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Don’t let your Veteran and military friends miss out on the opportunity to discover this home!
20
Photos
9528 MONTROSE Street, Detroit, MI 48227
$50,000 Asking Price
$---/mo Est. Payment Get Prequalified »
5
beds
2
baths
1,514
sqft
Built in
1928
This is your sign! A rare 5 bedroom, 2 full bath home is great for a large family to move right in and add your touches when you're ready. The 2 adjoining lots are owned by the Detroit Land Bank. Buy them and fence them in. Investors, this is an amazing Buy & Hold Deal. With a little TLC this home can be Section 8. Collect around $2,000 in rent each month based on MSHDA's 2024 HCV (aka Section 8) 2024 Payment Standard for Wayne County. See photo # 2. Don't go and cash out on a $25K full gut rehab? Instead, you need to consider this Land Contract option: Use your $25K as a downpayment, 10% interest, $1,000 per month (Principal & Interest Only) for 2 years. Land Contract purchase price is $60K. Get higher than average cashflow by becoming a Section 8 landlord. Paying $2,000 per month could have the home paid in full within 2 years. The Buyer is responsible for taxes and insurance. You will get a clear title with Title Insurance. Seller is selling their assignable interest.
Features & Amenities
Interior
- General:
- Furnished - No
- Basement:
- Unfinished
- Heating:
- Forced Air, Natural Gas
- Fireplace:
- Living Room, Fireplace
Exterior
- Style:
- Colonial
Construction
- Roofing:
- Asphalt
- General:
- Brick,Vinyl, 2 Story, Basement
Location
- Road/Access:
- Paved
- School District:
- Detroit
- County:
- Wayne
Lot
- Zoning:
- E MONTROSE 364 FRISCHKORNS DYNAMIC SUB L48 P66 PLATS, W C R 22/194 37 X 125, W22I052902S
Utilities
- Water:
- Public
- Sewer:
- Sewer-sanitary
This listing courtesy of:
Real Estate Management Specialists Inc, Kimberly Robinson
Monthly Payment
Disabled 10% or more?
Used a VA Loan before?
Eligible for BAH?
Do you have dependents?
Your BAH amount is for the military housing area.
Loan term (number of years)
Property taxes are generally around 1.2% of the home’s value, but may vary based on location.
Annual homeowners insurance is typically 0.35% of the home’s value but can vary based on insurer.
$---
Est. Payment *
- Principal & Interest $--
- Taxes $--
- Insurance $--
- VA Funding Fee $--
$--- Est. Payment - $--- BAH = $--- Remaining
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About Detroit, MI
Housing
- Number of Units
- 292,561
- Median Home Value
- $70,234
- Median Rent
- $679
53.65% of housing units are renter occupied.
18.25% are vacant.
Commute
- Car
-
71.17%
- Public Transportation
-
5.99%
- Walk to Work
-
3.15%
- Work from Home
-
17.73%
- Other
-
1.42%
The median travel time to work is 23 minutes.
People
- Population
- 593,210
- Median Age
- 36.40
- Median Household Size
- 2.38
Education
- High School
-
33.32%
- Associate’s Degree
-
7.33%
- Bachelor’s Degree
-
9.43%
- Graduate Degree
-
6.96%
Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.
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