5 months on rocket

5773 Loraine St, Detroit, MI, 48208

$50,000

Home List Price

$594*

Closing Credit

0 Baths
Multi

Location

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5773 Loraine St, Detroit$50,000

Buyer Closing Credits

$594*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1905
HeatingForced Air, Natural Gas
BasementYes
MLS #81024032092
Lot Size0.07 Acres
StatusActive

About 5773 Loraine St

Attention Investors! Here's your next lucrative opportunity: a multi-family home with immense potential. This property features multiple units, 2 bedrooms, 1 full bath, and 1 convenient half bath in upper unit, 2 bedroom and 1 full bath in lower unit, Newer roof! The best part? The heavy lifting has been done for you. The demolition is already complete! Now is your chance to customize and rehab this property to maximize rental income or resale value.

Property Details

Property Features

Property Information:

  • Year Built: 1905

Listing Office:

  • Office Name: KW Home Realty
  • Office Phone: (248) 626-2100
  • Listing Agent: Cecelia C Dillard

Interior Features

Interior Information:

  • Basement: Yes

Lot Features

Lot Information:

  • Lot Size: 0.07 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas

Other

Directions Information:

  • Directions: 94 Service drive to Loraine

Price Information

Listing Price Info

Price Summary:

  • List Price: $50,000

Tax Information:

  • Annual Amount: $964
  • 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

$67

Avg. Days On Market

49

# of Sold Homes

396

5773 Loraine St vs Detroit

177 DAYS ON ROCKET

+128 Days

$50,000

-$35K Less

KEY TAKEAWAY

This property is $35K less than the Median Sold Price in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Greater Metropolitan Association of REALTORS
  • MLS Number: #81024032092

Listing Office:

  • Office Name: KW Home Realty
  • Office Phone: (248) 626-2100
  • Listing Agent: Cecelia C Dillard

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: 12/18/2024, 8:21:08 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$964$12,600
2020$633$10,900
2018$633$9,000
2017$632$8,800

History based on county public records data.

Payment Calculator

$317

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$216

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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-4471964
1
/10

  • University Preparatory Academy (PSAD) Elementary School

  • 957 Holden St

  • 1.13 miles

  • Public Charter Grades KG-5

school-card-donut-4471965
2
/10

  • University Preparatory Academy Psad Elementary School

  • 435 Amsterdam St

  • 1.42 miles

  • Public Charter Grades KG-5

school-card-donut-4471966
2
/10

  • University Preparatory Art Design Elementary School

  • 10225 3rd St

  • 2.23 miles

  • Public Charter Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $14,122. Most Detroit, MI residents have annual incomes less than $35k. Residents typically live in single, no kids family. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Wayne County›Detroit›48208›5773 Loraine St

This home is located at 5773 Loraine St in Detroit, MI and zip code 48208 in the Rosa Parks neighborhood. This home, which was built in 1905, sits on a 0.07 acre lot. It has been listed on Rocket Homes since June 23, 2024 and is currently priced at $50,000.

In November 2024 more than 94 listings in Detroit, MI were sold above the asking price. During the same period more than 55 listings were sold at asking price, while more than 247 were sold below. In November 2024 in Detroit, MI there were 2% more homes for sale than in October 2024. While the average time on the market in November 2024 was 49 days, the median list price was $85,016.

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

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