5 months on rocket

1987 Richton St, Detroit, MI, 48206

$34,900

Home List Price

$414*

Closing Credit

2 Full Baths
1,818 SqFt
$19/SqFt
Multi

Location

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1987 Richton St, Detroit$34,900

Buyer Closing Credits

$414*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeMulti Family
ParkingOn Street
Year Built1924
HeatingNatural Gas, Forced Air
BasementYes
MLS #20240039717
Lot Size0.07 Acres
StatusActive

About 1987 Richton St

**OPPORTUNITY** Investors, here is your next rehab project! Turn this 2 unit property into a cash flow machine; each unit features a spacious living room, dining room, kitchen, bathroom, and 2 bedrooms! The property did have a relatively small fire in one of the upper bedrooms but the damage was contained. The property does have hardwood flooring that may be salvageable, forced air heating, and some vinyl windows in the first floor unit that could probably be saved! Sec 8 rents for a property like this should be $1,100-1,200/month per unit, with cash paying tenants paying slightly less. Located in the 48306 zip code where there are too many redevelopment and development projects to list! Quick access to M-10 so 10 minutes or less to downtown! NO SELLER FINANCING, CASH OR HARD MONEY ONLY

Property Details

Property Features

Property Information:

  • Architectural Style: Duplex
  • Year Built: 1924
  • Stories: 2
  • Living Area: 1,818 SqFt

Listing Office:

  • Office Name: RE/MAX Leading Edge
  • Office Phone: (734) 404-8800
  • Listing Agent: Ryan E Kain

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 2

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot Size: 0.07 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas, Forced Air

Other

Directions Information:

  • Directions: From Rosa Parks Blvd turn West on Richton

Price Information

Listing Price Info

Price Summary:

  • List Price: $34,900
  • Price Per SqFt: $19/SqFt

Tax Information:

  • Annual Amount: $1,113
  • 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

1987 Richton St vs Detroit

165 DAYS ON ROCKET

+120 Days

$34,900

-$50.1K Less

$19/SqFt

-$55 Less

KEY TAKEAWAY

This property is $50.1K less than the Median Sold Price and $55/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: #20240039717

Listing Office:

  • Office Name: RE/MAX Leading Edge
  • Office Phone: (734) 404-8800
  • Listing Agent: Ryan E Kain

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: 11/22/2024, 5:20:53 PM 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$1,113$14,200
2020$730$13,200
2018$730$11,800
2017$729$12,300

History based on county public records data.

Payment Calculator

$242

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$171

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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-678745
2
/10

  • University Preparatory Art Design Elementary School

  • 10225 3rd St

  • 0.87 miles

  • Public Charter Grades KG-5

school-card-donut-678746
1
/10

  • George Washington Carver Elementary School

  • 14510 2nd Ave

  • 1.43 miles

  • Public Charter Grades PK-4

school-card-donut-678747
2
/10

  • Dickinson West Elementary School

  • 2333 Burger St

  • 2.41 miles

  • Public District Grades KG-6

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $19,205. The most common annual income of people living in Detroit, MI is less than $35k. Residents typically live in single, no kids family. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Wayne County›Detroit›48206›1987 Richton St

This home is located at 1987 Richton St in Detroit, MI and zip code 48206 in the Midtown neighborhood. This 1,818 square foot home, which was built in 1924, sits on a 0.07 acre lot. Features: 2 bathrooms. It has been listed on Rocket Homes since June 10, 2024 and is currently priced at $34,900.

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 inventory of homes for sale in Detroit, MI between September 2024 and October 2024 increased by 11.2%. 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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