Sold for $178,500

Street View

$178,500

5061 Hillsboro St, Detroit, MI 48204

6beds

2,558sqft

Multi Family

Built in 1924

-- sqft lot

$188,300 Zestimate^®

$70/sqft

$1,382 Estimated rent

Home value

$188,300

$179,000 - $198,000

$1,382/mo

Zestimate^® history

Owner options

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$1,382/mo

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$1,382/mo

Rent Zestimate^®

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$1,299/mo

Est. payment

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$1,299/mo

Est. payment

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What's special

LOCATED 6 MINUTES FROM HISTORIC BOSTON EDISON DISTRICT YOU WILL FIND 5061 HILLSBORO NESTLED ON A 3,920 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOAST TWO 3 BEDROOM UNITS. SHE HAS BEEN CAREFULLY UPGRADED WITH 2 NEWLY INSTALLED FURNACES AND HOT WATER TANKS. IN ADDITION, THIS HOME DISPLAYS ALL NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. THIS BEAUTY HAS JUST BEEN LEASED WITH 2 SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE JUST SHY OF $3000. ALSO, THE WHOPPING RENTS OF $1542 AND $1410 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. THESE TENANTS PAYS ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20%. THE TAXES HAVE BEEN REDUCED TO ROUGHLY $150 PER MONTH. THIS DIAMOND WILL BE IN A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 2
Full bathrooms: 2

Heating

Hot Water, Natural Gas

Features

Basement: Full,Unfinished
Has fireplace: No

Interior area

Total interior livable area: 2,558 sqft
Finished area above ground: 2,558

Property

Parking

Total spaces: 1
Parking features: One Car Garage
Garage spaces: 1

Features

Levels: Two
Stories: 2
Pool features: None

Lot

Size: 3,920 Square Feet
Dimensions: 35.00 x 120.00

Details

Parcel number: W16I003840S
Zoning description: MultiFamily
Special conditions: Short Sale No,Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: Other
Property subtype: Multi Family

Materials

Brick
Foundation: Basement, Block

Condition

New construction: No
Year built: 1924

Utilities & green energy

Sewer: Sewer At Street
Water: Waterat Street

Community & HOA

Community

Subdivision: MORE THAN ONE SUBDIVISION INVOLVED

Location

Region: Detroit

Financial & listing details

Price per square foot: $70/sqft
Tax assessed value: $19,425
Annual tax amount: $2,009
Date on market: 10/13/2023
Cumulative days on market: 135 days
Listing agreement: Exclusive Right To Sell
Listing terms: Cash,Conventional
Exclusions: Exclusion(s) Do Not Exist

Price history

Date	Event	Price
3/14/2024	Sold	$178,500+586.5%$70/sqft
Source: Realcomp II #20230087719 Report a problem
6/14/2023	Sold	$26,000+4%$10/sqft
Source: Realcomp II #20230042971 Report a problem
6/30/2021	Sold	$25,000$10/sqft
Source: Public Record Report a problem
4/20/2021	Sold	$25,000+66.7%$10/sqft
Source: Agent Provided Report a problem
7/13/2016	Sold	$15,000+76.5%$6/sqft
Source: Public Record Report a problem
12/14/2007	Sold	$8,500-89.8%$3/sqft
Source: Public Record Report a problem
10/11/2006	Sold	$83,000+18.2%$32/sqft
Source: Public Record Report a problem
6/21/2006	Sold	$70,213+37.1%$27/sqft
Source: Public Record Report a problem
5/9/2003	Sold	$51,200$20/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	--	$28,300 +23.6%
2024	--	$22,900 +23.8%
2023	--	$18,500 +25.9%
2022	--	$14,700 +5%
2021	--	$14,000
2020	$2,302 +37%	$14,000 -6.7%
2019	$1,680	$15,000 -3.2%
2018	$1,680	$15,500 -2.5%
2017	--	$15,900 -59.4%
2016	$1,692	$39,200 +237.9%
2015	$1,692 +22.6%	$11,600 -28%
2013	$1,380 -18.4%	$16,116 -18.5%
2010	$1,692	$19,775 -12%
2009	--	$22,472 -10.5%
2008	--	$25,108 -11.3%
2007	--	$28,318 +5.5%
2005	$326	$26,842 +3%
2004	--	$26,060