903 Alter Road

Sold 11/2/22

Last Sold Price

$137,500

4 beds2 baths2,184 sqft$63/sqft

903 Alter Road, Detroit, MI 48215

Description

Excellent multifamily investment opportunity South of Jefferson in the rapidly appreciating Jefferson Chalmers neighborhood! Rare 2 unit townhouse style building! 3 bedroom townhouses with 1 full bath, Beautiful fireplace in living rooms, private basements, back porches and yard! Excellent layout and large bedrooms. Market rents of $1,200 per unit achievable for location and size of apartments. Tenants pay gas/ electric. Located steps from Coriander Kitchen & Farm- Detroit's hottest restaurant, Detroit...Excellent multifamily investment opportunity South of Jefferson in the rapidly appreciating Jefferson Chalmers neighborhood! Rare 2 unit townhouse style building! 3 bedroom townhouses with 1 full bath, Beautiful fireplace in living rooms, private basements, back porches and yard! Excellent layout and large bedrooms. Market rents of $1,200 per unit achievable for location and size of apartments. Tenants pay gas/ electric. Located steps from Coriander Kitchen & Farm- Detroit's hottest restaurant, Detroit River Sports, and Grosse Pointe Park. Fantastic opportunity for an owner user to defray living costs or for an investor to raise rents to market rate - cash out refi or enjoy strong cashflow.

LISTING CLOSED: 11/02/2022 12:54 PM

Listed by Peter N Maniaci • Brokerage DRE #6505005532 • Jim Saros Real Estate Services
P: (313) 657-4187 C: (313) 657-4187 pmaniaci@sarosres.com

Property Details for 903 Alter Road

Status

Sold

MLS #

20221024581

Days on Market

Taxes

$1,228 / year

HOA Fees

Condo/Co-op Fees

Property Type

Multi Family

MLS Type

Residential Income / Multi Family

Year Built

1920

Lot Size

0.07 AC / 3,049 SF

County

Wayne County

Subdivision Name

FOX CREEK (PLATS)

Architectural Style

Duplex

Waterfront

Zoning Description

Multi Family

Senior Community

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Location

Listing Courtesy of Jim Saros Real Estate Services

Sold By Ace of Real Estate LLC

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Building Information for 903 Alter Road

Stories-Residences2Year Built1920Building Size-Lot Size0.07 AC / 3,049 SF

Payment Calculator

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$801 per month

30 year fixed, 6.55% Interest

Principal and Interest

$699

Property Taxes

$102

HOA Dues

The Payment Calculator is for illustrative purposes only.

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Property Information for 903 Alter Road

Summary

Location and General Information

Directions: South of Jefferson West side of Alter
Latitude: 42.37371586

Longitude: -82.93907698
Cross Street: Jefferson and Alter
MLS Area Major: Area05066Det Mcclellan East Mack To Shore

Taxes and HOA

Parcel Number: W21I063248S
Tax Amount Summer: $1,095.00

Tax Amount Winter: $133.00
Tax Annual Amount: $1,228.00
Tax Assessed Value: $14,052.00
Tax Legal Description: W ALTER RD E 67.90 FT OF S 13.50 FT 436 E 67.90 FT 437 FOX CREEK SUB L25 P73 PLATS, W C R 21/295 43.50 X 67.90
Tax Other Annual Assessment Amount: $240.00

School Information

High School District: Detroit

Property

Lot Information

Lot Size Acres: 0.07
Lot Size Area: 0.07

Lot Size Dimensions: 44.00 x 68.00
Lot Size Units: Acres
Road Frontage Type: Paved

Property and Assessments

State Equalized Value: 22500.0
Living Area: 2184.0

Above Grade Finished Area: 2184.0
Above Grade Finished Area Units: Square Feet
Below Grade Total Area: 2162.0
Class Name: Residential Income
Living Area Source: Assessor
New Construction: No
Year Built: 1920

Building Features

Construction Materials: Brick
Foundation Details: Basement, Brick Mortar

Levels: Two

Utilities

Sewer: Public Sewer

Interior and Exterior Features

Interior Features

Bathrooms Total Notational: 2.0
Basement: Unfinished

Has Basement: Yes
Bathrooms Full: 2
Bathrooms Total Integer: 2
Has Cooling: No
Fireplace: No
Heating: Hot Water, Natural Gas
Has Heating: Yes
UnitTwoBedNumberOf: 2

Multi Family

Multi Family Information

Number of Units Leased: 1
Number of Units Total: 2

Income & Expenses

Gross Scheduled Income: $24,000.00

Agent

Sale and Listings

Public GLR Website: Yes

Rental

Rent Information

Monthly Rental Income: $850.00
Existing Lease: Yes

Pets Allowed: Call
Rent Includes: Water
Rent Spree: No

Property History for 903 Alter Road

Date	Event & Source	Price	Appreciation
Nov 2, 2022	Sold Realcomp #20221024581		—
Oct 27, 2022	Contract Signed Realcomp #20221024581		—
Oct 19, 2022	Sold MiRealSource #60124910	$137,500	—
Oct 19, 2022	Sold Realcomp #20221024581	$137,500	—
Oct 11, 2022	Sold (Public Record) Public Record #1500299535	$137,500	—
Oct 11, 2022	Sold (Public Record) Public Record #1500299535	$137,500	+21.4% / yr
Sep 30, 2022	Contract Signed MiRealSource #60124910		—
Aug 24, 2022	Listed (Active) MiRealSource #60124910	$199,000	—
Aug 24, 2022	Listed (Active) Realcomp #20221024581	$199,000	—
Sep 16, 2015	Sold (Public Record) Public Record #560441353	$35,000	-5.3% / yr
Sep 15, 2015	Sold Realcomp #215090822	$35,000	—
Sep 15, 2015	Sold MiRealSource #20593235	$35,000	—
Sep 1, 2015	Contract Signed Realcomp #215090822		—
Aug 31, 2015	Contract Signed MiRealSource #20593235		—
Aug 21, 2015	Listed (Active) MiRealSource #20593235	$50,000	—
Aug 21, 2015	Listed (Active) Realcomp #215090822	$50,000	—
Oct 22, 2012	Sold (Public Record) Public Record #346141843	$41,000	+2780.1% / yr
Jun 1, 2012	Sold (Public Record) Public Record #334235527	$11,000	—
Jun 1, 2012	Sold Realcomp #212024588	$11,000	—
Apr 23, 2012	Contract Signed Realcomp #212024588		—
Mar 6, 2012	Listed (Active) Realcomp #212024588	$13,500	—
Feb 24, 2000	Sold Realcomp #58000009474	$72,000	—
Dec 17, 1999	Contract Signed Realcomp #58000009474		—
Nov 23, 1999	Listed (Active) Realcomp #58000009474	$86,900	—

Date	Event & Source	Price
11/02/2022	Sold Realcomp #20221024581	—
10/27/2022	Contract Signed Realcomp #20221024581	—
10/19/2022	Sold MiRealSource #60124910	$137,500
10/19/2022	Sold Realcomp #20221024581	$137,500
10/11/2022	Sold (Public Record) Public Record #1500299535	$137,500
10/11/2022	Sold (Public Record) Public Record #1500299535	$137,500 +21.4% / yr
09/30/2022	Contract Signed MiRealSource #60124910	—
08/24/2022	Listed (Active) MiRealSource #60124910	$199,000
08/24/2022	Listed (Active) Realcomp #20221024581	$199,000
09/16/2015	Sold (Public Record) Public Record #560441353	$35,000 -5.3% / yr
09/15/2015	Sold Realcomp #215090822	$35,000
09/15/2015	Sold MiRealSource #20593235	$35,000
09/01/2015	Contract Signed Realcomp #215090822	—
08/31/2015	Contract Signed MiRealSource #20593235	—
08/21/2015	Listed (Active) MiRealSource #20593235	$50,000
08/21/2015	Listed (Active) Realcomp #215090822	$50,000
10/22/2012	Sold (Public Record) Public Record #346141843	$41,000 +2780.1% / yr
06/01/2012	Sold (Public Record) Public Record #334235527	$11,000
06/01/2012	Sold Realcomp #212024588	$11,000
04/23/2012	Contract Signed Realcomp #212024588	—
03/06/2012	Listed (Active) Realcomp #212024588	$13,500
02/24/2000	Sold Realcomp #58000009474	$72,000
12/17/1999	Contract Signed Realcomp #58000009474	—
11/23/1999	Listed (Active) Realcomp #58000009474	$86,900

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

Public Records for 903 Alter Road

Taxable ValueLand-Additions-Total-

Tax Record2023$3,834 ($320 / month)

Home Facts

Baths2Total Finished SqFt2,184 SqFtAbove Grade Finished SqFt2,184 SqFtStories2Lot Size3,049 SqFtStyleDuplexYear Built1920ZoningR2CountyWAYNEAPN21063248.Fireplace TypeHas Fireplace

Schools near 903 Alter Road

This home is within Detroit Public Schools Community District.


Rating	School	Type	Grades	Distance
8/10	Bates Academy	Public - Serves this home	PK to 8	12.2 mi
8/10	Foreign Language Immersion And Cultural Studies	Public - Serves this home	PK to 8	13.2 mi
4/10	Carstens Elementary-Middle School	Public - Serves this home	PK to 8	0.8 mi
6/10	Detroit International Academy For Young Women	Public - Serves this home	PK to 12	6.2 mi
3/10	East English Village Preparatory Academy	Public - Serves this home	9 to 12	2.4 mi
6/10	Davis Aerospace High School	Public - Nearby school	9 to 12	0.7 mi
NR	St. Ambrose Academy	Private - Nearby school	PK to 8	0.2 mi
NR	Grosse Pte Christian Day School	Private - Nearby school	K to 8	0.9 mi


Rating	School	Distance
8/10	Bates Academy PublicPK to 8 Serves this home	12.2 mi
8/10	Foreign Language Immersion And Cultural Studies PublicPK to 8 Serves this home	13.2 mi
4/10	Carstens Elementary-Middle School PublicPK to 8 Serves this home	0.8 mi
6/10	Detroit International Academy For Young Women PublicPK to 12 Serves this home	6.2 mi
3/10	East English Village Preparatory Academy Public9 to 12 Serves this home	2.4 mi
6/10	Davis Aerospace High School Public9 to 12 Nearby school	0.7 mi
NR	St. Ambrose Academy PrivatePK to 8 Nearby school	0.2 mi
NR	Grosse Pte Christian Day School PrivateK to 8 Nearby school	0.9 mi

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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Nearby home values

Address	Sold price	Beds	Baths	Sqft	Lot (Sqft)
This home: 903 Alter Road, Detroit, MI 48215	$137,500	4	2	2,184	3,049
911 Alter Road, Detroit, MI 48215	$185,000	6	2	2,200	3,049
911-13 Alter Road, Detroit, MI 48215	$148,000	4	2	2,284	3,049
911-913 Alter Road, Detroit, MI 48215	$86,000	4	2	2,184	3,049
897 Alter Road, Detroit, MI 48215	$4,500	3	1	1,050	1,742
925 Alter Road, Detroit, MI 48215	–	–	–	–	6,795
920 Ashland Street, Detroit, MI 48215	–	–	–	–	9,583
889 Alter Road, Detroit, MI 48215	$1,757	–	1	1,110	3,485
904 Ashland Street, Detroit, MI 48215	$200,000	4	2	1,740	3,920
886 Ashland Street, Detroit, MI 48215	–	–	2	1,927	6,970
926 Ashland Street, Detroit, MI 48215	–	–	–	–	6,795
878 Ashland Street, Detroit, MI 48215	$230,000	4	2	2,448	10,454
896 Alter Road, Detroit, MI 48215	$215,000	4	4	3,308	6,969
904-906 Alter Road, Detroit, MI 48215	$70,000	6	2	3,024	6,969
904 Alter Road, Detroit, MI 48215	$185,000	6	2	3,024	6,969
914 Alter Road, Detroit, MI 48215	$142,500	6	3	3,058	6,969

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Listing Courtesy of Jim Saros Real Estate Services

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