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Detroit Beach 48162
2868 5th Street
$229,900
● House - Off Market

2868 5th Street

Monroe, MI 48162
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,072 Ft²
$1,430
Est. Monthly
$10
HOA / Fees
16.18%
Cap Rate

About This Property

This colonial home features 4 spacious bedrooms and 2.5 baths, perfect for your family. With exclusive Lake Erie access and just a mile from Sterling State Park, it offers a haven for water enthusiasts. The open kitchen with an island enhances gatherings. First-floor laundry and a two-car garage add convenience and storage. Enjoy cozy evenings by the wood fireplace and summer days by the above-ground pool. The deck is great for entertaining. The large primary suite on the first floor includes a private bath for relaxation. A fenced yard with a shed offers extra storage and a safe play area for kids and pets. With a high-efficiency furnace, comfort is ensured year-round. Don't miss the chance to own a home with superb amenities and Lake Erie access! Schedule your tour today!
Unit Size
2,072 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$111
Property Type
House
Property Taxes
$291
HOA Dues
$10
Year Built
1992

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (MichRIC MLS #24039867)

Price History

Date / Event Date Event Price
Sep 23, 2024 Sold
Premium
Sold
Aug 30, 2024 In contract -
In contract
Aug 22, 2024 Price Decreased $229,900
↓ $15K (6.2%)
Price Decreased
Aug 1, 2024 Listed by Coldwell Banker Professionals $245,000
Listed by Coldwell Banker Professionals
May 31, 2022 Sold
Premium
Sold
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1992
  • Effective Year Built: 1992
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 3
  • Building Quality: 10
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 420
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,712
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 800
  • Total Building Area: 2,100
  • Building Area: 2,100
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 2,100
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DETROIT BEACH SUB
  • Land Acres: 0000000200
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: SEC 35 T6S R9E DETROIT BEACH SUBDIVISION NO 1 LOTS 1282 & 1283

Neighborhood

  • School District Name: Jefferson Schools
  • School Tax School District: JEFFERSON RESOR
  • Census Tract: 831300

Zoning

  • Zoning: R1R-RESIDE

Geography

  • District: 07
  • Parcel: 07-777-282-00
  • Lot: 1282
  • Meridian: SEC 35 TWN 06S RNG 09E
  • Municipality: FRENCHTOWN TWP
  • Latitude: 41.9304
  • Longitude: -83.3337

    Address

  • Full Address: 2868 5th St
  • Address - House Number: 2868
  • Address - Street Name: 5th
  • Address - Suffix Type: St
  • State: MI
  • City Name: Monroe
  • Carrier Code: C012
  • 4-Digit Zip Code: 4318
  • Zip Code: 48162

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $92,720
  • Tax Rate Code Area: 07

    Appraisal Valuation

  • Standard Deviation: 0.1086
  • Valuation Date: Dec 21, 2022
  • Confidence Score: 89
  • Final Value: 222,074
  • High Value: 246,202
  • Low Value: 197,946

    Market Valuation

  • Market Total Value: $193,400

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $96,700

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: May 31, 2022
  • Current Sale Recording Date: May 31, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 11547
  • Previous Sale Recording Date: Feb 26, 2019
  • Previous Sale Contract Date: Feb 25, 2019
  • Previous Sale Amount: $159,900
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Detroit Beach

Stats & Trends

Median Asking:

$235,000

Sale Price/ft²

$188

Above Asking

0.00%

Average Days on Market

26

Average Home Size

1562 ft²

Average Home Age

76 years

Currently For Sale

1 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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MichRIC

Listed by: Samuel Vail, Coldwell Banker Professionals
Last Updated: 2 years ago
Data Source: MichRIC, MLS# 24039867
Information is deemed reliable but not guaranteed. Copyright 2026 MichRIC, LLC. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 2868 5th Street built and last sold?
The property at 2868 5th Street was built in 1992 and last sold on May 31, 2022 for $239,900.
How much is this home worth?
The estimated value of the home located at 2868 5th Street is $234,267.
What are some comparable homes to 2868 5th Street?
There are currently no comparable homes to 2868 5th Street.
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