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Backup Offers

700 Alter Rd, Detroit, MI, 48215

$189,000

Home List Price

$2,244*

Closing Credit

2 Full Baths
2,448 SqFt
$77/SqFt
Multi

Location

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700 Alter Rd, Detroit$189,000

Buyer Closing Credits

$2,244*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeMulti Family
ParkingGarage
Year Built1953
HeatingForced Air, Natural Gas
BasementYes
MLS #20240083889
Lot Size0.16 Acres
StatusAccepting Backup Offers

About 700 Alter Rd

Exciting investment opportunity in the rapidly appreciating Jefferson Chalmers Neighborhood! Outstanding location South of Jefferson sharing a fence line with the City of Grosse Pointe Park and across from the charming canals of Jefferson Chalmers, this all brick duplex boasts large open concept living spaces, 2 large bedrooms with huge closets per unit, large kitchens, well maintained bathrooms, separate- private basements for each tenant with storage & laundry, and driveway with garage for convenient off street parking for tenants. "House Hack" by living in one unit and renting the other! Separate utility meters for each apartment. Market rents of $1,050+ per unit! Super easy to manage and allows for a strong passive income! Very walkable location steps from coffee, dining, and shopping on Jefferson & Kercheval as well as the highly anticipated $45M+ development of the new Performing Arts Center coming to Jefferson! Neighboring duplex sales as high as $300K+ allowing for an attractive value add opportunity!

Property Details

Property Features

Property Information:

  • Architectural Style: Colonial, Duplex
  • Year Built: 1953
  • Living Area: 2,448 SqFt

Listing Office:

  • Office Name: Jim Saros Real Estate Services
  • Office Phone: (313) 886-9030
  • Listing Agent: James B Saros

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 2

Exterior Features

Parking Information:

  • Attached Garage: No
  • Parking: Garage

Lot Features

Lot Information:

  • Lot Size: 0.16 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas

Other

Directions Information:

  • Directions: South of Jefferson

Price Information

Listing Price Info

Price Summary:

  • List Price: $189,000
  • Price Per SqFt: $77/SqFt

Tax Information:

  • Annual Amount: $2,966
  • 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

700 Alter Rd vs Detroit

42 DAYS ON ROCKET

-7 Days

$189,000

+$103.9K More

$77/SqFt

+$9 More

KEY TAKEAWAY

This property is $103.9K more than the Median Sold Price and $9/SqFt more 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: #20240083889

Listing Office:

  • Office Name: Jim Saros Real Estate Services
  • Office Phone: (313) 886-9030
  • Listing Agent: James B Saros

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, 5:21:15 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$2,966$34,500
2020$1,930$29,300
2018$1,930$21,000
2017$1,920$21,400

History based on county public records data.

Payment Calculator

$1,011

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$633

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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-62213
6
/10

  • George Defer Elementary School

  • 15425 Kercheval Ave

  • 0.78 miles

  • Public District Grades KG-5

school-card-donut-62214
1
/10

  • Marvin L Winans Academy Elementary School

  • 9740 McKinney St

  • 2.94 miles

  • Public Charter Grades KG-5

school-card-donut-62215
1
/10

  • Wayne Elementary School

  • 10633 Courville St

  • 3.18 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 $29,400. The majority of Detroit, MI residents have income less than $35k annually. The majority of families are single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Wayne County›Detroit›48215›700 Alter Rd

This home is located at 700 Alter Rd in Detroit, MI and zip code 48215 in the Lower East neighborhood. This 2,448 square foot home, which was built in 1953, sits on a 0.16 acre lot. Features: 2 bathrooms. It has been listed on Rocket Homes since November 06, 2024 and is currently priced at $189,000.

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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