For Sale
5540 Guilford Street, Detroit, MI 48224
$62,000
MLS # 26019543 (Michigan Regional Information Center (MichRIC))
3 beds2 baths1,169 sqftBuilt 19280.16 acres
1 / 26
Listing Description
This all-brick property presents a strong opportunity for a savvy investor or handyman looking for their next rehab project. Featuring three bedrooms, one full bathroom, and one half bath, this home offers a functional layout ready for renovation. Built in 1928, the property retains classic character and includes a full basement and a spacious yard, providing additional flexibility for improvements and long-term use. The home is being sold as-is and will require a full rehab due to smoke damage, making it ideal for investors seeking a project with clear value-add potential. Whether your strategy is to renovate and resell or hold as a rental, this property offers a solid foundation to execute your vision. The large yard and brick construction add to its appeal, while the existing layout supports a straightforward renovation plan. Located in an established neighborhood, the property is surrounded by similar homes and ongoing investment activity, supporting long-term upside.
Source: SparkMLS
About this home
3-bedroom, 2-bath, 1,169 sq ft home in Finney in Detroit built in 1928.
Asking $62,000 (about $53/sq ft).
Property tax estimate: $2,150 per year ($179/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
Bathrooms2
Living Area1,169 sqft
Lot Size0.16 acres
Year Built1928
Stories1
Location
CityDetroit
MunicipalityDetroit City
Zip Code48224
CountyWayne
School DistrictDetroit
Construction & Systems
StyleRanch
ConstructionBrick
BasementOther
HeatingHot Water
WaterPublic
SewerPublic
Sale & Financing
Listed5/1/2026
Terms AcceptedCash
Source: SparkMLS
Tax Information
Annual Tax$1,513
Tax Year2025
State Equalized Value$33,500
Assessed Value$33,500
Homestead (PRE)100%
Parcel #21075676.
Source: Public Records
Legal Description
E GUILFORD 158 GROSSE PTE HIGHLANDS SUB L36 P61 PLATS, W C R 21/814 60 X 114.46
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Charles Campbell
ListWithFreedom.com
Frequently Asked Questions about 5540 Guilford Street, Detroit, MI 48224
What school district is 5540 Guilford Street, Detroit, MI 48224 in?
Per MLS# 26019543, 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# 26019543, 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# 26019543, the most recent reported annual property tax for 5540 Guilford Street, Detroit, MI 48224 is $1,237 (2025). 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 5540 Guilford Street, Detroit, MI 48224 eligible for USDA financing?
Per USDA Rural Development boundary data, 5540 Guilford Street, 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, 5540 Guilford Street, 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$2,150
Monthly$179
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$581
Principal & interest$402
Property taxes$179
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
5540 Guilford Street, 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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