25 days on rocket

Sale Pending

5531 Drexel St, Detroit, MI, 48213

$49,900

Home List Price

$593*

Closing Credit

3 Bedrooms
1 Full Bath
1,266 SqFt
$39/SqFt
House
Schools Nearby

Location

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5531 Drexel St, Detroit$49,900

Buyer Closing Credits

$593*

1.25% Loan Amount

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Property Highlights

Home TypeResidential
Year Built1933
HeatingNatural Gas, Hot Water
BasementYes
MLS #20240021042
Lot Size0.08 Acres
StatusSale Pending
(Pending)

About 5531 Drexel St

Discover potential at 5531 Drexel, Detroit, located across from the 4th largest park in Detroit, Chandler Park! Newer flooring & newer carpet throughout. Nestled in the heart of a warm and close-knit community, this residence offers convenient access to local parks, schools, shopping, and dining. With some minor repairs and TLC, this property serves as a great investment opportunity or a place to call home! Property is sold as-is. BATVAI.

Property Details

Property Features

Property Information:

  • Architectural Style: Bungalow
  • Year Built: 1933
  • Stories: 2
  • Living Area: 1,266 SqFt

Listing Office:

  • Office Name: EXP Realty LLC
  • Office Phone: (888) 501-7085
  • Listing Agent: Jay Naim

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 3

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 0.08 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas, Hot Water

Other

Directions Information:

  • Directions: Travel North on Dickerson Ave, make a right on Southampton St, then a left on Drexel

Price Information

Listing Price Info

Price Summary:

  • List Price: $49,900
  • Price Per SqFt: $39/SqFt

Tax Information:

  • Annual Amount: $1,192
  • 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

$80.1K

Med. Price/SqFt

$69

Avg. Days On Market

49

# of Sold Homes

392

5531 Drexel St vs Detroit

25 DAYS ON ROCKET

-24 Days

$49,900

-$30.2K Less

$39/SqFt

-$31 Less

KEY TAKEAWAY

This property is $30.2K less than the Median Sold Price and $31/SqFt less than other homes in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Realcomp II Ltd
  • MLS Number: #20240021042

Listing Office:

  • Office Name: EXP Realty LLC
  • Office Phone: (888) 501-7085
  • Listing Agent: Jay Naim

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2024 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2024, 6:25:19 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 27, 2019Home Sold
$30,800
Mar 21, 2019Home Sold
$16,000

Tax History

YEARPROP. TAXASSESSMENT
2021$1,192$6,100
2020$694$6,500
2018$694$5,400
2017$598$5,400

History based on county public records data.

Payment Calculator

$317

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$216

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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.

Nearby Schools

school-card-donut-2923713
1
/10

  • Marvin L. Winans Academy of Performing Arts Elementary School

  • 9740 Mckinney St

  • 1.56 miles

  • Public Charter Grades KG-5

school-card-donut-2923714
5
/10

  • George Defer Elementary School

  • 15425 Kercheval Ave

  • 1.82 miles

  • Public District Grades KG-5

school-card-donut-2923715
8
/10

  • Lewis Marie Elementary School

  • 740 Cadieux Rd

  • 2.54 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $20,300. Typical income of Detroit, MI residents is less than $35k annually. Most families are single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 5531 Drexel St

What is the listing price of this property?

The listing price of 5531 Drexel St property is $49,900.

What type of property is this?

The property 5531 Drexel St is a house located in Detroit, Michigan, 48213.

Is this property for sale now?

Sale Pending: 5531 Drexel St is Sale Pending (Pending), which means that the seller has accepted an offer but the sale is not finalized.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $1,192 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on March 27, 2019 for $30,800. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 5531 Drexel St has 3 bedrooms and 1 bathroom.

What is the square footage of this property?

The property 5531 Drexel St is 1,266 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 5531 Drexel St is 1933.

Rocket Homes›Michigan›Wayne County›Detroit›48213›5531 Drexel St

This home is located at 5531 Drexel St in Detroit, MI and zip code 48213 in the Chandler Park neighborhood. This 1,266 square foot home, which was built in 1933, sits on a 0.08 acre lot. Features: 3 bedrooms, 1 bathroom. It has been listed on Rocket Homes since April 03, 2024 and is currently priced at $49,900.

While more than 94 listings in Detroit, MI in March 2024 were sold above asking price, there were more than 74 listings sold at asking price, and more than 224 were sold below. In March 2024 in Detroit, MI there were 10.7% more homes for sale than in February 2024. While the average time on the market in March 2024 was 49 days, the median list price was $80,163.

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

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