For Sale
5117 University Place, Detroit, MI 48224
$27,000
MLS # 20261045731 (Realcomp)
3 beds1 bath1,336 sqftBuilt 19370.15 acres
1 / 2
Listing Description
Great investment opportunity in Detroit’s Cornerstone Village neighborhood! This 3-bedroom, 1-bath home offers over 1,300 square feet and has tons of potential for the right investor. The property experienced fire damage and will need a full renovation, but it sits on a solid foundation and provides a great opportunity to add value. Features include a spacious floor plan and a large detached garage that was not affected by the fire. Located in an established neighborhood with many updated and well-maintained homes nearby, this property has strong upside for resale or rental income. Cash buyers only. Sold as-is. Buyer to verify all information (BATVAI).
Source: SparkMLS
About this home
3-bedroom, 1-bath, 1,336 sq ft home in Finney in Detroit built in 1937.
Listed at $27,000 (about $20/sq ft).
Annual property taxes run approximately $3,421 ($285/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 Area1,336 sqft
Lot Size0.15 acres
Year Built1937
Stories2
Location
CityDetroit
Zip Code48224
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
Garage2 spaces
HeatingForced Air
WaterPublic
SewerPublic
Sale & Financing
Listed6/16/2026
Terms AcceptedCash
Source: SparkMLS
Tax Information
Annual Tax$2,699
Tax Year2025
State Equalized Value$53,300
Assessed Value$53,300
Homestead (PRE)100%
Parcel #21077505.
Source: Public Records
Legal Description
W UNIVERSITY PL 10 FARMBROOK SUB L51 P79 PLATS, W C R 21/849 50 X 133.69
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Albert Hakim
RE/MAX First
Frequently Asked Questions about 5117 University Place, Detroit, MI 48224
What school district is 5117 University Place, Detroit, MI 48224 in?
Per MLS# 20261045731, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
Can I use FHA or VA financing for this property?
Per MLS# 20261045731, the seller has indicated this property accepts the following financing types: Cash. Financing acceptance is subject to change — confirm with the listing agent.
How much are property taxes for this home?
Per MLS# 20261045731, the most recent reported annual property tax for 5117 University Place, Detroit, MI 48224 is $3,757. 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 5117 University Place, Detroit, MI 48224 eligible for USDA financing?
Per USDA Rural Development boundary data, 5117 University Place, Detroit, MI 48224 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, 5117 University Place, 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.
Map
Tax Estimate
$
Annual tax$3,421
Monthly$285
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$460
Principal & interest$175
Property taxes$285
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
5117 University Place, 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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