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Backup Offers

7345 Penrod St, Detroit, MI, 48228

$69,900

Home List Price

$830*

Closing Credit

2 Bedrooms
1 Full Bath
800 SqFt
$87/SqFt
House
Schools Nearby

Location

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7345 Penrod St, Detroit$69,900

Buyer Closing Credits

$830*

1.25% Loan Amount

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Property Highlights

Home TypeResidential
Year Built1939
HeatingNatural Gas, Forced Air
BasementYes
MLS #20230104831
Lot Size0.12 Acres
StatusAccepting Backup Offers

About 7345 Penrod St

Amazing investment opportunity! This property is an instant cashflow opportunity. Property is TENANT OCCUPIED with guaranteed rent at $1000/mo with a Supportive Housing Society, lease expires June 2024. Professionally managed rental. Property being sold as is. All dimensions are estimated and should be verified. Pictures of home taken before tenant moved in. **Showings only with accepted offer. Property is tenant occupied, please respect their privacy.** Can be packaged with two other occupied rental properties - see MLS# 20230104834 & 20230104833

Property Details

Property Features

Property Information:

  • Architectural Style: Bungalow
  • Year Built: 1939
  • Stories: 1
  • Living Area: 800 SqFt

Listing Office:

  • Office Name: Home Source Realty LLC
  • Office Phone: (313) 384-5731
  • Listing Agent: Bailee Clanton

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 2

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 0.12 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas, Forced Air

Other

Directions Information:

  • Directions: N of Warren / W of Southfield

Price Information

Listing Price Info

Price Summary:

  • List Price: $69,900
  • Price Per SqFt: $87/SqFt

Tax Information:

  • Annual Amount: $615
  • Tax Year: 2021
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Housing Market Comparison

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

Med. Sold Price

$80K

Med. Price/SqFt

$69

Avg. Days On Market

49

# of Sold Homes

370

7345 Penrod St vs Detroit

24 DAYS ON ROCKET

-25 Days

$69,900

-$10.1K Less

$87/SqFt

+$17 More

KEY TAKEAWAY

This property is $10.1K less than the Median Sold Price and $17/SqFt more 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: #20230104831

Listing Office:

  • Office Name: Home Source Realty LLC
  • Office Phone: (313) 384-5731
  • Listing Agent: Bailee Clanton

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: 3/28/2024, 2:20:28 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Dec 17, 2019Home Sold
$48,000
Mar 06, 2019Home Sold
$37,500
Nov 26, 2018Home Sold
$13,500

Tax History

YEARPROP. TAXASSESSMENT
2021$615$10,800
2020$820$10,100
2018$820$8,500
2017$838$8,600

History based on county public records data.

Payment Calculator

$416

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$276

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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-7602033
6
/10
  • River Oaks Elementary School

  • 20755 Ann Arbor Trl

  • 1.40 miles

  • Public District Grades PK-5

school-card-donut-7602034
7
/10
  • Maples Elementary School

  • 6801 Mead St

  • 1.50 miles

  • Public District Grades PK-5

school-card-donut-7602035
6
/10
  • Oakman Elementary School

  • 7545 Chase Rd

  • 1.70 miles

  • Public District Grades PK-5

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $56,836. Typical income of Detroit, MI residents is between $35k-100k annually. The majority of 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 7345 Penrod St

What is the listing price of this property?

The listing price of 7345 Penrod St property is $69,900.

What type of property is this?

The property 7345 Penrod St is a house located in Detroit, Michigan, 48228.

Is this property for sale now?

Accepting Backup Offers: 7345 Penrod St is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $615 (source: MLS/based on county public records data).

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

The last sale was on December 17, 2019 for $48,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 7345 Penrod St has 2 bedrooms and 1 bathroom.

What is the square footage of this property?

The property 7345 Penrod St is 800 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 7345 Penrod St is 1939.

Rocket Homes›Michigan›Wayne County›Detroit›48228›7345 Penrod St

This home is located at 7345 Penrod St in Detroit, MI and zip code 48228 in the West Central neighborhood. This 800 square foot home, which was built in 1939, sits on a 0.12 acre lot. Features: 2 bedrooms, 1 bathroom. It has been listed on Rocket Homes since March 03, 2024 and is currently priced at $69,900.

Detroit, MI housing market in February 2024 saw over 98 listings sold above listed price, more than 78 sold at listed price and over 194 sold below. Between January 2024 and February 2024, Detroit, MI real estate market has seen increase in the number of listings by 12.4%. The median list price of listings available in February 2024 was $80,002, while the average time on the real estate market was 49 days.

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

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