6 months on rocket

10551 Somerset Ave, Detroit, MI, 48224

$75,000

Home List Price

$891*

Closing Credit

1 Bedroom
2 Full Baths
1,098 SqFt
$68/SqFt
House

Location

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10551 Somerset Ave, Detroit$75,000

Buyer Closing Credits

$891*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
Year Built1940
HeatingForced Air
BasementYes
MLS #24024675
Lot Size0.11 Acres
StatusActive

About 10551 Somerset Ave

INVESTMENT OPPORTUNITY! Don't miss this excellent opportunity to acquire a cash-flowing rental property that offers both immediate income and long-term growth potential. Act quickly as properties like this are in high demand among savvy investors! Current renter is paying $825 per month and property has C of C. Please do not walk the property. Please do not approach the tenants. MUST HAVE AN ACCEPTED OFFER TO SHOW PROPERTY. Property was previously listed, financing fell through.

Property Details

Property Features

Property Information:

  • Architectural Style: Bungalow
  • Year Built: 1940
  • Stories: 2
  • Living Area: 1,098 SqFt

Listing Office:

  • Office Name: House of Realty LLC
  • Office Phone: (734) 526-3288
  • Listing Agent: Jonathan Golden

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 2
  • Total Bedroom Count: 1

Lot Features

Lot Information:

  • Lot Size: 0.11 Acres

Utilities

Utilities Information:

  • Heating: Forced Air

Other

Directions Information:

  • Directions: One Block west of Grayton

Price Information

Listing Price Info

Price Summary:

  • List Price: $75,000
  • Price Per SqFt: $68/SqFt

Tax Information:

  • Annual Amount: $2,702
  • 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

$85K

Med. Price/SqFt

$73

Avg. Days On Market

45

# of Sold Homes

475

10551 Somerset Ave vs Detroit

189 DAYS ON ROCKET

+144 Days

$75,000

-$10K Less

$68/SqFt

-$6 Less

KEY TAKEAWAY

This property is $10K less than the Median Sold Price and $6/SqFt less than other homes in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #24024675

Listing Office:

  • Office Name: House of Realty LLC
  • Office Phone: (734) 526-3288
  • Listing Agent: Jonathan Golden

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: 11/22/2024, 10:20:54 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

Feb 26, 2019Home Sold
$20,000

Tax History

YEARPROP. TAXASSESSMENT
2021$2,702$19,700
2020$1,272$18,300
2018$1,272$14,300
2017$1,266$11,700

History based on county public records data.

Payment Calculator

$442

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$291

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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-740798
1
/10

  • Marvin L Winans Academy Elementary School

  • 9740 McKinney St

  • 0.32 miles

  • Public Charter Grades KG-5

school-card-donut-740799
1
/10

  • Wayne Elementary School

  • 10633 Courville St

  • 0.46 miles

  • Public District Grades PK-5

school-card-donut-740800
1
/10

  • Carleton Elementary School

  • 11724 Casino St

  • 0.64 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $39,301. The majority of Detroit, MI residents have income less than $35k annually. The majority of families are single, no kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 10551 Somerset Ave

What is the listing price of this property?

The listing price of 10551 Somerset Ave property is $75,000.

What type of property is this?

The property 10551 Somerset Ave is a house located in Detroit, Michigan, 48224.

Is this property for sale now?

Active Listing: 10551 Somerset Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $2,702 (source: MLS/based on county public records data).

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

The last sale was on February 26, 2019 for $20,000. (source: MLS/tax record).

How many bedrooms and bathrooms does this property have?

The property at 10551 Somerset Ave has 1 bedroom and 2 bathrooms.

What is the square footage of this property?

The property 10551 Somerset Ave is 1,098 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 10551 Somerset Ave is 1940.

Rocket Homes›Michigan›Wayne County›Detroit›48224›10551 Somerset Ave

This home is located at 10551 Somerset Ave in Detroit, MI and zip code 48224 in the Denby neighborhood. This 1,098 square foot home, which was built in 1940, sits on a 0.11 acre lot. Features: 1 bedroom, 2 bathrooms. It has been listed on Rocket Homes since May 17, 2024 and is currently priced at $75,000.

Over 125 listings were sold over their listed price in October 2024 in Detroit, MI. In the same period over 257 listings were sold below the listed price and 93 listings were sold for the listed price. The number of listings in Detroit, MI increased by 11.2% between September 2024 and October 2024. Listings spent 45 days on the market in October 2024, and had a median list price of $85,000 during the same period.

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

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