4740 Alter Road

Sold 12/17/20
Sold 12/17/20
B2E3F63B-32C7-49E2-B43E-9EEA26CABE17.jpg
0F6C5075-3A54-433E-A442-0F35D3C65A2C.jpg
1DDD3E93-4872-484A-A038-9E9FD524B5B7.jpeg
9A78D7B1-6686-46EF-8C04-FD5A7BCB9C0F.jpeg
30FD2EE7-00AF-4BC9-A814-E7E6E01AD8BF.jpeg
9450F7C2-7F6C-4269-AC2E-14F50DE10C1E.jpeg
43219ECE-9BFE-40B1-B58F-BE97AFE4CAAA.jpg
B1238A0D-3326-4A2F-8B24-083F96EA1F5D.jpg
F2CBB883-7F5D-41E7-B36E-3237CDAC4440.jpg
Sold
Last Sold Price
$51,000
4 beds2,214 sqft
4740 Alter Road, Detroit, MI 48215
Multi FamilyProperty Type
0.08 acresLot Size
1922Year Built
$23/sq ftPrice per sq ft
3 carsParking Spaces

Description

All brick - 2 units - side by side in a great part of detroit! Own a performing rental property ($1325 gross rent) near east english village and 1 mile from grosse pointe. Chandler park a short walk. Lower unit leased 03/2020 for 750. Upper unit leased in 2018 for 575. Whopping 22% cap rate! Both units nicely renovated prior to tenants taking possession (see pics). 2 beds/1 bath each unit. Hardwood floors t/o. Private basements for each tenant. Tenants pay all utilities. 1/4 mile from corrigan playground...All brick - 2 units - side by side in a great part of detroit! Own a performing rental property ($1325 gross rent) near east english village and 1 mile from grosse pointe. Chandler park a short walk. Lower unit leased 03/2020 for 750. Upper unit leased in 2018 for 575. Whopping 22% cap rate! Both units nicely renovated prior to tenants taking possession (see pics). 2 beds/1 bath each unit. Hardwood floors t/o. Private basements for each tenant. Tenants pay all utilities. 1/4 mile from corrigan playground and the fire station. Brand new hvac. Accepted offer required prior to showing. Cash offers strongly preferred. Conventional considered for the right offer. All info deemed reliable, not guranteed. Buyer/agent to verify. Buyer will pay $495 admin fee to elite realty at closing.
  • Listed by: T J Brisbois 734.968.4359 TJMovesYou@gmail.com Brokerage DRE #6505367491 • Elite Realty
Listing closed: 12/17/2020 12:00 AM • Source: Realcomp, MLS#: 2200065667

See It First™ on Compass

Find homes before they're listed on other real estate sites.

Start your search

Recent comparable sales

Median sold price

$81,000

Avg days on market

37

Sale-to-list ratio

87.3%

Detroit, MI

9 comparable properties found

$58,000 | 5258 Alter Road, Detroit, MI 48224
1/12
1

$58,000

Sold 05/07/26

4
Bedrooms
1,788
Square Feet
0.12
Acres

5258 Alter Road, Detroit, MI 48224

$45,000 | 4810 Chalmers Street, Detroit, MI 48215
1/2
2

$45,000

Sold 07/29/25

4
Bedrooms
2,084
Square Feet
0.1
Acres

4810 Chalmers Street, Detroit, MI 48215

$107,500 | 4401 Buckingham, Detroit, MI 48224
1/17
3

$107,500

Sold 04/14/25

4
Bedrooms
1,946
Square Feet
0.1
Acres

4401 Buckingham, Detroit, MI 48224

$81,000 | 5541-5543 Balfour Road, Detroit, MI 48224
1/50
4

$81,000

Sold 03/20/25

4
Bedrooms
1,944
Square Feet
0.13
Acres

5541-5543 Balfour Road, Detroit, MI 48224

$90,000 | 5765 Devonshire Road, Detroit, MI 48224
1/13
5

$90,000

Sold 09/03/26

4
Bedrooms
2,178
Square Feet
0.11
Acres

5765 Devonshire Road, Detroit, MI 48224

$22,000 | 2575 Ashland Street, Detroit, MI 48215
1/18
6

$22,000

Sold 09/08/26

4
Bedrooms
2,151
Square Feet
0.1
Acres

2575 Ashland Street, Detroit, MI 48215

$264,000 | 5936 Grayton Street, Detroit, MI 48224
1/29
7

$264,000

Sold 12/30/24

4
Bedrooms
2,504
Square Feet
0.14
Acres

5936 Grayton Street, Detroit, MI 48224

8

$63,000

Sold 07/25/25

4
Bedrooms
2
Bathrooms
2,222
Square Feet
0.12
Acres

5104 Balfour Road, Detroit, MI 48224

$115,000 | 4158 Bedford Street, Detroit, MI 48224
1/27
9

$115,000

Sold 07/10/26

4
Bedrooms
1,851
Square Feet
0.11
Acres

4158 Bedford Street, Detroit, MI 48224

Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Elite Realty

Sold By Non Realcomp Office

Add your commute

Payment Calculator

Get preapproved with Rocket Mortgage1

$396 per month

30 year fixed, 7.03% Interest

Principal and Interest

$272

Property Taxes

$123

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 4740 Alter Road

Property Details
  • Taxes: $1,481 / year
  • MLS Type: Residential Income / Multi Family
  • County: Wayne County
  • Subdivision Name: ELM PARK NO 1
  • Architectural Style: Ranch, Townhouse
  • Waterfront: No
  • Zoning Description: Residential
Building Information
  • Residences: 2
  • Year Built: 1922
  • Lot Size: 0.08 AC / 3,484 SF
Summary
Location and General Information
  • Directions: EAST SIDE OF ALTER, SOUTH OF WARREN
  • Latitude: 42.395339
  • Longitude: -82.952741
  • Cross Street: S of WARREN/E of CHALMERS
  • MLS Area Major: Detroit (82001)
Taxes and HOA
  • Parcel Number: W21I062900S
  • Tax Amount Summer: $1,359.00
  • Tax Amount Winter: $122.00
  • Tax Annual Amount: $1,481.00
  • Tax Assessed Value: $12,902.00
  • Tax Legal Description: E ALTER 73 ELM PARK SUB NO 1 L42 P50 PLATS, W C R 21/613 35 X 100.11A
School Information
  • High School District: Detroit
Parking
  • Parking Total: 3.0
Property
Lot Information
  • Frontage Length: 35.0
  • Lot Size Acres: 0.08
  • Lot Size Area: 0.08
  • Lot Size Dimensions: 35.00X100.00
  • Encroachment: No
  • Lot Size Units: Acres
  • Road Frontage Feet: 35
  • Road Frontage Type: Paved
  • Road Surface Type: Paved
Property and Assessments
  • State Equalized Value: 14300.0
  • Living Area: 2214.0
  • Building Area Total: 2214.0
  • Above Grade Finished Area: 2214.0
  • Above Grade Finished Area Units: Square Feet
  • Below Grade Total Area: 1107.0
  • Below Grade Total Area Units: Square Feet
  • Class Name: Residential Income
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Year Built: 1922
Building Features
  • Construction Materials: Brick
  • Foundation Details: Basement, Brick Mortar
  • Levels: Two
  • Year Remodeled: 2018
  • Roof: Asphalt
  • Stories Total: 2
Utilities
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Bathrooms Total Notational: 2.0
  • Appliances: Gas Water Heater
  • Basement: Private, Unfinished
  • Has Basement: Yes
  • Bathrooms Full: 2
  • Bathrooms Total Integer: 2
  • Heating: Forced Air, Natural Gas, Separate Meters
  • Has Heating: Yes
  • Water Heater Fuel: Natural Gas
  • UnitTwoBedNumberOf: 2
Exterior Features
  • Patio And Porch Features: Porch
Multi Family
Multi Family Information
  • Number of Units Leased: 2
  • Number of Units Total: 2
  • Unit Records: 2
Income & Expenses
  • Gross Scheduled Income: $15,900.00
  • Net Operating Income: $13,218.00
Unit Information
Unit 1
  • Actual Rent: $575.00
  • Total Bathrooms: 1
  • Furnished: Unfurnished
  • Sq Ft: 1107.0
  • Type: Two Bedroom
  • Total Units: 1.0
Unit 2
  • Actual Rent: $750.00
  • Total Bathrooms: 1
  • Furnished: Unfurnished
  • Sq Ft: 1107.0
  • Type: Two Bedroom
  • Total Units: 1.0
Agent
Sale and Listings
  • Public GLR Website: Yes
Rental
Rent Information
  • Monthly Rental Income: $1,325.00
  • Existing Lease: No
  • Pets Allowed: No
  • Rent Includes: Trash Collection

Property History for 4740 Alter Road

DateEvent & SourcePriceAppreciation
Dec 17, 2020

Sold

MiRealSource #40091025

$51,000—
Dec 17, 2020

Sold

Realcomp #2200065667

$51,000—
Nov 23, 2020

Sold (Public Record)

Public Record #692091522

$51,000

+5.0% / yr

DateEvent & SourcePrice
12/17/2020

Sold

MiRealSource #40091025

$51,000
12/17/2020

Sold

Realcomp #2200065667

$51,000
11/23/2020

Sold (Public Record)

Public Record #692091522

$51,000

+5.0% / yr

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

Public Records for 4740 Alter Road

Taxable ValueLand-Additions-Total-
Tax Record2025$2,888 ($241 / month)
Home Facts
Baths2Total Finished SqFt2,214 SqFtAbove Grade Finished SqFt2,214 SqFtUnfinished Basement SqFt1,107 SqFtStories2Lot Size3,485 SqFtStyleDuplexYear Built1922Year Renovated1922ZoningR2CountyWAYNEAPN21062900.

Schools near 4740 Alter Road

This home is within Detroit Public Schools Community District.
Rating
School
Type
Grades
Distance
Bates Academy
Public - PK to 8
Foreign Language Immersion And Cultural Studies
Public - PK to 8
Brown Ronald Academy
Public - PK to 8
Detroit International Academy For Young Women
Public - PK to 12
Rating
School
Distance
Bates Academy
PublicPK to 8

Foreign Language Immersion And Cultural Studies
PublicPK to 8

Brown Ronald Academy
PublicPK to 8

Detroit International Academy For Young Women
PublicPK to 12

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.

Similar Homes

New listings in 48215

$79,900 | 3061 Lakewood Street, Detroit, MI 48215
1/17

$79,900

Unavailable
Bedrooms
2,728
Square Feet
0.14
Acres

3061 Lakewood Street, Detroit, MI 48215

$1,200 | 604 Alter Road, Unit 2, Detroit, MI 48215
1/19

$1,200

1
Bedrooms
858
Square Feet
0.16
Acres

604 Alter Road, Unit 2, Detroit, MI 48215

$95,000 | 4740-4742 Alter Road, Detroit, MI 48215
1/20

$95,000

4
Bedrooms
2,214
Square Feet
0.08
Acres

4740-4742 Alter Road, Detroit, MI 48215

$215,000 | 373 Marlborough Street, Detroit, MI 48215
1/19

$215,000

4
Bedrooms
1,468
Square Feet
0.11
Acres

373 Marlborough Street, Detroit, MI 48215

$50,000 | 808 Marlborough Street, Detroit, MI 48215
1/8

$50,000

4
Bedrooms
1,606
Square Feet
0.13
Acres

808 Marlborough Street, Detroit, MI 48215

$665,000 | 260 Keelson Drive, Detroit, MI 48215
1/42
New Construction

$665,000

3
Bedrooms
1,850
Square Feet
0.06
Acres

260 Keelson Drive, Detroit, MI 48215

$630,000 | 285 Keelson Drive, Detroit, MI 48215
1/42
New Construction

$630,000

3
Bedrooms
1,850
Square Feet
0.22
Acres

285 Keelson Drive, Detroit, MI 48215

$87,900 | 343 Ashland Street, Detroit, MI 48215
1/26

$87,900

3
Bedrooms
1,850
Square Feet
0.08
Acres

343 Ashland Street, Detroit, MI 48215

$299,900 | 295 Piper Boulevard, Detroit, MI 48215
1/44

$299,900

4
Bedrooms
2,619
Square Feet
0.17
Acres

295 Piper Boulevard, Detroit, MI 48215

Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 4740 Alter Road, Detroit, MI 48215
$51,000
4
2,214
3,484
4734 Alter Road, Detroit, MI 48215
$107,900
3
1.5
1,386
3,485
4748 Alter Road, Detroit, MI 48215
–
3
1
1,031
3,485
4754 Alter Road, Detroit, MI 48215
–
–
2
2,016
4,792
4726 Alter Road, Detroit, MI 48215
–
–
–
–
3,485
4764 Alter Road, Detroit, MI 48215
–
3
1
1,120
3,920

Explore Nearby Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Elite Realty

IDX provided courtesy of Realcomp II Ltd. via Compass and its related brokerages. Copyright 2026 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The data relating to real estate properties on this website was last updated on 09/15/2023 04:29 AM PST