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$261
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
7
/10
The James and Grace Lee Boggs School
4141 Mitchell St
Distance between this listing and this school0.27 miles
Public Charter Grades KG-4
4
/10
University Preparatory Science and Math - Elementa
2251 Antietam Ave
Distance between this listing and this school1.18 miles
Public Charter Grades KG-5
7
/10
Oakland International Academy - Elementary School
4001 Miller St
Distance between this listing and this school1.82 miles
Public Charter Grades 2-4
Nearby Schools
2
/10
Plymouth Educational Center
1460 E Forest Ave
Distance between this listing and this school0.81 miles
Public Charter Grades KG-8
4
/10
University Preparatory Academy (Psad) - Middle School
5310 Saint Antoine St
Distance between this listing and this school1.28 miles
Public Charter Grades 6-8
7
/10
University Preparatory Science and Math (PSAD) Middle School
5100 John R St
Distance between this listing and this school1.55 miles
Public Charter Grades 6-8
Nearby Schools
6
/10
Detroit Edison Public School Academy
1903 Wilkins St
Distance between this listing and this school0.94 miles
Public Charter Grades PK-12
2
/10
University Preparatory Science and Math (PSAD) High School
2664 Franklin St
Distance between this listing and this school2.03 miles
Public Charter Grades 9-12
3
/10
University Preparatory Academy (Psad)-High School
600 Antoinette St
Distance between this listing and this school2.08 miles
The neighbors living near this home have an average income of $9,571. Residents of Detroit, MI typically earn less than $35k each year. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.
This home is located at 3137 Garfield St in Detroit, MI and zip code 48207 in the Downtown neighborhood. This home, which was built in 1914, sits on a 0.13 acre lot. It has been listed on Rocket Homes since January 29, 2024 and is currently priced at $64,900.
Over 94 listings were sold over their listed price in April 2024 in Detroit, MI. In the same period over 243 listings were sold below the listed price and 89 listings were sold for the listed price. The inventory of homes for sale in Detroit, MI between March 2024 and April 2024 increased by 12.7%. Listings spent 45 days on the market in April 2024, and had a median list price of $81,036 during the same period.
From Rocket Homes Real Estate and based on county public records data.