7 months on rocket

5566 Somerset Ave, Detroit, MI, 48224

$120,000

Home List Price

$1,425*

Closing Credit

3 Bedrooms
2 Full Baths
2,250 SqFt
$53/SqFt
House

Location

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5566 Somerset Ave, Detroit$120,000

Buyer Closing Credits

$1,425*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingDetached
Garage2 spaces
Year Built1941
HeatingForced Air
BasementYes
FireplaceLiving Room
MLS #24019500
Lot Size0.12 Acres
StatusActive

About 5566 Somerset Ave

Welcome to this charming 3-bedroom, 2-full bath brick home with a 2-car garage, located in a sought-after area. This delightful property features a spacious layout, perfect for comfortable living and entertaining. The home boasts a large basement and an upstairs area, providing ample space for storage or extra living space. Meticulously maintained, this residence offers a turn-key opportunity with minimal updates needed. Don't miss out on the chance to own this beautiful and well-maintained home in a highly desirable location!

Property Details

Property Features

Property Information:

  • Architectural Style: Bungalow
  • Year Built: 1941
  • Stories: 2
  • Living Area: 2,250 SqFt

Listing Office:

  • Office Name: iTech Realty
  • Office Phone: (586) 262-6757
  • Listing Agent: Kingsley Ifezue

Interior Features

Interior Information:

  • Basement: Yes
  • Fireplace: Living Room

Bedroom and Bathroom Information:

  • Full Bathrooms: 2
  • Total Bedroom Count: 3

Exterior Features

Parking Information:

  • Garage Space: 2 spaces
  • Attached Garage: No
  • Parking: Detached

Lot Features

Lot Information:

  • Lot Size: 0.12 Acres

Utilities

Utilities Information:

  • Heating: Forced Air

Other

Directions Information:

  • Directions: Outer Dr. E, Chandler Park

Price Information

Listing Price Info

Price Summary:

  • List Price: $120,000
  • Price Per SqFt: $53/SqFt

Tax Information:

  • Annual Amount: $862
  • 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

5566 Somerset Ave vs Detroit

212 DAYS ON ROCKET

+167 Days

$120,000

+$35K More

$53/SqFt

-$21 Less

KEY TAKEAWAY

This property is $35K more than the Median Sold Price and $21/SqFt less than other homes in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #24019500

Listing Office:

  • Office Name: iTech Realty
  • Office Phone: (586) 262-6757
  • Listing Agent: Kingsley Ifezue

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: 11/21/2024, 11:50:55 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$862$23,000
2020$1,256$21,300
2018$1,256$17,300
2017$1,229$16,000

History based on county public records data.

Payment Calculator

$666

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$426

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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-521379
1
/10

  • Marvin L Winans Academy Elementary School

  • 9740 McKinney St

  • 0.70 miles

  • Public Charter Grades KG-5

school-card-donut-521380
1
/10

  • Wayne Elementary School

  • 10633 Courville St

  • 0.88 miles

  • Public District Grades PK-5

school-card-donut-521381
6
/10

  • George Defer Elementary School

  • 15425 Kercheval Ave

  • 1.57 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. The most common annual income of people living in Detroit, MI is 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

Frequently Asked Questions About 5566 Somerset Ave

What is the listing price of this property?

The listing price of 5566 Somerset Ave property is $120,000.

What type of property is this?

The property 5566 Somerset Ave is a house located in Detroit, Michigan, 48224.

Is this property for sale now?

Active Listing: 5566 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 $862 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 5566 Somerset Ave has 3 bedrooms and 2 bathrooms.

What is the square footage of this property?

The property 5566 Somerset Ave is 2,250 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 5566 Somerset Ave is 1941.

Rocket Homes›Michigan›Wayne County›Detroit›48224›5566 Somerset Ave

This home is located at 5566 Somerset Ave in Detroit, MI and zip code 48224 in the Lower East neighborhood. This 2,250 square foot home, which was built in 1941, sits on a 0.12 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since April 23, 2024 and is currently priced at $120,000.

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. Between September 2024 and October 2024, Detroit, MI real estate market has seen increase in the number of listings by 11.2%. In October 2024 median list price was $85,000 and the average listing age was 45 days.

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

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