15 days on rocket

5541 Balfour St, Detroit, MI, 48224

$89,900

Home List Price

$1,068*

Closing Credit

4 Bedrooms
2 Full Baths
1,944 SqFt
$46/SqFt
Multi

Location

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5541 Balfour St, Detroit$89,900

Buyer Closing Credits

$1,068*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Parking3 or More Spaces, Garage
Garage2 spaces
Year Built1941
HeatingForced Air
CoolingCeiling Fan(s)
BasementYes
FireplaceLivRoom Fireplace
MLS #50161997
Lot Size0.13 Acres
StatusActive

About 5541 Balfour St

*MULTIPLE OFFERS RECEIVED- PLEASE SUBMIT H&B BY 12/11/24 3PM* Charming 2-Unit Multi-Family Property in Detroit – Great Investment or Conversion Opportunity. This well-maintained 2-unit multi-family home is an ideal investment opportunity or can easily be converted into a spacious single-family residence. Located in an up-and-coming area of Detroit, this property offers convenience and potential for growth. Both units have 2 bedrooms, full bathroom, kitchen and living room. Entry level's inviting living room offers a beautiful fireplace, perfect for cozy evenings. Functional layout offering ample living space in both units. 2 Car detached garage. Shared basement with laundry facility. The home is in a prime location with easy access to major expressways, making commuting to Downtown Detroit, The Points, or St. Clair Shores a breeze. Whether you're looking to capitalize on the rental market or transform it into your dream home, this property offers flexibility and fantastic value in a rapidly growing neighborhood. Don't miss out on this fantastic opportunity to own a property in a high-demand area with so much potential!

Property Details

Property Features

Property Information:

  • Architectural Style: Colonial
  • Year Built: 1941
  • Stories: 2
  • Living Area: 1,944 SqFt

Listing Office:

  • Office Name: Innovation Real Estate Specialists Inc.
  • Office Phone: (586) 263-8220
  • Listing Agent: Melanie Lovati

Interior Features

Interior Information:

  • Appliances: Range, Oven, Refrigerator
  • Basement: Yes
  • Fireplace: LivRoom Fireplace

Bedroom and Bathroom Information:

  • Full Bathrooms: 2
  • Total Bedroom Count: 4

Exterior Features

Exterior Information:

  • Exterior: Porch, Sidewalks

Parking Information:

  • Garage Space: 2 spaces
  • Attached Garage: No
  • Parking: 3 or More Spaces, Garage

Lot Features

Lot Information:

  • Lot: Sidewalk
  • Lot Size: 0.13 Acres

Utilities

Utilities Information:

  • Heating: Forced Air
  • Cooling: Ceiling Fan(s)

School Info

School District Information:

  • School District: Detroit City School District

Price Information

Listing Price Info

Price Summary:

  • List Price: $89,900
  • Price Per SqFt: $46/SqFt
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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

$67

Avg. Days On Market

49

# of Sold Homes

396

5541 Balfour St vs Detroit

15 DAYS ON ROCKET

-34 Days

$89,900

+$4.8K More

$46/SqFt

-$22 Less

KEY TAKEAWAY

This property is $4.8K more than the Median Sold Price and $22/SqFt less than other homes in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MiRealSource
  • MLS Number: #50161997

Listing Office:

  • Office Name: Innovation Real Estate Specialists Inc.
  • Office Phone: (586) 263-8220
  • Listing Agent: Melanie Lovati

IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.

Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/11/2024, 3:21:15 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

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$516

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Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$336

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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-1708783
1
/10

  • Marvin L Winans Academy Elementary School

  • 9740 McKinney St

  • 0.69 miles

  • Public Charter Grades KG-5

school-card-donut-1708784
1
/10

  • Wayne Elementary School

  • 10633 Courville St

  • 0.90 miles

  • Public District Grades PK-5

school-card-donut-1708785
6
/10

  • George Defer Elementary School

  • 15425 Kercheval Ave

  • 1.55 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $61,742. Most Detroit, MI residents have annual incomes between $35k-100k. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Wayne County›Detroit›48224›5541 Balfour St

This home is located at 5541 Balfour St in Detroit, MI and zip code 48224 in the Lower East neighborhood. This 1,944 square foot home, which was built in 1941, sits on a 0.13 acre lot. Features: 4 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since November 26, 2024 and is currently priced at $89,900.

While more than 94 listings in Detroit, MI in November 2024 were sold above asking price, there were more than 55 listings sold at asking price, and more than 247 were sold below. Between October 2024 and November 2024, Detroit, MI real estate market has seen increase in the number of listings by 2%. In November 2024, listings were on the market for 49 days. During the same period, the median list price in this real estate market was $85,016.

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

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