Sold
575 E TROY Street, Ferndale, MI 48220
Sold on 07/22/2025 for$1,200,000
MLS # 20250037682 (Realcomp)
Built 19720.25 acres
1 / 10
Listing Description
The Troy Street Apartments are located in Ferndale, Michigan conveniently off of Woodward and Troy Street. The property consists of 8 apartment units which are 100% occupied grossing over $8,365 per month in rent. These are loft style apartments consisting of 5 one bedroom one bath, and 3 two bedroom one bath units.The property is located on the heart of Ferndale, walkable to many popular restaurants and bars. Over 500 units of new construction multifamily housing have been going up within a 2 mile radius of the property at an average rent of $1,500 per unit which as placed an upward movement on existing rents.
Source: SparkMLS
About this home
8-bath home in Ferndale in Ferndale built in 1972.
Closed at $1,200,000.
Annual property taxes run approximately $13,563 ($1,130/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by DTE Electric Company; natural gas by Consumers Energy Company. Fiber internet is available at this address with download speeds up to 5,000 Mbps across 10 providers.
Listing Property Details
Property TypeMulti Family
Bathrooms8
Lot Size0.25 acres
Year Built1972
Location
CityFerndale
MunicipalityFerndale City
Zip Code48220
CountyOakland
School DistrictFerndale
Construction & Systems
ConstructionVinyl Siding
HeatingBaseboard
WaterPublic
Sale & Financing
Listed5/20/2025
Sold Date7/21/2025
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$13,563
State Equalized Value$289,910
Taxable Value$181,340
Parcel #2534226013
Source: Public Records
Legal Description
T1N, R11E, SEC 34 THE LITTLE FARMS SUB LOT 239
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Brady Williams
Greater Development LLC
Frequently Asked Questions about 575 E TROY Street, Ferndale, MI 48220
Which school district serves 575 E TROY Street, Ferndale, MI 48220?
Per MLS# 20250037682, 575 E TROY Street, Ferndale, MI 48220 is in the Ferndale boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Ferndale directly to confirm enrollment eligibility.
Can I use FHA or VA financing for this property?
Per MLS# 20250037682, this listing accepts Cash, Conventional financing. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 575 E TROY Street, Ferndale, MI 48220?
Per public tax records, annual property taxes for this property are $13,563. 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.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 575 E TROY Street, Ferndale, MI 48220 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.
Is 575 E TROY Street, Ferndale, MI 48220 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. 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.
What internet service is available at this address?
Per FCC Broadband Data Collection filings, fiber internet is available at 575 E TROY Street, Ferndale, MI 48220. The maximum advertised download speed is 5.0 Gbps. 10 internet providers serve this address. Confirm availability and speeds directly with providers.
What utilities serve 575 E TROY Street, Ferndale, MI 48220?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: Consumers Energy Company. Water: Public. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the source. Oakland County is served by CLEMIS (Courts and Law Enforcement Management Information System), which provides public safety data for Southeast Michigan law enforcement agencies.
Map
Mortgage Calculator
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Monthly payment$7,783
Principal & interest$7,783
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
FiberDownload
5 Gbps
Upload
5 Gbps
FiberCableLicensed Fixed WirelessGSO SatelliteSatelliteDSL
10 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
575 E TROY Street, Ferndale, MI 48220
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Municipality
Ferndale
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County
Oakland County
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