For Sale
3235 Monterey Street, Detroit, MI 48206
$315,000
MLS # 20261015773 (Realcomp)
Built 19240.14 acres
1 / 14
Listing Description
Turnkey investment opportunity located in the highly sought-after Boston-Edison Historic District. This newly renovated property is fully leased and generating $4,200 per month in rental income, making it an excellent addition to any investor’s portfolio. The property has been thoughtfully updated throughout, offering modern improvements while complementing the character of the surrounding historic neighborhood. Positioned in one of the most desirable and rapidly revitalizing areas of Detroit, the location provides convenient access to major employment centers and popular local attractions. Nearby amenities include the iconic Motown Museum, Henry Ford Hospital, and the shops, dining, and entertainment along the Woodward Avenue corridor. Surrounded by beautiful historic architecture, tree-lined streets, and continued neighborhood investment, the area continues to attract strong tenant demand. With stable income already in place and a prime location in one of Detroit’s most notable historic districts, this property presents a compelling opportunity for investors seeking both cash flow and long-term appreciation.
Source: SparkMLS
About this home
This 4-bath home built in 1924 sits in Durfee in Detroit.
Listed at $315,000.
Annual property taxes run approximately $2,073 ($173/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
Bathrooms4
Lot Size0.14 acres
Year Built1924
Location
CityDetroit
Zip Code48206
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
HeatingForced Air
WaterPublic
Sale & Financing
Listed3/10/2026
Original Price$330,000
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$3,230
Tax Year2025
State Equalized Value$32,300
Assessed Value$32,300
Parcel #12003680.
Source: Public Records
Legal Description
S MONTEREY W 1/2 299 300 LINWOOD HEIGHTS SUB L35 P6 PLATS, W C R 12/201 52.50 X 120.50
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Drake O'Donnell
NATOD Management
Frequently Asked Questions about 3235 Monterey Street, Detroit, MI 48206
What school district is 3235 Monterey Street, Detroit, MI 48206 in?
Per MLS# 20261015773, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
What type of financing is accepted for this listing?
Per MLS# 20261015773, the seller has indicated this property accepts the following financing types: Cash, Conventional. Financing acceptance is subject to change — confirm with the listing agent.
How much are property taxes for this home?
Per MLS# 20261015773, the most recent reported annual property tax for 3235 Monterey Street, Detroit, MI 48206 is $4,403. 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.
Is 3235 Monterey Street, Detroit, MI 48206 eligible for USDA financing?
Per USDA Rural Development boundary data, 3235 Monterey Street, Detroit, MI 48206 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.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 3235 Monterey Street, Detroit, MI 48206 is in flood zone X (minimal risk). 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.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Water: Public. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Wayne County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
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Tax Estimate
$
Annual tax$2,073
Monthly$173
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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Monthly payment$2,216
Principal & interest$2,043
Property taxes$173
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
3235 Monterey Street, Detroit, MI 48206
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Neighborhood
Durfee
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Community
Detroit
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County
Wayne County
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