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$188,700

Beds
5
Baths
3.0
sq ft
2,534

18041 Pelkey St, Detroit, MI 48205

18041 Pelkey St

Detroit, MI 48205

  • 42 days on market
    • Price drop $11,290↓
LOCATED 8 MINUTES FROM THE HISTORIC EAST ENGLISH VILLAGE DISTRICT, YOU WILL FIND 18041 PELKEY NESTLED ON A 5,227 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. YOUR APARTMENT COMPLEX CONSISTS OF 3 RECENTLY REMODELED 3 BEDROOM AND 1 BED UNITS. EACH UNIT HAS BEEN UPGRADED AND HAS ENTIRELY BRAND NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE THE ENTIRE COMPLEX HAS NEW ELECTRICAL AND PLUMBING FROM TOP TO BOTTOM. EACH SPACIOUS UNIT HAS FRESHLY ROLLED PAINT AND ONE WITH BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. THIS BEAUTY HAS JUST BEEN RENTED WITH 3 SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF 3613 PAID IN FULL BY THE GOVERNMENT. TENANTS COVER ALL THE UTILITIES WITH ROI OF JUST UNDER 20 PERCNT. THE TAXES HAVE BEEN REDUCED TO ROUGHLY 75 PER MONTH. THIS DIAMOND WILL WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER. LET'S CLOSE!

Details

Property type

Single Family Residence

Est. home value

$61,389

Lot size

5,227 sq ft

Price per sq ft

$75

Year built

1927

Annual property taxes

$1,689

Price History

08/30/2024
Realcomp

Realcomp #20240058174

Price change
$188,700
-5.65%
08/15/2024
Realcomp

Realcomp #20240058174

Price change
$199,990
-20%
08/08/2024
Realcomp

Realcomp #20240058174

Removed
$250,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Detroit

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Countrywide Home Loans Inc

Loan start date

January 2006

Original loan amount

$78,750

Est. remaining balance

Not provided

Interest rate

6.37%

Loan type

Fannie Mae/Freddie Mac, 20 year

Seller

James Read and Jacqueline A Read

Lender

Countrywide Home Loans Inc

Loan start date

January 2006

Original loan amount

$78,750

Est. remaining balance

Not provided

Interest rate

6.37%

Loan type

Fannie Mae/Freddie Mac, 20 year

Seller

James Read and Jacqueline A Read

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 09/19/2024 at 6:05 PM

Listing updated: 08/30/2024 at 11:43 AM

Listed by: Marta Kopania, 1st Michigan Real Estate Phone #: (734) 301-6553

MLS: Realcomp #20240058174

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