Sold
5061 HILLSBORO Street, Detroit, MI 48204
Sold on 03/14/2024 for$178,500
MLS # 20230087719 (Realcomp)
Built 19240.09 acres
1 / 42
Listing Description
LOCATED 6 MINUTES FROM HISTORIC BOSTON EDISON DISTRICT YOU WILL FIND 5061 HILLSBORO NESTLED ON A 3,920 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOAST TWO 3 BEDROOM UNITS. SHE HAS BEEN CAREFULLY UPGRADED WITH 2 NEWLY INSTALLED FURNACES AND HOT WATER TANKS. IN ADDITION, THIS HOME DISPLAYS ALL NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. THIS BEAUTY HAS JUST BEEN LEASED WITH 2 SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE JUST SHY OF $3000. ALSO, THE WHOPPING RENTS OF $1542 AND $1410 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. THESE TENANTS PAYS ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20%. THE TAXES HAVE BEEN REDUCED TO ROUGHLY $150 PER MONTH. THIS DIAMOND WILL BE IN A LUCKY OWNER'S FINGERTIPS SOON! NO
Source: SparkMLS
About this home
Located in Tireman in Detroit, this property offers 2-bath, with original construction dating to 1924.
This home sold for $178,500.
Property tax estimate: $1,816 per year ($151/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
Bathrooms2
Lot Size0.09 acres
Year Built1924
Location
CityDetroit
Zip Code48204
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
HeatingHot Water
Sale & Financing
Listed10/12/2023
Sold Date3/13/2024
Original Price$225,000
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$2,830
Tax Year2025
State Equalized Value$28,300
Assessed Value$28,300
Parcel #16003840.
Source: Public Records
Legal Description
S HILLSBORO 25 SECOND ADDITION TO DAILEY PARK SUB L32 P47 PLATS, W C R 16/166 REAR W 5.19 FT 100 FREDERICK C MARTINDALE SUB L32 P19 PLATS, W C R 16/167 35 X 120
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Marta Kopania
Realtyflo Inc
Frequently Asked Questions about 5061 HILLSBORO Street, Detroit, MI 48204
What school district is 5061 HILLSBORO Street, Detroit, MI 48204 in?
Per MLS# 20230087719, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
What financing options are available for 5061 HILLSBORO Street, Detroit, MI 48204?
Per MLS# 20230087719, 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# 20230087719, the most recent reported annual property tax for 5061 HILLSBORO Street, Detroit, MI 48204 is $2,009. 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 5061 HILLSBORO Street, Detroit, MI 48204 eligible for USDA financing?
Per USDA Rural Development boundary data, 5061 HILLSBORO Street, Detroit, MI 48204 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, 5061 HILLSBORO Street, Detroit, MI 48204 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. 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.
Map
Tax Estimate
$
Annual tax$1,816
Monthly$151
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$1,286
Principal & interest$1,135
Property taxes$151
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
5061 HILLSBORO Street, Detroit, MI 48204
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Neighborhood
Tireman
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Community
Detroit
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County
Wayne County
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