1 month on rocket

5731 Somerset Ave, Detroit, MI, 48224

$151,000

Home List Price

$1,793*

Closing Credit

2 Full Baths
2,516 SqFt
$60/SqFt
Multi

Location

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5731 Somerset Ave, Detroit$151,000

Buyer Closing Credits

$1,793*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingGarages
Year Built1929
HeatingOther, Radiant
BasementYes
MLS #20240077158
Lot Size0.14 Acres
StatusActive

About 5731 Somerset Ave

Come check out your newest investment 5731 Somerset! This 2-unit property with 2 Beds and 1 bath each unit is ready to make you monthly income. This property is already rehab and occupied helping you fast-forward your investment into profit. The property is located near a freeway making a daily commute easier. With a cap rate of fourteen percent this property will make the new buyer a great return.

Property Details

Property Features

Property Information:

  • Architectural Style: A-Frame
  • Year Built: 1929
  • Stories: 2
  • Living Area: 2,516 SqFt

Listing Office:

  • Office Name: Berkshire Hathaway HomeServices The Loft Warehouse
  • Office Phone: (313) 658-6400
  • Listing Agent: James Byrd

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 2

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Parking: Garages

Lot Features

Lot Information:

  • Lot Size: 0.14 Acres

Utilities

Utilities Information:

  • Heating: Other, Radiant

Other

Directions Information:

  • Directions: Take East Outer Drive West And After You Past Alter Road Make A Left On Somerset.

Price Information

Listing Price Info

Price Summary:

  • List Price: $151,000
  • Price Per SqFt: $60/SqFt

Tax Information:

  • Annual Amount: $2,271
  • 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

5731 Somerset Ave vs Detroit

40 DAYS ON ROCKET

-5 Days

$151,000

+$66K More

$60/SqFt

-$14 Less

KEY TAKEAWAY

This property is $66K more than the Median Sold Price and $14/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: #20240077158

Listing Office:

  • Office Name: Berkshire Hathaway HomeServices The Loft Warehouse
  • Office Phone: (313) 658-6400
  • Listing Agent: James Byrd

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: 11/21/2024, 1:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

May 15, 2019Home Sold
$28,000

Tax History

YEARPROP. TAXASSESSMENT
2021$2,271$26,900
2020$1,480$24,800
2018$1,480$19,100
2017$1,473$17,700

History based on county public records data.

Payment Calculator

$821

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$519

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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-301912
1
/10

  • Marvin L Winans Academy Elementary School

  • 9740 McKinney St

  • 0.64 miles

  • Public Charter Grades KG-5

school-card-donut-301913
1
/10

  • Wayne Elementary School

  • 10633 Courville St

  • 0.78 miles

  • Public District Grades PK-5

school-card-donut-301914
1
/10

  • Carleton Elementary School

  • 11724 Casino St

  • 1.58 miles

  • Public District Grades PK-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 majority of Detroit, MI residents have income between $35k-100k annually. 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›5731 Somerset Ave

This home is located at 5731 Somerset Ave in Detroit, MI and zip code 48224 in the Lower East neighborhood. This 2,516 square foot home, which was built in 1929, sits on a 0.14 acre lot. Features: 2 bathrooms. It has been listed on Rocket Homes since October 11, 2024 and is currently priced at $151,000.

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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