Sold
Last Sold Price
2,390 sqft
217 Richter Street, River Rouge, MI 48218
Multi FamilyProperty Type
0.13 acresLot Size
1937Year Built
$63/sq ftPrice per sq ft

Description

Looking for your newest investment! Look no further. This property is perfect for investors looking for a cash flowing property as well as owner occupants looking to house hack. This 3 unit multifamily home has 2 units currently occupied by long term tenants and a 3rd unit vacant that can easily be filled or used as a primary residence. Currently cash flowing $1,600 a month with the potential of $3,117 when occupied by section 8 tenants. There are two units with one bedroom and one bathroom which...Looking for your newest investment! Look no further. This property is perfect for investors looking for a cash flowing property as well as owner occupants looking to house hack. This 3 unit multifamily home has 2 units currently occupied by long term tenants and a 3rd unit vacant that can easily be filled or used as a primary residence. Currently cash flowing $1,600 a month with the potential of $3,117 when occupied by section 8 tenants. There are two units with one bedroom and one bathroom which could be occupied at $952 for section 8 tenants and a final two bedroom unit which could be occupied at $1213 for section 8 tenants. All units are nicely updated including newer floors and updates and very well taken care of by current tenants. Property has been low maintenance for the seller for several years and is ready to be taken over!
  • Listed by: Sotero M Lopez II 586.863.3300 sotero@lopezrealtyteam.com • EXP Realty Main
  • Listed by: Brittany Barnett 586.382.6450 yourrealtorbrittanyb@gmail.com • EXP Realty Main
Listing closed: 10/17/2023 08:36 PM • Source: MiRealSource, MLS#: 60241277

Location

Listing Courtesy of EXP Realty Main

Sold By LPS

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Payment Calculator

$966 per month

30 year fixed, 6.71% Interest

Principal and Interest

$775

Property Taxes

$191

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 217 Richter Street

Property Details
  • Taxes: $2,292 / year
  • MLS Type: Residential Income / Multi Family
  • County: Wayne County
  • Architectural Style: 2 Story
  • Subdivision Name: HOODS SUB
  • Has Waterfront: No
  • Zoning Description: Multi-Family
Building Information
  • Stories: 2
  • Residences: 3
  • Year Built: 1937
  • Lot Size: 0.13 AC / 5,662 SF
Summary
Location and General Information
  • Cross Street: Marion/Coolidge
  • Directions: W of Marion N of Coolidge
  • Latitude: 42.269858
  • Longitude: -83.12702601
  • MLS Area Major: River Rouge (82144)
  • Senior Community: No
Taxes and HOA
  • Parcel Number: 50005060161000
  • Tax Annual Amount: $2,292.00
  • Tax Assessed Value: 22840
School Information
  • High School District: River Rouge
Parking
  • Garage: Yes
  • Parking Features: Garage
  • Parking Total: 2.0
Property
Lot Information
  • Frontage Length: 55.0
  • Lot Size Acres: 0.13
  • Lot Size Area: 0.13
  • Lot Size Dimensions: 55.00 x 100.00
  • Lot Size Units: Acres
  • Road Frontage Type: Paved
  • Road Surface Type: Paved
Property and Assessments
  • Above Grade Finished Area: 2390.0
  • Building Area Total: 2390.0
  • Living Area: 2390.0
  • Living Area Source: Prior Listing
  • New Construction: No
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1937
Building Features
  • Construction Materials: Aluminum Siding
  • Foundation Details: Basement, Block
  • Levels: Two
  • Total Stories: 2
Utilities
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available, Sewer Available
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Basement: Unfinished
  • Has Basement: Yes
  • Full Bathrooms: 3
  • Total Bathrooms: 3
  • Has Cooling: No
  • Heating: Forced Air, Natural Gas
  • Has Heating: Yes
  • Has Fireplace: No
Multi Family
Multi Family Information
  • Number Of Units Leased: 2
  • Number Of Units Total: 3
Income & Expenses
  • Gross Scheduled Income: $19,200

Property History for 217 Richter Street

DateEvent & SourcePriceAppreciation
Oct 17, 2023

Sold

Realcomp #20230062205

$150,000
Oct 17, 2023

Contract Signed

Realcomp #20230062205

Oct 17, 2023

Sold

MiRealSource #60241277

$150,000
DateEvent & SourcePrice
10/17/2023

Sold

Realcomp #20230062205

$150,000
10/17/2023

Contract Signed

Realcomp #20230062205

10/17/2023

Sold

MiRealSource #60241277

$150,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 217 Richter Street

Taxable ValueLand-Additions-Total-
Tax Record2025$5,629 ($469 / month)
Home Facts
Beds0Baths4Total Finished SqFt2,390 SqFtAbove Grade Finished SqFt2,390 SqFtUnfinished Basement SqFt1,110 SqFtStories2Lot Size5,663 SqFtStyleSingle Family ResidenceYear Built1937Year Renovated1937ZoningR1 ONECountyWAYNEAPN50 005 06 0161 000

Schools near 217 Richter Street

This home is within River Rouge, School District Of The City Of.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 8
Rating
School
Distance
Ann Visger K-5 Preparatory Academy
PublicPK to 5

Cb Sabbath 6-8 Preparatory Academy
Public6 to 8

River Rouge High School
Public9 to 12

River Rouge Stem Academy at Dunn
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of EXP Realty Main

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