Prime Investment Opportunity! Become the proud owner of this fully updated 5-unit apartment building, featuring modern energy-efficient appliances, a new furnace, and hot water tank. With all major updates completed, no repairs are needed—unless you choose to make enhancements! Each unit is fully occupied with responsible tenants, ensuring immediate income. Whether you prefer to maintain these units as rentals or explore the potential of converting them to condos (with city approval), the possibilities are endless. Conveniently located near major expressways, just 15 minutes from downtown Detroit, and 20 minutes from Detroit Metropolitan Airport.
This property is $414.9K more than the Median Sold Price and $19/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: #20240069400
Listing Office:
Office Name: KW Domain
Office Phone: (248) 590-0800
Listing Agent: Christina Gennari
Disclaimer: 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.
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$2,562
Per Month
Principal & Interest
$2,495
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
$1,565
Powered By
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
1
/10
George Washington Carver Elementary School
14510 2nd Ave
Distance between this listing and this school1.20 miles
Public Charter Grades PK-4
3
/10
Bagley Elementary School of Journalism and Technology
8100 Curtis St
Distance between this listing and this school1.60 miles
Public District Grades PK-6
2
/10
Pasteur Elementary School
19811 Stoepel St
Distance between this listing and this school1.87 miles
Public District Grades PK-6
Nearby Schools
1
/10
Paul Robeson Malcolm X Academy
2585 Grove St
Distance between this listing and this school0.19 miles
Public District Grades PK-8
1
/10
Thurgood Marshall-Elementary School
15531 Linwood St
Distance between this listing and this school0.67 miles
Public District Grades PK-8
2
/10
Palmer Park Preparatory Academy
3901 Margareta St
Distance between this listing and this school1.12 miles
Public District Grades 5-8
Nearby Schools
5
/10
Joy Preparatory Academy
15055 Dexter Ave
Distance between this listing and this school1.13 miles
Public Charter Grades PK-12
4
/10
The School at Marygrove
8425 W McNichols Rd
Distance between this listing and this school1.58 miles
Public District Grades 9-12
2
/10
Mumford High School
17525 Wyoming St
Distance between this listing and this school2.12 miles
The neighbors living near this home have an average income of $42,065. Typical income of Detroit, MI residents is less than $35k annually. The most common type of family is single, no kids. The most common level of education of people living in this area is post secondary degree.
This home is located at 16810 Baylis St in Detroit, MI and zip code 48221 in the McNichols neighborhood. This 5,352 square foot home, which was built in 1927, sits on a 0.17 acre lot. Features: 5 bathrooms. It has been listed on Rocket Homes since September 17, 2024 and is currently priced at $499,900.
In October 2024, from all listings sold in Detroit, MI there were more than 125 sold above asking price, over 257 sold below and more than 93 were sold right at the asked price. The number of listings in Detroit, MI increased by 11.2% between September 2024 and October 2024. The median list price of listings available in October 2024 was $85,000, while the average time on the real estate market was 45 days.
From Rocket Homes Real Estate and based on county public records data.