Sold
5981 University Place, Detroit, MI 48224
Sold on 03/20/2026 for$64,000
MLS # 20251013249 (Realcomp)
3 beds1 bath964 sqftBuilt 19480.12 acres
1 / 21
Listing Description
Great investment opportunity at 5981 University Pl, Detroit, MI! This tenant-occupied home, currently on Section?8, generates $995/month in steady rental income and offers solid long-term potential. Inside, you'll find a warm and inviting layout with hardwood floors, generous natural light, and charming vintage details. Located in a well-connected Detroit neighborhood close to schools, parks, shopping, and public transportation, it’s perfect for both investors seeking reliable cash flow and buyers considering occupancy after lease end. Showings by appointment only with accepted offer. Buyer’s agent to verify all information.
Source: SparkMLS
About this home
3-bedroom, 1-bath, 964 sq ft home in Finney in Detroit built in 1948.
Final sale price: $64,000 (about $66/sq ft).
Property tax estimate: $2,580 per year ($215/month). Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Fiber internet is available at this address with download speeds up to 5,000 Mbps across 8 providers. 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 Area964 sqft
Lot Size0.12 acres
Year Built1948
Stories2
Location
CityDetroit
Zip Code48224
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
Garage2 spaces
HeatingForced Air
WaterPublic
SewerPublic
Sale & Financing
Listed7/1/2025
Sold Date3/19/2026
Original Price$94,000
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$3,140
Tax Year2025
State Equalized Value$40,200
Assessed Value$40,200
Parcel #21077459.
Source: Public Records
Legal Description
W UNIVERSITY PL 127 LODEWYCK SUB NO 1 L53 P26 PLATS, W C R 21/866 40 X 133.38A
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Arianna Lee
National Realty Centers, Inc
Frequently Asked Questions about 5981 University Place, Detroit, MI 48224
What school district is 5981 University Place, Detroit, MI 48224 in?
Per MLS# 20251013249, 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# 20251013249, 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# 20251013249, the most recent reported annual property tax for 5981 University Place, Detroit, MI 48224 is $2,954. 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 5981 University Place, Detroit, MI 48224 eligible for USDA financing?
Per USDA Rural Development boundary data, 5981 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, 5981 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.
Is fiber internet available at 5981 University Place, Detroit, MI 48224?
Per FCC broadband data, this property has access to fiber internet service. The maximum advertised download speed is 5.0 Gbps. 8 internet providers serve this address. Confirm availability and speeds directly with providers.
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$2,580
Monthly$215
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$727
Principal & interest$512
Property taxes$215
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
FiberDownload
5 Gbps
Upload
5 Gbps
FiberCableGSO SatelliteSatelliteDSLLicensed Fixed Wireless
8 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
5981 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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