14 days on rocket

506 Westminster St, Detroit, MI, 48202

$499,000

Home List Price

$5,926*

Closing Credit

0 Baths
Multi
Schools Nearby

Location

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506 Westminster St, Detroit$499,000

Buyer Closing Credits

$5,926*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1910
HeatingForced Air, Natural Gas
CoolingNone
BasementYes
MLS #24020988
Lot Size0.13 Acres
StatusActive

About 506 Westminster St

3/4 occupied. Nestled in Detroit's North End neighborhood, this fully leased quadplex is the perfect purchase for a savvy investor. Building received gut renovation in 2017. All 3 bed, 1 bath units have new plumbing, electrical, HVAC, Flooring, roofing, etc. Each unit has a dishwasher Washer dryer and storage in basement. Includes 2 gated off street parking. With a gross annual income of $58,080, this property is the perfect purchase for a savvy investor. Less than 10 minute drive to downtown Detroit, and a 5 minute drive to midtown, this investment opportunity is uniquely rare and one to take advantage of. Newly renovated quadplexes in the most desired neighborhoods in Detroit are moving quickly.

Property Details

Property Features

Property Information:

  • Year Built: 1910

Listing Office:

  • Office Name: Prep Realty
  • Office Phone: (313) 355-3004
  • Listing Agent: Ishma D Best

Interior Features

Interior Information:

  • Basement: Yes

Lot Features

Lot Information:

  • Lot: Corner Lot
  • Lot Size: 0.13 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas
  • Cooling: None

Other

Directions Information:

  • Directions: Brush St and Westminster

Price Information

Listing Price Info

Price Summary:

  • List Price: $499,000

Tax Information:

  • Annual Amount: $993
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Detroit, MI.

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Detroit, MI

City

Med. Sold Price

$81K

Med. Price/SqFt

$70

Avg. Days On Market

45

# of Sold Homes

426

506 Westminster St vs Detroit

14 DAYS ON ROCKET

-31 Days

$499,000

+$417.9K More

KEY TAKEAWAY

This property is $417.9K more than the Median Sold Price in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Michigan Regional Information Center (MichRIC)
  • MLS Number: #24020988

Listing Office:

  • Office Name: Prep Realty
  • Office Phone: (313) 355-3004
  • Listing Agent: Ishma D Best

Broker Reciprocity Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/15/2024, 2:20:40 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$993$20,400
2020$749$19,200
2018$749$13,900
2017$747$13,900

History based on county public records data.

Payment Calculator

$2,558

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,563

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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.

Nearby Schools

school-card-donut-1469717
2
/10

  • Henry Ford Academy:School For Creative Studies-Ele

  • 10225 3rd St

  • 0.79 miles

  • Public Charter Grades KG-5

school-card-donut-1469718
2
/10

  • Dickinson West Elementary School

  • 2333 Burger St

  • 1.03 miles

  • Public District Grades KG-6

school-card-donut-1469719
3
/10

  • Dickinson East Elementary School

  • 3385 Norwalk St

  • 1.49 miles

  • Public District Grades KG-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $29,390. Most Detroit, MI residents have annual incomes less than $35k. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Wayne County›Detroit›48202›506 Westminster St

This home is located at 506 Westminster St in Detroit, MI and zip code 48202 in the Alden Park neighborhood. This home, which was built in 1910, sits on a 0.13 acre lot. It has been listed on Rocket Homes since May 01, 2024 and is currently priced at $499,000.

In April 2024 more than 94 listings in Detroit, MI were sold above the asking price. During the same period more than 89 listings were sold at asking price, while more than 243 were sold below. The number of listings in Detroit, MI increased by 12.7% between March 2024 and April 2024. The median list price of listings available in April 2024 was $81,036, while the average time on the real estate market was 45 days.

From Rocket Homes Real Estate and based on county public records data.

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