For Sale
16241 E 7 Mile Road, Detroit, MI 48205
$230,000
MLS # 20261026758 (Realcomp)
Built 19540.12 acres
1 / 1
Listing Description
Here's a great opportunity to jump into the multi-family investment market for a great price in a good location! This 4-unit property is in great overall shape; three of the four units are rented with long-time tenants and perform well. The fourth unit is in good condition and up for rent as well. Seller also owns and has listed 19161Kelly and is willing to sell the two together on a discount. Seller will give a discount if you buy both buildings.
Source: SparkMLS
About this home
3-bath home in Burbank in Detroit built in 1954.
Currently offered at $230,000.
Annual property taxes run approximately $3,004 ($250/month). Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeMulti Family
Bathrooms3
Lot Size0.12 acres
Year Built1954
Location
CityDetroit
Zip Code48205
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
HeatingHot Water
WaterPublic
Sale & Financing
Listed4/19/2026
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$956
Tax Year2025
State Equalized Value$46,800
Assessed Value$46,800
Parcel #21021324-5
Source: Public Records
Legal Description
21021327. 1 L S MADDELEIN 704 AVALON HEIGHTS SUB L49 P100 PLATS, W C R 21/789 40 IRREG
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Gregory White
Imagine Home Realty
Frequently Asked Questions about 16241 E 7 Mile Road, Detroit, MI 48205
Which school district serves 16241 E 7 Mile Road, Detroit, MI 48205?
Per MLS# 20261026758, 16241 E 7 Mile Road, Detroit, MI 48205 is in the Detroit boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Detroit directly to confirm enrollment eligibility.
What financing options are available for 16241 E 7 Mile Road, Detroit, MI 48205?
Per MLS# 20261026758, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 16241 E 7 Mile Road, Detroit, MI 48205?
Per public tax records, annual property taxes for this property are $6,511. Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 16241 E 7 Mile Road, Detroit, MI 48205 is in an eligible area. USDA RD loans offer 0% down payment for qualified buyers. Verify current eligibility at the USDA eligibility site, as boundaries are updated periodically.
Is 16241 E 7 Mile Road, Detroit, MI 48205 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
What utilities serve 16241 E 7 Mile Road, Detroit, MI 48205?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Water: Public. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the source. Wayne County is served by CLEMIS (Courts and Law Enforcement Management Information System), which provides public safety data for Southeast Michigan law enforcement agencies.
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Tax Estimate
$
Annual tax$3,004
Monthly$250
Millage rate64.1844 mills
Municipality: Detroit
School district: DETROIT CITY SCHOOL DISTRICT
County: Wayne
Estimate based on SEV for a new buyer (taxable value resets to SEV on transfer). Actual taxes may vary. MI Treasury PT Estimator
Mortgage Calculator
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%
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Monthly payment$1,742
Principal & interest$1,492
Property taxes$250
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
16241 E 7 Mile Road, Detroit, MI 48205
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Neighborhood
Burbank
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Community
Detroit
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County
Wayne County
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