Residential Development
For Sale
$40,000
1157 Edison Street, Detroit, MI 48202
Vacant residential lot measuring 40 by 133.50, offered for sale in the Boston/Edison area near major Detroit institutions.
Property SizeContact for details
Lot Size0.12 Acres
Days on Market849
Property Features for 1157 Edison Street
General Information
Standard status
Active
Lot size
0.12 Acres
Property subtype
Land
Listing Agency:
Bellabay Realty Tri Counties
(313) 204-0310
Listed By:
Natasha C Richards · License #6502385914
(313) 204-0310
Source:
Compass
Added: Apr 17, 2024
Changed: Aug 8
Last Checked: Jul 20 at 3:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bellabay Realty Tri Counties
Investment Insights
Based on property information with market context.
This offering is a vacant residential development lot in Detroit’s Boston/Edison district. The property measures 40 by 133.50 and is presented as ready for new home construction.
The site is described as being close to Henry Ford Hospital, Wayne State University, Midtown, and minutes from Downtown. Interested buyers are directed to consult the provided proposal guidelines for new build opportunities, and to review relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional neighborhood context.
The DLBA advises that it is entitled to a tax capture for the five tax years following transfer of ownership, which may be incompatible with tax abatements otherwise available to the purchaser. The DLBA will consider requests to waive its tax capture rights and may require a payment in lieu of taxes, determined based on the development pro forma and the impact of any tax abatement on purchase and development financing.
The site is described as being close to Henry Ford Hospital, Wayne State University, Midtown, and minutes from Downtown. Interested buyers are directed to consult the provided proposal guidelines for new build opportunities, and to review relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional neighborhood context.
The DLBA advises that it is entitled to a tax capture for the five tax years following transfer of ownership, which may be incompatible with tax abatements otherwise available to the purchaser. The DLBA will consider requests to waive its tax capture rights and may require a payment in lieu of taxes, determined based on the development pro forma and the impact of any tax abatement on purchase and development financing.
Key Highlights
- Vacant residential lot in the Boston/Edison area measuring 40 x 133.50
- Close to Henry Ford Hospital and Wayne State University
- Minutes from Downtown Detroit
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Vacant residential lot measuring 40 by 133.50, offered for sale in the Boston/Edison area near major Detroit institutions.
Where is this residential land & home lot located?
The property is located at 1157 Edison Street Detroit, MI.
What is the asking price?
The asking price for this property is $40,000.
What are key features of this property?
This property features: Vacant residential lot in the Boston/Edison area measuring 40 x 133.50; Close to Henry Ford Hospital and Wayne State University; Minutes from Downtown Detroit
