16502 Lilac St, Detroit, MI, 48221
About This Home
The property currently generates $1,275/month in rental income, offering an investor the opportunity to purchase a tenant-occupied property with an established rental arrangement. Optionable lot Available - The adjacent lot at 16508 Lilac ST is also available for purchase for $6,500-The buyer has the option to purchase the lot separately or in addition tp 16502 Lilac St, providing an opportunity to acquire additional land next to the investment property.
Getting Around
Somewhat Walkable
Good Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1928
Materials
- Roof: Shingle
- Construction materials: Brick,Vinyl Siding
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Laundry features: In Basement
Basement
- Basement: Full
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
Features
- Flooring: Wood
- Finished area below ground: 572
Heating & Cooling
- Heating features: Forced Air,Hot Water
- Cooling features: Window Unit(s)
Interior Area
- Total structure area: 1,144
- Total interior livable area: 3,049 sqft
Living Room
- Level: Lower
- Area: 3000
- Dimensions: 100.00 x 30.00
Property
Details
- Parcel number: 16026188.
Features
- Stories: 2
Lot
- Lot size: 3,049 sqft
- Lot size dimensions: 311
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
- Heat Wave
- Strong Wind
- Tornado
- 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 | $702 | $8,424 |
| Home Insurance * | $198 | $2,376 |
| Property Taxes | $170 | $2,040 |
| Electricity | $332 | $3,990 |
| Total | $1,402 | $16,824 |
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 |
|---|---|---|
| 2026-08-06 | Listed for sale | $139,000 |
| 2025-03-28 | Listing removed | $1,650 |
| 2024-12-19 | Listed for rent | $1,650 |
| 2023-09-25 | Listing removed | -- |
| 2023-09-13 | Price change | $1,225 |
| 2023-09-11 | Listed for rent | $1,475 |
| 2021-10-06 | Listing removed | -- |
| 2021-09-18 | Listed for sale | $68,000 |
| 2021-07-14 | Listing removed | -- |
| 2021-06-23 | Listed for rent | $1,050 |
| 2020-10-02 | Listing removed | $25,000 |
| 2020-09-11 | Pending sale | $25,000 |
| 2020-09-09 | Listed for sale | $25,000 |
| 2020-05-14 | Listing removed | $30,000 |
| 2020-05-08 | Price change | $30,000 |
| 2020-05-07 | Price change | $39,400 |
| 2020-03-19 | Listed for sale | $39,500 |
| 2018-10-21 | Listing removed | $750 |
| 2018-10-20 | Listed for rent | $750 |
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