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$499,000

Beds
5
Baths
3.5
sq ft
3,406

255 E Ferry St, Detroit, MI 48202

255 E Ferry St

Detroit, MI 48202

  • 59 days on market
Ferry Park Historic District: This stately Victorian home, situated on the renowned Historic Ferry Avenue, offers a prime location just steps away from cultural gems like Bas Bleu, CCS (College for Creative Studies), the Detroit Institute of Arts, and much more. While the exterior maintains its timeless charm, the interior is in need of a complete renovation, presenting a blank canvas for restoration enthusiasts. With its ample space and classic design, this property is an exceptional opportunity for investors to transform it into luxury condominiums or multifamily rentals, capitalizing on the neighborhood's growth and appeal.

Details

Property type

Single Family Residence

Lot size

0.26 acres

Price per sq ft

$147

Year built

1890

Annual property taxes

$982

Price History

09/06/2024
Realcomp

Realcomp #20240066863

Listed
$499,000
+24.75%
11/16/2022
Realcomp

Realcomp #20221062340

Sold
$400,000

Schools & Community

Neighborhood: 

Art Center

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

Detroit Investment Fund

Loan start date

November 2022

Original loan amount

$500,000

Est. remaining balance

Not provided

Interest rate

6.7%

Loan type

Commercial

Seller

255 E Ferry Llc

Lender

Detroit Investment Fund

Loan start date

November 2022

Original loan amount

$500,000

Est. remaining balance

Not provided

Interest rate

6.7%

Loan type

Commercial

Seller

255 E Ferry Llc

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: 11/05/2024 at 3:35 AM

Listing updated: 09/13/2024 at 6:11 AM

Listed by: Kevin M Hill, @properties Christie's Int'l RE Northville Phone #: (248) 850-8632

MLS: Realcomp #20240066863

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