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    1216 Waterman St Detroit, MI 48209

    For Sale
    $246,900

    Updated three-unit property near Gordie Howe International Bridge.

    Lot size:
    0.11 Acres

    Property Features for 1216 Waterman St

    General Information

    Lot size
    0.11 Acres

    Building Details

    Year built
    1926

    Source: Berkshire Hathaway HomeServices Kee Realty Agent Alesha Thomas

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Remodeled Triplex in Mexican Village

    This remodeled three-family home is located in the Mexican Village neighborhood. Each of the three units features 3 bedrooms and has been updated with luxury flooring, recessed lighting, and modern finishes. The property is legally rental certified, making it suitable for generating income or for an owner-occupant to live in one unit and rent out the others. The property is located minutes from the Gordie Howe International Bridge, which is set to open in late 2025 or 2026. The location is anticipated to experience strong growth and rising values, making this a rare find in Southwest Detroit.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1109508
    Latitude
    42.3087498

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    FAQs

    What type of property is this?
    Triplex - Updated three-unit property near Gordie Howe International Bridge.
    Where is this triplex located?
    The property is located at 1216 Waterman St Detroit, MI.
    What is the asking price?
    The asking price for this property is $246,900.
    What are key features of this property?
    This property features: - Legally rental certified three-family home offering immediate income potential.; - Prime location in Southwest Detroit near the Gordie Howe International Bridge, expected to increase property value.; - Each unit features 3 bedrooms with modern finishes throughout.
    (248) 651-1200
    Request Owner's contact information
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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
    1216 Waterman St Detroit, MI 48209
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