242 E Palmer # 1 & 2 Detroit, MI $ 337,500
242 E Palmer # 1 & 2
$ 337,500
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242 E Palmer # 1 & 2

Detroit, MI, 48202
$ 337,500
Bedrooms3 Baths2.0 Sq 1,984

Monthly Estimate*

$ 2,021

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Condo for sale in Detroit, MI

for $337,500 with 3 bedrooms and 2 full baths. This 1,984 square foot condo was built in 1920 on a lot size of 0.2.

Welcome to Midtown Art Center! Embrace the artsy side of Midtown, where you can walk to the Detroit Institute of Arts (DIA), Wayne State University, CCS, the public library, and the historical museum, while enjoying the tranquility of a true residential neighborhood. This original brick building blends Craftsman and Loft styles and features two garden-level condominiums, currently joined into one expansive living space. Easily revertible to two distinct units, this property offers flexibility and charm. Perfect for an artist's studio or a student investment property! Live in one unit and rent the other out! The main living area of the primary residence includes a welcoming living room, dining area, and a fully equipped kitchen. It features a large bedroom with a washer/dryer and a smaller bedroom used as a home office. A connecting entryway leads to the second unit with a versatile bonus room, currently an art studio with a kiln, plus a bedroom, bathroom, partial kitchen, and washer/dryer hookup. Enjoy easy access to shopping, dining, the Q-Line, and major freeways, along with the NEZ-homestead property tax abatement ensuring long-term financial advantages. Don't miss this chance to own a unique property in Midtown Art Center, offering modern convenience and urban living at its finest.

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Condo Active

Price

$ 337,500

Bedrooms

3

Full Bath

2

Property Type

Condo

Taxes

$ 478

Style

Ranch

Lot Size

0.2

Year Built

1920

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

24039800

Features
General
Interior Features Kitchen Island
Sewer Public Sewer
Heating Forced Air
Cooling Central Air
Utilities Natural Gas Connected Cable Connected High-Speed Internet
Possession Close Of Escrow
Appliances Dryer Washer Disposal Dishwasher Microwave Range Refrigerator
Exterior Features Patio
HOA 570.0
Association Fee Includes Water Trash Snow Removal Sewer Lawn/Yard Care
Architectural Style Ranch
Construction Materials Brick
Year Built 1920
Stories 1
Township Detroit City
Unit Number 1 & 2
Property SubType Condominium
Tax Year 2023
Assoc Fee Paid Per Monthly
County Wayne
New Construction N
Property Type Residential
Home Owner Assoc Y
Garage Y/N N
Total Rooms 8
Full Baths 2
Status Active
Directions Located on Palmer Between John R and Brush
City Detroit
High School District Detroit
MLS Area Wayne County - 100
Lot Size Units Acres
Lot Size Square Feet 8550.0
Waterfront Y/N N
Carport Y/N N
Terms Cash Conventional
Land Lease Y/N N
Tax Annual Amount 478.18
Home Warranty Y/N N
Lease Renewal Y/N N
MLS Area Minor Wayne County - 100
Additional Parcels Y/N N
Rent Control Y/N N
Days on Market 47
Standard Status Active
Occupancy Type Owner
Tax Assessed Value 5213
Legal Description UNIT 1; WAYNE COUNTY CONDO PLAN NO 888''LANCASTER LOFTS'REC L43889 P149-203 DEEDS WCR 1/247 12.5% NEZ REHAB CERT #2004-0997 RELATED PARCEL #01001534.001.
Senior Community None
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Interior
Basement Slab
Total Fireplaces 0
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Half Baths 0
Laundry Features In Unit Main Level
Total Bedrooms 3
Electric On Property Y/N N
Main Level Bedrooms 3
Total Baths 2
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Exterior
Water Source Public
Lot Size Area 0.2
Spa N
Building Area Total 1984.0
Lot Dimensions 50 X 171
Lot Size Acres 0.2
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 242
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* Excluded Features
List By
Howard Hanna Real Estate

Broker

StephanieHale@HowardHanna.com

Email

Affordability Calculator

$2,061
Per Month
98%
2%
0%
Monthly Principal & Interest
$2,021
Monthly Property Taxes
$40
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3706345 Elementary School
3706341 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
8/1/2024$337,500 Listed Price

Map


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242 E Palmer # 1 & 2, Detroit, MI, 48202 is a Condo for sale at $337,500 with 1,984 sqft and a lot size of 0.2. 242 E Palmer # 1 & 2 has 3 bedrooms, 2.0 baths, and was built in 1920. The property's zip code is 48202 which is in Detroit, MI