1216 Waterman Street Detroit, MI ^$ 246,900

1216 Waterman Street

^$ 246,900

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1216 Waterman Street

Detroit, MI, 48209

^$ 246,900

Studio Baths2.1 Sq 2,500

Monthly Estimate*

^$ 1,540

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Studio

Multi-Family Home for sale in Detroit, MI

for $246,900 with 2 full baths, 1 half bath. This 2,500 square foot home was built in 1926 on a lot size of 0.11.

Welcome to this beautifully remodeled three-family home in the heart of Mexican Village. Each unit offers 3 bedrooms and has been thoughtfully updated with luxury flooring, recessed lighting, and modern finishes throughout. This property is legally rental certified, making it an ideal investment for generating immediate income or a perfect opportunity for an owner-occupant to live in one unit and rent out the other. Located just minutes from the up-and-coming Gordie Howe International Bridge, set to open in late 2025/2026, this home sits in a neighborhood positioned for strong growth and rising values. With its prime location, modern updates, and income potential, this duplex is truly a rare find in Southwest Detroit.

Multi-Family Active

Price

^$ 246,900

Bedrooms

Studio

Full Bath

Half Bath

Property Type

Multi-Family

Taxes

^$ 2,477

Style

Lot Size

0.11

Year Built

1926

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

60936243

Features

General

Possession At Close

Water Public Water

Status Active Active

Full Baths 2

Half Baths 1

Bathrooms 3

Year Built 1926

Subdivision Kaiers Sub Of Lts 16 Thru 29 MI

County Wayne

Class MULTIFAMILY

Type Multi-Family

Net Income 3000000

Ownership Private

Municipality Detroit

Zoning Residential

Sale/Rent For Sale

Status Detail 0

Structure Style 2 Story

Area Detroit (82001)

Primary City Detroit

Directions Take I-94 East toward Downtown Detroit Merge onto I-96 East Exit W Grand Blvd. turn right on W Grand Blvd. Turn left onto W Vernor Hwy Turn right on Waterman 1215 Waterman on left side of street

City Detroit

School District Detroit City School District

Financial Terms Cash FHA VA

Legal Description PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2026. E WATERMAN 6 KAIERS SUB L28 P78 PLATS W C R 18/265 30 X 157.50

DOM 82

Postal Code 48209

Price Per Sq Ft Total AG 98.76

Public Remarks Welcome to this beautifully remodeled three-family home in the heart of Mexican Village. Each unit offers 3 bedrooms and has been thoughtfully updated with luxury flooring recessed lighting

Interior

Basement Poured MI Basement

Fireplace? No

Total Number of Units 2

Fuel Type Natural Gas

Exterior

Exterior Brick

Lot Size Area 0.11

Lot Dimensions 30X157.5

Roads Paved Street

Waterfront Y/N No

* Excluded Features

List By

Alesha Thomas

Listing Agent

Berkshire Hathaway Homeservices Kee Realty

Broker

Aleshathm@gmail.com

Affordability Calculator

$1,747

Per Month

Monthly Principal & Interest: $1,540
Monthly Property Taxes: $206
Monthly Home Insurance: --

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Loan Term

Interest Rate

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% 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

Trends
Schools

Multi-family listings in Detroit, MI

Average List Price ^$237,305

Percent of Sale Price 4%

About Detroit, MI

633,657 Population

-33% Since 2002

^$26,977 Median Income

36.23 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

759604 Elementary School

760475 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
9/12/2025	$246,900		Listed Price

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1216 Waterman Street, Detroit, MI, 48209 is a Multi-Family Home for sale at $246,900 with 2,500 sqft and a lot size of 0.11. 1216 Waterman Street is a studio with 2.1 baths and was built in 1926. The property's zip code is 48209 which is in Detroit, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% 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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1216 Waterman Street

Multi-Family Home for sale in Detroit, MI

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