$4,738 Closing Credit¹
#81024043926, Barry Kenyon, Listing Office: Real Estate One
$4,750
closing credit¹
501 Washtenaw Rd Ypsilanti, MI 48197
$400,000 List price
$4,750
Closing credit¹
4 full
2,506 sqft
$160 / sqft
Multi-Family
Property details
About 501 Washtenaw Rd
***Turn-Key Investment Property On Eastern Michigan University’s Campus! This exceptional duplex, zoned R-3, offers incredible income potential just steps from Eastern Michigan University's campus. Lower unit offers 4 bedrooms and 2 full bathrooms, while the upstairs units has 3 bedrooms and 2 full bathrooms making it ideal for student housing or multi-family living. The property features newer shingles, exterior paint, updated mechanicals, plumbing, electric circuit panels, and a newer boiler, ensuring low-maintenance ownership. Enjoy the charm of the large wraparound front porch and the convenience of a generous lot with ample parking spaces. The Certificate of Occupancy is current, and the units are already income-producing. For investors seeking to maximize returns, this property offers room to expand with the potential to add a studio to 2 bedroom that could rent for ~ $1,100/month+ on the third level. Ultimately this property is in a prime location. You will find that it is walking distance to Downtown Ypsilanti, Depot Town, and EMU Campus. A short drive to the University of Michigan, Downtown Ann Arbor, and St. Joseph's & U-M Hospitals as well as easy access to I-94 and US-23 and M-14 for effortless commuting. The cherry on the cake is that it is surrounded by local amenities, parks, shopping, and dining. This property is a rare find with immediate cash flow and long-term potential.
Highlights
Home typeMulti Family
HeatingHot Water, Natural Gas
StatusActive
Size2,506 sqft
BasementYes
Year built1884
ParkingOne Car Garage
MLS #20250007590
Garage1 space
Summary
- MLS Number: 20250007590
- MLS Name: Realcomp II Ltd
- Office Name: @properties Christies Intl RE Ann Arbor
- Office Phone: (734) 237-6901
- Listing Agent: Darryn Brundage-Forrest
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.
IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/13/2025, 3:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$400,000
501 Washtenaw Rd
$4,750
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Apr 19, 2023 | Home Sold | $350,000 |
| Sep 20, 2010 | Home Sold | $49,900 |
| May 03, 2002 | Home Sold | $252,500 |
| Apr 02, 1999 | Home Sold | $140,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $162,800 | $3,941 |
| 2023 | $145,700 | $4,066 |
| 2022 | $133,000 | $4,066 |
| 2021 | $128,100 | $4,083 |
| 2020 | $125,200 | $- |
| 2019 | $118,100 | $- |
| 2018 | $104,300 | $3,667 |
| 2017 | $100,100 | $3,592 |
History based on county public records data.
Nearby schools
3
Ypsilanti International Elementary School
Public Magnet PK-5
1.0 mi
•503 Oak St
1
Estabrook Elementary School
Public District 2-5
1.0 mi
•1555 W Cross St
1
Holmes Elementary School
Public District 2-5
1.8 mi
•1255 Holmes Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $27,632. Residents of Ypsilanti, MI typically earn less than $<35k each year. Most families are single, no kids. Typical level of education for residents in this area is post secondary degree.
How much money do the neighbors make?
62%
<35k
30%
35k-100k
8%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
89%
Single, No Kids
4%
Single, with Kids
5%
Married, No Kids
2%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
3%
<11 yrs old
1%
12-17 yrs old
72%
18-34 yrs old
20%
35-64 yrs old
4%
65+ yrs old
What do the neighbors do for fun?
NBA/WNBA
Soccer
Continuing Education Courses
Where do the neighbors shop?
Express/Express For Men
Forever 21
Burlington
Where do the neighbors go to eat?
Starbucks
Dominos Pizza
Qdoba
What do the neighbors drive?
Pontiac
Mazda
Volkswagen
What do the neighbors listen to?
Urban Contemporary
Rhythmic Contemporary Hits
Jazz
All data provided by Home Junction and Claritas
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This home is located at 501 Washtenaw Rd in Ypsilanti, MI and zip code 48197. This 2,506 square foot home was built in 1884. Features: 4 bathrooms. It has been listed on Rocket Homes since February 4, 2025 and is currently priced at $400,000.
While more than 12 listings in Ypsilanti, MI in January 2025 were sold above asking price, there were more than 9 listings sold at asking price, and more than 24 were sold below. The number of homes for sale in Ypsilanti, MI increased by 1.2% between December and January 2025. In January 2025 median list price was $280,918 and the average listing age was 40 days.
From Rocket Homes Real Estate and based on county public records data.