For Sale
224 Chandler Street, Romeo, MI 48065
$399,900
MLS # 20261010122 (Realcomp)
Built 19500.18 acres
1 / 28
Listing Description
LAND CONTRACT TERMS: $230,000 DOWN 7% AMORTIZED OVER 30 YEARS, BALLOON BALANCE AFTER 5 YEARS....Excellent investment opportunity in the heart of Romeo just walking distance to vibrant downtown shops, restaurants, and community events. This well-maintained 4-unit multi-family property features two spacious 1-bedroom, 1-bath units, including two main-level units and two upper studio units. Two of the units offer full basements for additional storage and functionality. All units are occupied by long-term tenants, providing immediate and stable cash flow. Current gross monthly income is $3,415 with strong upside potential, as market rents could support income exceeding $4,000 per month. The property offers plenty of on-site parking to accommodate all occupants. The owner currently pays water, a small common electric bill, gas, lawn care, and snow removal. The roof is newer, and the building has been consistently well maintained, contributing to excellent tenant retention. To avoid disturbing tenants, showings will be scheduled upon an accepted offer only.
Source: SparkMLS
About this home
4-bath home in Bruce Township in Romeo built in 1950.
Asking $399,900.
Property tax estimate: $8,427 per year ($702/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by DTE Electric Company; natural gas by SEMCO Energy Gas Company.
Listing Property Details
Property TypeMulti Family
Bathrooms4
Lot Size0.18 acres
Year Built1950
Location
CityRomeo
MunicipalityVillage of Romeo
Zip Code48065
CountyMacomb
School DistrictRomeo
Construction & Systems
ConstructionAluminum Siding, Brick
HeatingForced Air
Sale & Financing
Listed2/17/2026
Original Price$460,000
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$8,427
State Equalized Value$184,500
Taxable Value$143,600
Parcel #01-35-352-011
Source: Public Records
Legal Description
T5N R12E SEC 35 ASSESSOR PLAT NO 2 A PART OF LOT 22 DESC AS; BEG AT A PTE ON W LINE LOT 22 N00*08'E 175.52 FT FR SW COR LOT 22; TH EXT N00*E 120.70 FT ALG W LINE LOT 22; TH N88*47'05"E 66.0 FT ALG N LINE OF LOT 22; TH S00*07'52"W 121.74 FT ALG E LINE LOT 22; TH S89*41'W 66.0 FT TO POB. VILLAGE OF ROMEO MANATRON #: 043-502-022-20
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 Jonathan E Foukes
Move Realty LLC
Frequently Asked Questions about 224 Chandler Street, Romeo, MI 48065
Which school district serves 224 Chandler Street, Romeo, MI 48065?
Per MLS# 20261010122, 224 Chandler Street, Romeo, MI 48065 is in the Romeo boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Romeo directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 20261010122, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 224 Chandler Street, Romeo, MI 48065?
Per public tax records, annual property taxes for this property are $8,427. 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, 224 Chandler Street, Romeo, MI 48065 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 224 Chandler Street, Romeo, MI 48065 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 224 Chandler Street, Romeo, MI 48065?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: SEMCO Energy Gas Company. 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. Macomb 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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Monthly payment$2,594
Principal & interest$2,594
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
DTE Electric Company
Investor-Owned
SEMCO Energy Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
224 Chandler Street, Romeo, MI 48065
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Municipality
Bruce Township
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County
Macomb County
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