Sold
7345 PENROD Street, Detroit, MI 48228
Sold on 05/19/2025 for$66,100
MLS # 20250010414 (Realcomp)
2 beds1 bath800 sqftBuilt 19390.12 acres
1 / 16
Listing Description
Amazing investment opportunity! This property is an instant cashflow opportunity. Property is TENANT OCCUPIED with a Supportive Housing Society at $1050/mo, the entire rent is paid by the organization. Similar to Section 8. Lease began June 2023, rent increased as of June 2024. Professionally managed rental, tenant plans to stay. Don't miss out on this rare opportunity of guaranteed rental income in Detroit. Property being sold as is. All dimensions are estimated and should be verified. Pictures of home from BEFORE tenant moved in. **Showings only with accepted offer. Property is tenant occupied, please respect their privacy.**
Source: SparkMLS
About this home
Located in Rouge in Detroit, this property offers 2-bedroom, 1-bath, 800 sq ft, with original construction dating to 1939.
Closed at $66,100 (about $83/sq ft).
Annual property taxes run approximately $1,438 ($120/month). Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Broadband is available with download speeds up to 1,200 Mbps from 7 providers. Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeResidential
Property SubtypeSingle Family Residence
Bedrooms2
Bathrooms1
Living Area800 sqft
Lot Size0.12 acres
Year Built1939
Stories2
Location
CityDetroit
Zip Code48228
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick, Vinyl Siding
HeatingForced Air
WaterPublic
SewerPublic
Sale & Financing
Listed3/26/2025
Sold Date5/18/2025
Terms AcceptedCash, Conventional
Source: SparkMLS
Tax Information
Annual Tax$1,166
Tax Year2025
State Equalized Value$22,400
Assessed Value$22,400
Parcel #22078199.
Source: Public Records
Legal Description
W PENROD 314 AND E 9 FT OF VAC ALLEY ADJ WESTHAVEN SUB L40 P75 PLATS, W C R 22/213 40 X 138
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Bailee Clanton
Home Source Realty LLC
Frequently Asked Questions about 7345 PENROD Street, Detroit, MI 48228
What school district is 7345 PENROD Street, Detroit, MI 48228 in?
Per MLS# 20250010414, 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# 20250010414, 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# 20250010414, the most recent reported annual property tax for 7345 PENROD Street, Detroit, MI 48228 is $1,233. 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 7345 PENROD Street, Detroit, MI 48228 eligible for USDA financing?
Per USDA Rural Development boundary data, 7345 PENROD Street, Detroit, MI 48228 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, 7345 PENROD Street, Detroit, MI 48228 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 7345 PENROD Street, Detroit, MI 48228?
Per FCC Broadband Data Collection filings, fiber internet is not currently available at 7345 PENROD Street, Detroit, MI 48228. The maximum advertised download speed is 1.2 Gbps. 7 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$1,438
Monthly$120
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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%
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Monthly payment$567
Principal & interest$448
Property taxes$120
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
Download
1.2 Gbps
Upload
35 Mbps
CableGSO SatelliteSatelliteLicensed Fixed WirelessDSL
7 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
7345 PENROD Street, Detroit, MI 48228
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Neighborhood
Rouge
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Community
Detroit
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County
Wayne County
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