Listing Name: Asbury Park
Deep-Discount R1 Detroit Lot Near Dearborn for Just $2,995
Size: 0.10 acres
Discounted Cash Price: $2,995
Or you could get this property today for just $1000!
Ask us how!
Usage: single-family residential
Location: Detroit, MI
Highlights
- Cash and Financing Options
- No HOA and No Obligations
- An Excellent starter investment!
Details
Affordable Detroit land is getting harder to find, especially this close to Dearborn and the culture, sports, and waterfront attractions of the city. This 0.10-acre lot at 8450 Asbury Park sits in an established west-side neighborhood and carries R1 single-family residential zoning, making it a strong fit for a future infill home or a low-entry land hold.
The property is outside mapped flood zones and wetlands per the report, the terrain is flat to gently sloped, and road access is identified from Asbury Park. Even better, the Cash Discount Price is just $2,995, while nearby properties are selling for around $29,000.
From here you are close to Dearborn and within reach of major metro Detroit destinations like the Detroit Riverwalk, Belle Isle Park, The Henry Ford and Greenfield Village, the Arab American National Museum, and Detroit Tigers games at Comerica Park.
Stats
Address: 8450 Asbury Park, Detroit, MI 48228
APN: 22061076
Zoning: R1 single-family residential
Terrain: flat to gentle slope; report shows a fully buildable slope profile
Flood zone: none reported
Wetlands: none reported
Access: road access identified from Asbury Park
Utilities: no utilities are confirmed on the lot itself; seller reports neighboring properties have utilities nearby. Detroit Water and Sewerage Department serves city water and sewer, and DTE serves electric service in Southeast Michigan. Buyers should verify tap availability, connection distance, and cost.
Subdivision area: Bassett & Smiths Tireman Ave
HOA: none reported by seller
Nearby destinations: Dearborn, The Henry Ford, Greenfield Village, the Arab American National Museum, the Detroit Riverwalk, Belle Isle Park, and Comerica Park
Disclosures
Property information is believed to be reliable but is not guaranteed. Buyers must verify zoning, utilities, access, dimensions, building requirements, intended use, and all other material facts through their own independent due diligence.
All information is deemed reliable but is not guaranteed. Buyer must perform independent due diligence before purchase.
Buyer should verify property boundaries, zoning, permitted uses, building requirements, access, utilities, taxes, association rules, title, environmental conditions, and all permits with the appropriate county, township, association, utility, and professional sources.
Seller and marketer are not providing legal, financial, engineering, surveying, zoning, environmental, or tax advice.
Availability, pricing, and financing terms are subject to change until a written purchase agreement is fully executed. Financing is subject to seller approval.
Buyer is responsible for verifying all information with the County as to what can and can’t be done with the property. Buyer will need to work with the County to obtain the proper permits if needed. Buyer will also need to confirm the availability of any utilities.
Common Buying Options
Cash and Same as Cash
Get the best pricing with the Discounted Cash price. This always results in the least total amount paid!
On some properties, we are also able to offer the cash price with no interest if you are able to fully complete the purchase in 6 months or less. For this to work, we ask for 50% of the total cash price up front, and then you’ll have the following 5 months to pay the remaining 50% in whichever fashion works best for you (2 payments of 25% each, 5 payments of 10% each, 2 payments of 20% each and 1 of 10%, etc). The funds are held in escrow by a state licensed Title Agency until closing, so everyone is secure. Title will close the sale once the total purchase price has been paid.
Financing
Yes! WE DO offer seller financing!
Keep in mind that we are a small family business, we don’t pull a credit report and we don’t charge any origination or early payment fees… so we need to charge a somewhat higher interest rate and cannot offer the discounted cash price on seller financed sales. Our annual interest rate varies, but if you have other sources of financing we encourage you to investigate those options first because if you can bring outside financing, that will allow you to take advantage of the discounted cash price!
The down payment amount for most properties has been established at a level that allows for a traditional close – you will own the property at closing! The future monthly payments are secured by a Mortgage or Deed of Trust, depending on the state the property is in.
If the down payment required for a traditional close is a problem, on select properties we also offer a lease purchase option with a much lower up front cost. With this option, you don’t immediately own the property. However you will have the right to access and use it as vacant land, and you will be building credit monthly towards its eventual purchase.
The monthly payment amount and the number of payments are negotiable in either case! It will basically depend on how long will you need to complete the payoff.
Note that not all options are available on all properties.
Give us a call to find the terms that work best for you!
Option 1: Low Upfront Payment + Low Monthly, but longest terms (No rush! Get it done when you can, with a higher total amount paid)
Option 2: Low Upfront Payment + High Monthly, for mid duration terms (Get it done at a comfortable pace, with moderate total amount paid)
Option 3: High Upfront Payment + Mid Monthly, but shortest terms! (Get it done and over with quickly, with less total amount paid)