485 E Grand Blvd, Detroit, MI, 48207
About This Home
Incredible investment opportunity in the heart of Island View! This massive multi-unit residence has served as a licensed adult foster care facility for over 50 years and was previously approved for up to 20 residents. The property is currently tenant-occupied with ten long-term residents—many with over a decade of tenancy—who would love to stay. With nine spacious bedrooms, four full bathrooms, and two half baths, the floor plan offers flexibility and scale. Just minutes from Belle Isle, downtown Detroit, and the bustling West Village, this property is perfect for investors seeking cash flow and long-term upside in a rapidly developing neighborhood.
Getting Around
Car-Dependent
Some Transit
Very BikeableSchools
Construction
Condition
- Year built: 1912
Materials
- Foundation: Basement,Block
- Roof: Asphalt
- Construction materials: Brick
Type & Style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subType: Multi Family
Interior
Basement
- Has basement: Yes
- Basement: Full,Unfinished
Bedrooms & Bathrooms
- Bathrooms: 6
- Full bathrooms: 4
- 1/2 bathrooms: 2
Features
- Finished area above ground: 2,884
Heating
- Heating features: Hot Water,Natural Gas
Interior Area
- Total interior livable area: 2,884 sqft
Property
Details
- Parcel number: W15I008064S
- Zoning description: Commercial
- Special condition: Short Sale No,Standard
- Exclusions: Exclusion(s) Do Not Exist
Features
- Levels: Three
- Stories: 3
- Pool features: None
- Patio & porch: Covered,Porch
- Fencing: Fenced
Lot
- Lot size: 0.27 Acres
- Lot size dimensions: 80.00 x 146.00
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Wayne County and Michigan
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,845 | $22,140 |
| Home Insurance * | $598 | $7,176 |
| Property Taxes | $447 | $5,364 |
| Electricity | $314 | $3,774 |
| Total | $3,204 | $38,448 |
Income You'd Need if You Spent...
Michigan FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-09 | Listed for sale | $365,000 |
| 2026-01-10 | Listing removed | $365,000 |
| 2025-10-10 | Price change | $365,000 |
| 2025-09-10 | Pending sale | $400,000 |
| 2025-07-02 | Listed for sale | $400,000 |
| 2023-06-13 | Listing removed | -- |
| 2023-03-02 | Listed for sale | $450,000 |
For Sale by Agent
View on Zillow