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Warren 48091 Southwest Warren
7544 PROSPECT ST
$37,000
● House - Off Market

7544 PROSPECT ST

Warren, MI 48091
bedrooms
2 Beds
bathrooms
1 Bath
square feet
825 Ft²
$51,705
RealtyHop Estimate
29.42%
Since Nov 1, 2020
MI-Detroit
Primary Model

About This Property

Tenant Occupied! Don't bother tenants. Must submit an offer before requesting for showing. Charming 2 bedroom 1 bathroom, 1.5 story home with a large backyard, first floor laundry, carpeted bedrooms. Close to parks and shopping and just a short drive to Lake St. Clair. As-IS no price negotiations! Cash or Conventional loan
Unit Size
825 Ft²
Days on Market
-
Land Size
0.10 acres
Price per sqft
$48
Property Type
House
Property Taxes
$99
HOA Dues
-
Year Built
1940

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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: 3 years ago (MichRIC MLS #21048225)

Price History

Date / Event Date Event Price
Oct 28, 2020 Sold
Premium
Sold
Jun 4, 2020 Listed by NCDG REALTY & PROPERTY MANAGE $39,950
Listed by NCDG REALTY & PROPERTY MANAGE
Jan 4, 2017 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 1940
  • Effective Year Built: 1940
  • Total Rooms: 4
  • Bedroom Count: 0
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 8
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 1
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 125
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,182
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 350
  • Total Building Area: 825
  • Gross Building Area: 825
  • Building Area: 825
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 825
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 3
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: LEO A . TEMROWSKIS SUBDIVISION
  • Land Acres: 0000000096
  • Standard Land Use Code: 1001
  • County Land Use Code: 401
  • Legal Description 1: LEO A. TEMROWSKI'S SUBDIVISION LOT 90 L7 P92

Neighborhood

  • School District Name: Van Dyke Public Schools
  • School Tax School District: VAN DYKE
  • Census Tract: 263800

Zoning

  • Zoning: R-1-C

Geography

  • District: 12
  • Parcel: 12-13-33-429-015
  • Lot: 90
  • Municipality: WARREN CITY
  • Latitude: 42.4531
  • Longitude: -83.028

    Address

  • Full Address: 7544 Prospect Ave
  • Address - House Number: 7544
  • Address - Street Name: Prospect
  • Address - Suffix Type: Ave
  • State: MI
  • City Name: Warren
  • Carrier Code: C004
  • 4-Digit Zip Code: 2951
  • Zip Code: 48091

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $172,082
  • Initial Tax Delinquent Year: 2016

    Appraisal Valuation

  • Standard Deviation: 0.205
  • Valuation Date: Dec 06, 2023
  • Confidence Score: 72
  • Final Value: 86,517
  • High Value: 104,259
  • Low Value: 68,775

    Market Valuation

  • Market Total Value: $48,580

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $24,290

    Sales

  • Current Sale Contract Date: Sep 25, 2020
  • Current Sale Recording Date: Oct 28, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2131055
  • Previous Sale Recording Date: Jan 04, 2017
  • Previous Sale Contract Date: Dec 16, 2016
  • Previous Sale Amount: $36,513
  • Previous Sale Document Type: 4
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 Warren

Stats & Trends

Median Asking:

$162,450

Sale Price/ft²

$143

Below Asking

0.04%

Average Days on Market

60

Average Home Size

1229 ft²

Average Home Age

71.1 years

Currently For Sale

27 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

Unit for rent at 17335 Teppert, Detroit, MI, 48234

$1,025 /mo

  • 2 Beds
  • 1 Bath
  • 728 ft²
17335 Teppert, Detroit, MI, 48234 Listing by Kate Kopliner

Rentals Near You

Click here to view more rentals in the neighborhood.
MichRIC

Listed by: Pouria Namazi, NCDG REALTY & PROPERTY MANAGE
Last Updated: 3 years ago
Data Source: MichRIC, MLS# 21048225
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 7544 Prospect built and last sold?
The property at 7544 Prospect was built in 1940 and last sold on Sep 25, 2020 for $37,000.
How much is this home worth?
The estimated value of the home located at 7544 Prospect is $0.
What are some comparable homes to 7544 Prospect?
There are currently no comparable homes to 7544 Prospect.
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