48204 Homes under $500,000

48204 Homes under $500,000

Welcome to the vibrant and historic neighborhood of Detroit, Michigan, specifically within the 48204 zip code! This area is a hidden gem in Wayne County, offering a unique blend of rich culture, community spirit, and affordable housing options.

The 48204 zip code is characterized by its charming tree-lined streets and a variety of architectural styles, from classic brick bungalows to more modern homes. Here, you can find a diverse selection of properties, many of which are priced under $500,000, making it an attractive option for first-time homebuyers, families, and investors alike. Whether you’re seeking a cozy starter home or a spacious residence for your growing family, the 48204 area has something to offer for everyone.

Living in this part of Detroit means being part of a dynamic community with a strong sense of pride. Residents enjoy easy access to local parks, schools, and community centers, fostering an inviting atmosphere for families and individuals. Plus, with the revitalization efforts in Detroit, you’ll find an exciting array of dining, shopping, and entertainment options just a short drive away.

The 48204 zip code is well-connected to major highways and public transportation, making commuting to downtown Detroit and beyond a breeze. With its affordability and community charm, this area is poised for growth and is a fantastic place to call home. Discover the possibilities that await you in Detroit’s 48204—where your dream home is just waiting to be found!

Newest 48204 Homes under $500,000

8621 Elmira Street, Detroit
$39,900
2 Baths ⋅ 20261089614 MLS ⋅ ACTIVE Status
INVESTOR SPECIAL! FULL REHAB OPPORTUNITY! Excellent investment opportunity at 8621 Elmira in Detroit! This 2-unit multifamily property features 2 bedrooms in each unit and offers tremendous potential for investors looking to renovate and add value to their portfolio. Property requires a full renovation, providing the opportunity to customize and maximize rental income potential. Ideal for experienced investors seeking their next value-add project. Property sold as-is. Sale subject to lender approval. Buyer to verify all property information.

8621 Elmira Street, Detroit
11961 Ohio Street, Detroit
$49,999
2 Baths ⋅ 20261089247 MLS ⋅ ACTIVE Status
Attention Investors! Detroit fixer-upper with potential! Opportunity is knocking! Calling all cash buyers, investors, flippers, and experienced rehabbers looking for their next project. This distressed two-family Detroit property offers an opportunity to renovate, restore, and maximize its value. Whether you're looking to flip, add to your rental portfolio, or create an income-producing property, the possibilities are there for someone with vision and the ability to bring this property back to life. Property needs work and is being sold AS-IS. Bring your ideas and make this your next investment!Seller is Motivated and willing to explore all offers...BATVAI

11961 Ohio Street, Detroit
4032 Carter Street, Detroit
$125,000
2 Baths ⋅ 20261088811 MLS ⋅ COMING SOON Status
Excellent investment opportunity in the City of Detroit! This fully occupied two-family duplex features two separate units, each offering 2 bedrooms and 1 full bathroom, for a total of 4 bedrooms and 2 bathrooms. The property currently generates $1,631 in monthly rental income. Both units are tenant-occupied, making this an attractive opportunity for investors looking to expand their rental portfolio with an income-producing multifamily property. Conveniently located near schools, shopping, parks, public transportation, and major freeways. Will try to accommodate showing as best as possible. Seller prefers to have no showings until there is an accepted offer.

4032 Carter Street, Detroit
12148 Stoepel Street, Detroit
$125,000
2 Baths ⋅ 20261088880 MLS ⋅ COMING SOON Status
Excellent investment opportunity in the City of Detroit! This fully occupied two-family duplex features two spacious units, each offering 3 bedrooms and 1 full bathroom, for a total of 6 bedrooms and 2 bathrooms. The property currently generates $1,693 in monthly rental income. Both units are tenant-occupied, making this an attractive opportunity for investors seeking an income producing multifamily property. Conveniently located near schools, shopping, parks, public transportation, and major freeways. Will try to accommodate showing as best as possible. Seller prefers to have no showings until there is an accepted offer.

12148 Stoepel Street, Detroit
5251 Vancouver Street E, Detroit
$129,000
3 Beds ⋅ 1 Baths ⋅ 20261087316 MLS ⋅ COMING SOON Status
LOOKING FOR A LARGE, MOVE-IN-READY, COMPLETELY REMODELED HOME IN WESTSIDE, DETROIT? Here it is! Minutes away from the Mexicantown. Whether it could be your opportunity to own this investment property of cash flow with average rents around $1,200 or for a first-time homebuyer. From the moment you walk in, you'll love the open floor plan with tons of natural light. Large living room with original wooden floors throughout the main living area. Updated kitchen w/ lots of cabinets w/ counter space has plenty of storage & cooking areas. One-of-a-kind bathroom tastefully renovated. Unfinished basement, but there is plenty of space to add an entertainment area, game room, home gym, or pantry storage. All brand-new upgrades include whole-house PEX plumbing, electrical panel & whole-house wiring, ALL vinyl windows, newer roofing, new siding & freshly painted throughout. Located blocks from Livernois Ave & Jeffries Fwy, I-94 & I-96. Close to Henry Ford Hospital, Wayne State University, Northwestern High School, the Motown Museum & the New Center area. Minutes away from Boston-Edison Historic District, Downtown, Midtown & Mexicantown, providing easy access to numerous grocery stores & restaurants. Schedule your private showing today! **** (MSHDA DOWN PAYMENT ASSISTANCE OF $7,500 UP TO $10,000 BASE ON TARGET ZIP CODE) * No Seller Financing.

5251 Vancouver Street E, Detroit
12081 Santa Rosa Drive, Detroit
$89,000
3 Beds ⋅ 1 Baths ⋅ 20261088693 MLS ⋅ ACTIVE Status
3 bedroom, 1 bathroom brick colonial home on Detroit's west side in Russel Woods. Property currented rented to tenant for $1000 per month. Please schedule showings 24 hours in advance. Seller selling their portfolio of 13 Detroit properties. Sold on Warranty Deed.

12081 Santa Rosa Drive, Detroit
8259 Kentucky Street, Detroit
$120,000
3 Beds ⋅ 2 Baths ⋅ 20261088687 MLS ⋅ ACTIVE Status
Property one of 13 that seller is selling in their portfolio. Allow Tenant 24 notice for showings

8259 Kentucky Street, Detroit
5510 Allendale Street, Detroit
$125,000
2 Baths ⋅ 20261088581 MLS ⋅ ACTIVE Status
Cash flowing duplex with professional property management. Centrally located to midtown and the northern suburbs, right off Livernois. Take advantage of this turn key investment that had sewer line replacement in 2020, vinyl replacement windows under ten years old and vinyl siding for maintenance free holding. Divided basement with laundry features and storage for each unit. Updated interiors with rental grade finishes and reliable tenants. Rents shown are actual NOT projected. BATVAI

5510 Allendale Street, Detroit
10310 Maplelawn Street, Detroit
$34,900
3 Beds ⋅ 2 Baths ⋅ 20261088376 MLS ⋅ ACTIVE Status
Investor Opportunity! Take a look at this three bedroom, two full-bathroom home. Bring your tool belt as this home needs some TLC. Whether you're looking for your next renovation project or an investment property, this home has plenty of potential. **Must be accompanied by a licensed real estate agent**

10310 Maplelawn Street, Detroit
11439 Ohio Street, Detroit
$55,000
3 Beds ⋅ 2 Baths ⋅ 20261088432 MLS ⋅ ACTIVE Status
3 Bedroom, 1.5 bathroom colonial home on Detroit's West side located off Grand River and I-96. Seller started rehab work. As is Sale. The seller is selling their Detroit portfolio of 13 properties.

11439 Ohio Street, Detroit
5378 Vancouver Street, Detroit
$152,000
2 Baths ⋅ 20261086764 MLS ⋅ ACTIVE Status
Live in one, rent the other, or rent both! Listed at $153,000, 5378–5382 Vancouver Street is an updated brick duplex with two 2-bedroom units and about 2,088 square feet. Numerous updates, appliances included, and new mechanicals add value and appeal for investors, owner-occupants, and house hackers.At projected rents of $1,250 per unit, this property offers $2,500 in monthly gross rental potential ($30,000 annually) and an estimated 12.1% pro forma cap rate. Rent both units to grow your portfolio, or occupy one while the other's rental income helps offset your housing costs.Located in Detroit’s west-side Tireman area with convenient access to New Center, Henry Ford Hospital, and Downtown’s dining, entertainment, and employment destinations. Updated, available, and ready for your next move. Schedule your showing today!Projected cap rate uses full rental income, reported annual taxes of $2,818, estimated insurance of $1,200, and a 25% allowance for vacancy and other operating costs. Actual results may vary. Buyer to verify all information.

5378 Vancouver Street, Detroit
9359 Otsego Street, Detroit
$150,000
5 Beds ⋅ 2 Baths ⋅ 20261088049 MLS ⋅ ACTIVE Status
Exceptional multifamily opportunity located in the historic Nardin Park neighborhood, one of Detroit’s most architecturally rich and rapidly reinvesting west side communities. Known for its tree-lined boulevards, classic brick colonials, and strong neighborhood identity, Nardin Park offers investors a rare combination of character, stability, and forward-looking growth. Nardin Park is a designated Strategic Neighborhood Fund (SNF) target area, placing it among Detroit’s top priorities for revitalization and long-term growth. Streetscape improvements, facade upgrades, public art, and new retail pop-ups are transforming the nearby Dexter Avenue corridor into a walkable, vibrant comunity. Property is 1 of 11 in a portfolio being sold all within the Downtown Area. Buy 1 or as many as you would like. MLS#s for the other 10 properties: 20261015005, 20261015035, 20261015052, 20261015057, 20261015574, 20261015576, 20261015577, 20261015578, 20261015583, 20261015683

9359 Otsego Street, Detroit
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