Nice sized buildable land in Islandview in the vibrant and growing Villages neighborhood. Low Income Housing Income Tax Potential – According to the U.S. Housing and Urban Development website, this property is located in a Qualified Tract Zone, which allows for an additional 30% of low income housing credits, in addition to the 9% credit on qualified development costs. Buyer to Verify Zoning - The property is zoned R5, which allows for apartments/affordable housing to be constructed. Also, R5 zoning may allow for certain specified non-residential uses, as long as those uses can be blended into the district. So, for example, the first floor of a building could be rented out to businesses such as convenience stores, gyms, hair/nail salon, and other businesses which directly support residents.
Property Details
Property Features
Listing Office:
Office Name: OConnor Realty Detroit, LLC
Office Phone: (313) 963-9891
Listing Agent: Bill Swanson
Interior Features
Interior Information:
Basement: No
Exterior Features
Parking Information:
Attached Garage: No
Lot Features
Lot Information:
Lot: Corner Lot, Sidewalk
Lot Size: 0.30 Acres
Other
Directions Information:
Directions: Down the street from the Tunnel to Belle Isle
Price Information
Listing Price Info
Price Summary:
List Price: $125,000
Tax Information:
Annual Amount: $26
Tax Year: 2021
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Detroit, MI.
This property is $39.9K more than the Median Sold Price in Detroit, MI.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: Realcomp II Ltd
MLS Number: #20240050145
Listing Office:
Office Name: OConnor Realty Detroit, LLC
Office Phone: (313) 963-9891
Listing Agent: Bill Swanson
Disclaimer: 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.
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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.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
1
/10
Roberto Clemente Learning Academy
1551 Beard St
Distance between this listing and this school0.31 miles
Public District Grades PK-5
2
/10
Bennett Elementary School
2111 Mullane St
Distance between this listing and this school0.76 miles
Public District Grades PK-5
2
/10
Harms Elementary School
2400 Central St
Distance between this listing and this school0.79 miles
Public District Grades PK-5
Nearby Schools
2
/10
Cesar Chavez Middle School
6782 Goldsmith St
Distance between this listing and this school0.46 miles
Public Charter Grades 6-8
2
/10
Neinas Dual Language Learning Academy
6021 McMillan St
Distance between this listing and this school0.97 miles
Public District Grades PK-8
5
/10
Clippert Academy
1981 McKinstry St
Distance between this listing and this school1.43 miles
Public District Grades 6-8
Nearby Schools
5
/10
Cesar Chavez High School
1761 Waterman St
Distance between this listing and this school0.51 miles
Public Charter Grades 9-12
1
/10
Way Academy Vernor Site
8701 W Vernor Hwy
Distance between this listing and this school0.89 miles
Public Charter Grades 6-12
2
/10
Academy of the Americas High School
5680 Konkel St
Distance between this listing and this school1.56 miles
The neighbors living near this home have an average income of $37,917. The most common annual income of people living in Detroit, MI is less than $35k. Typical family type is single, no kids. The most common level of education of people living in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 7320 E Lafayette St
What is the listing price of this property?
The listing price of 7320 E Lafayette St property is $125,000.
What type of property is this?
The property 7320 E Lafayette St is land located in Detroit, Michigan, 48214.
Is this property for sale now?
Active Listing: 7320 E Lafayette St 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 $26 (source: MLS/based on county public records data).
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This home is located at 7320 E Lafayette St in Detroit, MI and zip code 48214 in the Near West neighborhood. This home sits on a 0.30 acre lot. It has been listed on Rocket Homes since July 23, 2024 and is currently priced at $125,000.
Detroit, MI housing market in November 2024 saw over 94 listings sold above listed price, more than 55 sold at listed price and over 247 sold below. The number of homes for sale in Detroit, MI increased by 2% between October 2024 and November 2024. Listings spent 49 days on the market in November 2024, and had a median list price of $85,016 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Disclaimer: 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. 
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