Sold
5050 Somerset Avenue, Detroit, MI 48224
Sold on 06/01/2026 for$84,900
MLS # 20261029348 (Realcomp)
3 beds1 bath1,356 sqftBuilt 19280.11 acres
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Listing Description
Investment-ready opportunity: a solid 3-bedroom ranch that’s currently rented, offering immediate income for the right buyer. Updated kitchen and bathroom. Located close to shopping and a major expressway for an easy commute, this property sits in a convenient, in-demand area that appeals to renters. *****Please do not disturb the tenants. Showings will not be allowed until an offer is accepted, with no exceptions.***** Owner will provide property vacant at closing with acceptable terms if buyer wants. Owner has other rentals properties to sell and this can be bought individually or as a package deal. The other addresses are 5050 Somerset, 6334 Hereford, and 8810 Farmbrook all in Detroit. All information deemed reliable but not guaranteed. Buyers or buyer's agent to verify all information.
Source: SparkMLS
About this home
Located in Finney in Detroit, this property offers 3-bedroom, 1-bath, 1,356 sq ft, with original construction dating to 1928.
This home sold for $84,900 (about $63/sq ft).
Property tax estimate: $2,407 per year ($201/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 TypeResidential
Property SubtypeSingle Family Residence
Bedrooms3
Bathrooms1
Living Area1,356 sqft
Lot Size0.11 acres
Year Built1928
Stories2
Location
CityDetroit
Zip Code48224
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
Garage2 spaces
HeatingForced Air
WaterPublic
SewerPublic
Sale & Financing
Listed4/27/2026
Sold Date5/31/2026
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$1,883
Tax Year2025
State Equalized Value$37,500
Assessed Value$37,500
Parcel #21067106.
Source: Public Records
Legal Description
PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2021. E SOMERSET 1639 E DETROIT DEVELOPMENT COS SUB NO 3 L38 P32 PLATS, W C R 21/468 40 X 124.09A
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 James A Haidar
RE/MAX First
Frequently Asked Questions about 5050 Somerset Avenue, Detroit, MI 48224
What school district is 5050 Somerset Avenue, Detroit, MI 48224 in?
Per MLS# 20261029348, 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# 20261029348, 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# 20261029348, the most recent reported annual property tax for 5050 Somerset Avenue, Detroit, MI 48224 is $3,710. 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 5050 Somerset Avenue, Detroit, MI 48224 eligible for USDA financing?
Per USDA boundary maps, this property is located in a USDA-eligible area, which means qualified buyers may be able to finance with 0% down through the USDA Rural Development program. Confirm current eligibility directly with USDA.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 5050 Somerset Avenue, Detroit, MI 48224 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. Sewer: Public. 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$2,407
Monthly$201
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$673
Principal & interest$473
Property taxes$201
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
5050 Somerset Avenue, Detroit, MI 48224
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Neighborhood
Finney
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Community
Detroit
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County
Wayne County
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