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$500,000

Beds
8
Baths
4.0
sq ft
3,600

5900 Seminole St, Detroit, MI 48213

5900 Seminole St

Detroit, MI 48213

  • <1 day on market
LOCATED 6 MINUTES FROM THE HISTORIC INDIAN VILLAGE AND WEST VILLAGE, YOU WILL FIND 5900 SEMINOLE NESTLED ON A 3,484 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS JEWEL HAS A BRAND NEW TEAR OFF 40 YEAR CROWN ROOF AND CONSISTS OF 4 RECENTLY REMODELED, TWO BED ROOM HOMES. SHE HAS BEEN CAREFULLY UPGRADED AND HAS NEWLY INSTALLED FURNACE’S AND HOT WATER TANKS. IN ADDITION, EACH UNIT HAS BRAND NEW PLUMBING BRAND NEW ELECTRICAL AS WELL TO INSURE MAINTENANCE FREE CASH FLOW. EACH SPACIOUS DWELLING HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. THIS BEAUTY HAS JUST BEEN LEASED WITH 2 OF 4 SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF 2,370 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. THE OTHER 2 UNITS ARE WAITING 4 SECTION 8 INSPECTION.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

$148,314

Lot size

3,485 sq ft

Price per sq ft

$139

Year built

1923

Annual property taxes

$3,442

Price History

09/18/2024
Realcomp

Realcomp #20240070474

Listed
$500,000
+1823.08%
08/07/2023
Realcomp

Realcomp #20230023967

Sold
$26,000

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

Washington Mutual Bank Fa

Loan start date

April 2007

Original loan amount

$78,300

Est. remaining balance

$50,257

Interest rate

6.14%

Loan type

Not Provided, 30 year

Seller

Michael C Thomas

Lender

Washington Mutual Bank Fa

Loan start date

April 2007

Original loan amount

$78,300

Est. remaining balance

$50,257

Interest rate

6.14%

Loan type

Not Provided, 30 year

Seller

Michael C Thomas

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?

Status: Active

Tomo last checked: 09/19/2024 at 2:55 PM

Listing updated: 09/19/2024 at 6:01 AM

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

MLS: Realcomp #20240070474

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