For Sale
2987 Franklin Street, 2D, Detroit, MI 48207
$249,000
MLS # 20261032678 (Realcomp)
1 bed1 bath690 sqftBuilt 2022
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Listing Description
True loft living inside a converted manufacturing warehouse from 1905, this beautiful one-bedroom loft has large warehouse windows and original features: exposed brick walls; polished concrete floors; steel beams; and tall ceilings with exposed original wood beams. Housed in East Rivertown's historic Dongan Building—originally built to manufacture military parts during World War II—the condo's renovated, monochromatic kitchen features black cabinets with bright white countertops, concrete farmhouse sink, and a beautiful marble-top island. The bedroom has industrial glass and steel sliding doors, revealing a large walk-in closet and laundry. The bathroom is finished with dual sinks, custom tile-work and a walk-in shower with shower niche. The building features a common rooftop area, keyless entry, security cameras, additional resident storage, and HOA allows for short-term rentals.There are two gated parking spaces included; and NEZ-approved tax breaks until 2035.
Source: SparkMLS
About this home
This 1-bedroom, 1-bath, 690 sq ft home built in 2022 sits in Near East Riverfront in Detroit.
Asking $249,000 (about $361/sq ft).
Property tax estimate: $408 per year ($34/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 DTE Gas Company.
Listing Property Details
Property TypeResidential
Property SubtypeCondominium
Bedrooms1
Bathrooms1
Living Area690 sqft
Year Built2022
Stories1
Location
CityDetroit
Zip Code48207
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
BasementSlab
HeatingForced Air, Heat Pump
Sale & Financing
Listed5/7/2026
Terms AcceptedCash, Conventional
HOA
HOA Fee$202 / Monthly
IncludesLawn/Yard Care, Snow Removal, Trash, Water
Source: SparkMLS
Tax Information
Annual Tax$408
Source: SparkMLS
Legal Description
N FRANKLIN UNIT NO 5 WAYNE COUNTY CONDO PLAN NO 1095 "FRANKLIN 2987 LOFTS CONDOMINIUM" RECORDED L54500 P897 DEEDS W C R 11/14 2.76%; 690 SQ FT SPLIT/COMBINED ON 10/05/2017 FROM 11000072-4, 11000075.; SPLIT/COMBINED ON 11/06/2018 FROM 11000072-5;
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by James Tumey
O'Connor Realty Detroit, LLC
Frequently Asked Questions about 2987 Franklin Street, 2D, Detroit, MI 48207
Which school district serves 2987 Franklin Street, 2D, Detroit, MI 48207?
Per MLS# 20261032678, 2987 Franklin Street, 2D, Detroit, MI 48207 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.
Can I use FHA or VA financing for this property?
Per MLS# 20261032678, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 2987 Franklin Street, 2D, Detroit, MI 48207?
Per public tax records, annual property taxes for this property are $408. 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, 2987 Franklin Street, 2D, Detroit, MI 48207 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
Is 2987 Franklin Street, 2D, Detroit, MI 48207 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 2987 Franklin Street, 2D, Detroit, MI 48207?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE 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. 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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Monthly payment$1,817
Principal & interest$1,615
HOA$202
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
2987 Franklin Street, 2D, Detroit, MI 48207
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Neighborhood
Near East Riverfront
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Community
Detroit
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County
Wayne County
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