118 W Summit St, Ann Arbor, MI, 48103
About This Home
Incredible opportunity to own a home within Ann Arbor’s C1 zoning district—one of the few areas that allows for non-owner occupied short-term (Airbnb, VRBO, etc.) rentals—at 118 W Summit St, Ann Arbor, MI 48103. Perfect for investors seeking a high-demand rental property or for use as your personal residence, this property is a blank slate with demolition and renovations already underway. Currently configured as a 2-bedroom, 1-bath home, it offers potential to add another bath and reimagine the living space to fit your needs. Located in the desirable Water Hill neighborhood near Kerrytown, the home boasts unbeatable walkability to Michigan Medicine, U-M Central Campus, Downtown, Kerrytown, the Farmers Market, scenic parks like Bandemer and Bird Hills, plus direct access to the new Barton-Bandemer pedestrian tunnel and expanded protected bike lanes, connecting you seamlessly to the entire city. Bring your vision and transform this property just minutes from Ann Arbor’s best destinations.
Getting Around
Very Walkable
Good Transit
Very BikeableSchools
Construction
Condition
- Year built: 1901
Materials
- Foundation: Basement
- Construction materials: Aluminum Siding
Type & Style
- Home type: SingleFamily
- Architectural style: Bungalow
- Property subType: Single Family Residence
Interior
Basement
- Has basement: Yes
Bathroom1
- Features: Other
- Level: Upper
- Area: 35
Bedroom1
- Features: Other
- Level: Upper
- Area: 300
Bedroom2
- Features: Other
- Level: Main
- Area: 80
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
- Main level bedrooms: 1
Family Room
- Features: Other
- Level: Main
- Area: 165
Features
- Flooring: Other
- Finished area below ground: 0
- Finished area above ground: 1,056
Heating
- Heating features: Forced Air,Natural Gas
Interior Area
- Total structure area: 1,376
- Total interior livable area: 1,056 sqft
Kitchen
- Features: Other
- Level: Main
- Area: 96
Living Room
- Features: Other
- Level: Main
- Area: 132
Property
Details
- Parcel number: 090920410003
- Special condition: Private
Features
- Levels: Two
- Stories: 2
- Frontage type: Road
- Frontage length: 45
Lot
- Lot size: 3,920 sqft
- Lot size dimensions: 45 x 90 x 45 x 90
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
- Cold Wave
- Strong Wind
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters in Washtenaw 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 | $1,782 | $21,384 |
| Home Insurance * | $95 | $1,140 |
| Property Taxes | $437 | $5,244 |
| Electricity | $188 | $2,259 |
| Total | $2,502 | $30,024 |
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)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-01 | Price change | $352,500 |
| 2025-12-12 | Price change | $365,000 |
| 2025-09-04 | Price change | $375,000 |
| 2025-08-15 | Listed for sale | $400,000 |
| 2024-08-21 | Sold | $396,500 |
| 2024-08-14 | Pending sale | $399,000 |
| 2024-07-18 | Listed for sale | $399,000 |
For Sale by Agent
View on Zillow