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$120,000

Beds
3
Baths
1.0
sq ft
800

18551 Patton St, Detroit, MI 48219

18551 Patton St

Detroit, MI 48219

  • 10 days on market
    • Price drop $4,990↓
REDUCED FOR A QUICK SALE! LOCATED 6 MINUTES FROM THE HISTORIC ROSEDALE PARK DISTRICT YOU WILL FIND 18551 PATTON NESTLED ON A HUGE 4,356 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS JEWEL HAS A BRAND NEW TEAR OFF 40 YEAR CROWN ROOF AND HAS BEEN RECENTLY REMODELED. SHE HAS BEEN CAREFULLY UPGRADED AND HAS A NEWLY INSTALLED FURNACE AND HOT WATER . IN ADDITION SHE HAS NEWER PLUMBING AND BRAND NEW ELECTRICAL TO INSURE MAINTENANCE FREE CASH FLOW. THIS SPACIOUS DWELLING HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. SHE HAS JUST BEEN LEASED FOR 2 YEARS WITH SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF $1768 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. TENANTS PAY ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20 % THE TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Details

Property type

Single Family Residence

Est. home value

$50,964

Lot size

4,356 sq ft

Price per sq ft

$150

Year built

1947

Annual property taxes

$768

Price History

02/21/2025
Realcomp

Realcomp #20250009643

Price change
$120,000
-3.99%
02/15/2025
Realcomp

Realcomp #20250009643

Price change
$124,990
-3.85%
02/12/2025
Realcomp

Realcomp #20250009643

Listed
$129,990

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

Washington Mutual Bank Fa

Loan start date

April 2005

Original loan amount

$56,000

Est. remaining balance

Not provided

Interest rate

5.62%

Loan type

Fannie Mae/Freddie Mac, 30 year

Seller

Sylvester Murriel

Lender

Washington Mutual Bank Fa

Loan start date

April 2005

Original loan amount

$56,000

Est. remaining balance

Not provided

Interest rate

5.62%

Loan type

Fannie Mae/Freddie Mac, 30 year

Seller

Sylvester Murriel

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: 02/22/2025 at 11:25 PM

Listing updated: 02/21/2025 at 10:19 AM

Listed by: Marta Kopania, Marta Kopania, Downtown RealtyDowntown Realty Phone #: (313) 466-7253

MLS: Realcomp #20250009643

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