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586 University Place, Grosse Pointe, MI 48230
$700,000
MLS # 50211454 (MiRealSource)
4 beds2 bathsBuilt 19330.18 acres
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Listing Description
Welcome to 586 University Place in highly sought-after Grosse Pointe City, Michigan. This classic Grosse Pointe Colonial offers 4 bedrooms, 2.1 baths, and approximately 2,447 square feet of beautifully maintained living space in one of Metro Detroit’s most desirable residential communities. Filled with timeless character and everyday functionality, this home features hardwood floors, spacious living and dining areas, a warm fireplace, an updated kitchen, generous bedroom space, a convenient mud room, and a finished lower level that provides additional space for entertaining, work, play, or fitness. Important updates include newer windows, an updated boiler, and a newer garage with walk-up storage, adding comfort, value, and everyday convenience. The private backyard and patio create an inviting outdoor setting for relaxing or entertaining. Located in the heart of Grosse Pointe City, residents enjoy access to the private lakefront city park, award-winning Grosse Pointe schools, nearby shopping, dining, parks, and the charm of one of Michigan’s most recognizable historic communities. If you are searching for a 4-bedroom home in Grosse Pointe, a classic Colonial in Grosse Pointe City, or a move-in ready home near Lake St. Clair, 586 University Place delivers the location, lifestyle, updates, and character buyers are looking for.
Source: SparkMLS
About this home
This 4-bedroom, 2-bath home built in 1933 sits in Grosse Pointe in Grosse Pointe.
Listed at $700,000.
Annual property taxes run approximately $13,623 ($1,135/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
Bedrooms4
Bathrooms2
Lot Size0.18 acres
Year Built1933
Location
CityGrosse Pointe
MunicipalityGrosse Pointe City
Zip Code48230
CountyWayne
School DistrictGrosse Pointe
Construction & Systems
BasementSlab
Garage2 spaces
HeatingHot Water
SewerPublic
Sale & Financing
Listed6/14/2026
Terms AcceptedCash, Conventional, FHA, VA Loan
Source: SparkMLS
Tax Information
Annual Tax$14,911
Tax Year2025
State Equalized Value$260,500
Assessed Value$260,500
Homestead (PRE)100%
Parcel #37 003 07 0062 000
Source: Public Records
Legal Description
CYS62 LOT 62 GROSSE POINTE COLONY SUB OF LOTS 18 19 20 ETC PC 299 300 458 L31 P95 WCR K 66.78
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 Dean J. Sine
Sine & Monaghan LLC
Frequently Asked Questions about 586 University Place, Grosse Pointe, MI 48230
What school district is 586 University Place, Grosse Pointe, MI 48230 in?
Per MLS# 50211454, this property is served by Grosse Pointe. 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# 50211454, the seller has indicated this property accepts the following financing types: Cash, Conventional, FHA, VA Loan. FHA financing can offer lower down payment requirements for qualified buyers. Financing acceptance is subject to change — confirm with the listing agent.
Is 586 University Place, Grosse Pointe, MI 48230 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, 586 University Place, Grosse Pointe, MI 48230 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. 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$13,623
Monthly$1,135
Millage rate52.2962 mills
Municipality: Grosse Pointe City
School district: GROSSE POINTE PUBLIC SCHS
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$5,675
Principal & interest$4,540
Property taxes$1,135
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
586 University Place, Grosse Pointe, MI 48230
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Municipality
Grosse Pointe
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County
Wayne County
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