2 months on rocket

1705 Oakman Blvd, Detroit, MI, 48238

$675,000

Home List Price

$8,016*

Closing Credit

13 Full Baths, 13 Partial
8,748 SqFt
$77/SqFt
Multi

Location

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1705 Oakman Blvd, Detroit$675,000

Buyer Closing Credits

$8,016*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1927
HeatingNatural Gas, Radiant, Floor Furnace
BasementYes
MLS #20240066483
Lot Size0.14 Acres
StatusActive

About 1705 Oakman Blvd

Great Investment Opportunity: 13-Unit Apartment Complex in Oakman Historical District Check out this fantastic 13-unit apartment building in the Oakman Historical District of Detroit. It’s a solid investment with 10 out of the 13 units currently rented, so you’ll start earning right away! Taxes $3,800 annually Insurance $6,000 annually Gas $12,000 annually Electric $2,400 Annually Water $9,600 annually Units 1, 7, 3, 10 are vacant Unit 2 the building manager lives in and would like to stay, he takes care of the building and grounds in exchange for housing, has been there 20 years units 6 and 13 pay $600 monthly remaining units pay $500 monthly Boiler in basement, original plumbing, fixed when needed and well maintained, newer electrical boxes Not a government rent controlled building and no tenants are section 8 All units are the same layout, 1 bed 1 bath, some have carpet, some have wood floors. Tenants pay electric and cooking gas. windows are 4 years old, roof is under 10 years old Located in a charming historic neighborhood with lots of character. This property combines historical appeal with recent upgrades and offers great rental income potential. It’s a smart choice for anyone looking to invest in a growing area!

Property Details

Property Features

Property Information:

  • Architectural Style: Historic
  • Year Built: 1927
  • Stories: 3
  • Living Area: 8,748 SqFt

Listing Office:

  • Office Name: RE/MAX Leading Edge
  • Office Phone: (313) 277-7777
  • Listing Agent: Charlotte Tumminello

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Partial Bathrooms: 13
  • Full Bathrooms: 13

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 0.14 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas, Radiant, Floor Furnace

Other

Directions Information:

  • Directions: North on Linwood, West on Oakman

Price Information

Listing Price Info

Price Summary:

  • List Price: $675,000
  • Price Per SqFt: $77/SqFt

Tax Information:

  • Annual Amount: $2,709
  • 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

1705 Oakman Blvd vs Detroit

72 DAYS ON ROCKET

+27 Days

$675,000

+$590K More

$77/SqFt

+$3 More

KEY TAKEAWAY

This property is $590K more than the Median Sold Price and $3/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: #20240066483

Listing Office:

  • Office Name: RE/MAX Leading Edge
  • Office Phone: (313) 277-7777
  • Listing Agent: Charlotte Tumminello

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: 11/17/2024, 11:20:52 AM 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$2,709$107,900
2020$2,543$85,600
2018$2,543$33,500
2017$2,528$31,300

History based on county public records data.

Payment Calculator

$3,436

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,090

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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-381147
1
/10

  • George Washington Carver Elementary School

  • 14510 2nd Ave

  • 1.44 miles

  • Public Charter Grades PK-4

school-card-donut-381148
2
/10

  • University Preparatory Art Design Elementary School

  • 10225 3rd St

  • 1.84 miles

  • Public Charter Grades KG-5

school-card-donut-381149
3
/10

  • Bagley Elementary School of Journalism and Technology

  • 8100 Curtis St

  • 2.36 miles

  • Public District Grades PK-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $25,385. The most common annual income of people living in Detroit, MI is less than $35k. Typical family type is single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Wayne County›Detroit›48238›1705 Oakman Blvd

This home is located at 1705 Oakman Blvd in Detroit, MI and zip code 48238 in the Midtown neighborhood. This 8,748 square foot home, which was built in 1927, sits on a 0.14 acre lot. Features: 26 bathrooms. It has been listed on Rocket Homes since September 05, 2024 and is currently priced at $675,000.

In October 2024 more than 125 listings in Detroit, MI were sold above the asking price. During the same period more than 93 listings were sold at asking price, while more than 257 were sold below. The number of homes for sale 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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