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    497 Neff Ave Grosse Pointe, MI 48230

    For Sale
    $465,000

    Multi-Family, 2 Story - Grosse Pointe, MI

    Property size:
    2,467 SF
    Lot size:
    0.21 Acres
    Days on Market:
    45
    Last Refresh:
    Dec 5 at 12:06 pm

    Property Features for 497 Neff Ave

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Dining Room
    Bedrooms
    4
    Bathrooms
    2
    APN
    37 002 03 0015 001
    Parking features
    Garage, Garage - Detached
    Exterior features
    Park, Playground, Pool/Hot Tub, Tennis Courts
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Range, Refrigerator, Washer
    Size
    2,467 SF
    Lot size
    0.21 Acres

    Utilities

    Heating system
    Fireplace(s), Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1942
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick
    Architectural style
    Other
    Additional Structures
    Tennis Court(s)

    Beline Obeid Realty (313) 343-0100 [email protected]

    Listing agent Beline Obeid (313) 343-0100 License #6502364838

    Listing date Oct 22, 2025

    MLS# 50183735 Listing URL

    Copyright © 2025 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Grosse Pointe Two-Family Investment Property

    This two-family property presents an investment opportunity in a desirable neighborhood. Each of the two units includes two bedrooms, a full bath, a living room with a fireplace, a formal dining room, a kitchen, and a Florida room at the rear. The second-floor unit also features a small den off the living room. The open basement provides laundry facilities and additional storage space. The property, situated on a 0.21-acre lot (59 x 155), includes off-street parking, a large backyard, and a three-car garage. Each unit is separately metered for gas and electric utilities; tenants are responsible for these utilities, while the landlord covers water expenses. The property is located minutes from the Village, offering shopping and dining options, and is near a residents-only lakefront park with a swimming pool, marina, kayak launch, playground, splash pad, and picnic area. It also provides convenient access to city amenities and employment centers, with a short distance to Downtown Detroit. The first floor is leased for $1,850.00, and the second floor is leased at $1,800 per month. The property size is 2467 square feet. The seller will provide a Certificate of Occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Grosse Pointe
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9123108
    Latitude
    42.3879233

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    FAQs

    What type of property is this?
    Duplex - Two-unit property in a desirable location with income potential.
    Where is this duplex located?
    The property is located at 497 Neff Ave Grosse Pointe, MI.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: - Excellent income potential with two fully leased units generating a combined $3,650 monthly income.; - Prime location minutes from shopping, dining, and a residents-only lakefront park with extensive amenities.; - Spacious units each featuring 2 bedrooms, full bath, living room with fireplace, formal dining room, kitchen, and Florida room.
    (313) 343-0100
    Request Owner's contact information
    497 Neff Ave Grosse Pointe, MI 48230
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    497 Neff Ave Grosse Pointe, MI 48230
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