Detroit Homes under $500,000

Welcome to Detroit, Michigan – a city rich in history, culture, and opportunity! Nestled in Wayne County, Detroit is not just the birthplace of Motown music and the automotive industry; it's a vibrant metropolis that offers a unique blend of urban charm and suburban tranquility. With a resurgence in arts, dining, and entertainment, the Motor City is transforming into a thriving hub for families, professionals, and creatives alike.

For those seeking a new home, Detroit presents an exciting opportunity with a diverse selection of properties available for under $500,000. Whether you're looking for a cozy bungalow in a historic neighborhood, a stylish loft in a revitalized downtown area, or a spacious family home near one of the city's many parks, you'll find a range of options to suit your lifestyle and budget.

The real estate market in Detroit is on the rise, making it an ideal time to invest. With affordable housing prices, you can enjoy the benefits of homeownership without breaking the bank. Imagine sipping coffee on your front porch in a welcoming community, or exploring the eclectic shops and restaurants that line the streets of the city.

In addition to its affordability, Detroit boasts a strong sense of community and a rich cultural tapestry, from the stunning Detroit Institute of Arts to the lively Detroit Riverwalk. Join the many who are discovering the charm of this remarkable city. Your dream home awaits!

Newest Detroit Homes under $500,000

$109,000

6 Beds ⋅ 1 Baths ⋅ 26052728 MLS

3 bed, 1 bath, brick bungalow in Detroits Grand River-St Mary's neighborhood. Recently vacated, move in ready for those looking for a cozy home, or investors looking for a solid opportunity.

14891 Prevost Street, Detroit

Listing courtesy of Listing Agent: Lawrence Kennedy from Listing Office: Keller Williams Hometowne.

$59,500

3 Beds ⋅ 2 Baths ⋅ 20261080030 MLS

OPPORTUNITY KNOCKS! Welcome to 17312 Saint Marys Street, a 3-bedroom, 2-bath ranch-style home offering a great opportunity for buyers looking for space and potential. Features include hardwood flooring, ceiling fans, a kitchen with granite countertops, eat-in area and bar seating, plus a partially finished basement with an additional bathroom and standing shower. The property also includes a jetted tub, fenced yard, patio, and detached 2-car garage. Conveniently located in Detroit with plenty of possibilities. Bank-owned property being sold AS-IS. Buyer/Buyer’s Agent to verify all information and perform their own due diligence. Schedule your showing today!

17312 Saint Marys Street, Detroit

Listing courtesy of Listing Agent: Hussein Farhat from Listing Office: RE/MAX Team 2000.

$59,900

3 Beds ⋅ 1 Baths ⋅ 20261079987 MLS

RARE ROUGE PARK LOCATION! This Detroit home, with 3 bedrooms and 1 bathroom, offers a unique opportunity directly across from Rouge Park, providing beautiful green space and recreation right outside your door. The property features a traditional layout with spacious rooms, hardwood flooring, natural light, a functional kitchen, and a full basement offering additional storage and potential.The home sits on a spacious lot with a generous rear yard, providing plenty of room for outdoor activities, gardening, or entertaining. This property is a blank canvas ready for your vision and personal touches, offering an opportunity to create a home that truly reflects your style and needs.Enjoy the benefits of a park-front location while creating something special of your own. Bring your vision and make this property your own!

7541 Parkland, Detroit

Listing courtesy of Listing Agent: Darryl L Sanders from Listing Office: Treasure Homes, Inc.

$220,000

4 Beds ⋅ 1 Baths ⋅ 20261079182 MLS

Charming 4-Bedroom Bungalow full of opportunity near the Hamtramck border. Offering 4 bedrooms and 1 full bathroom, this property provides plenty of space for comfortable everyday living. The flexible floor plan gives you room to personalize the home to fit your lifestyle, while the partial basement adds useful storage space. Enjoy a convenient location near local markets, restaurants, schools, parks, and major roadways, with Downtown Detroit approximately 10 minutes away. Whether you're searching for a primary residence or an investment property, this home offers a great combination of space, location, and potential. Schedule your private showing today! Some photos have been virtually staged to illustrate the property's potential. Furniture and decor shown are digital renderings and are not included in the sale. All information is believed to be accurate but not guaranteed; buyer and buyer’s agent to verify all information.

5059 Harold Street, Detroit

Listing courtesy of Listing Agent: MD Junad Ahmed from Listing Office: Wasim International Realty.

$84,900

3 Beds ⋅ 2 Baths ⋅ 20261080001 MLS

HOME IS OCCUPIED, PLEASE DO NOT APPROACHThis home offers a wonderful opportunity for an investor right off of Warren and Southfield

6721 Penrod Street, Detroit

Listing courtesy of Listing Agent: Ali Abdallah from Listing Office: EXP Realty Main.

$125,000

3 Beds ⋅ 1 Baths ⋅ 20261079591 MLS

Investor opportunity available! Property is occupied; do not approach or disturb tenant. Property was previously updated and features 3 beds 1 bath. Rent being paid $1,400 / month. Showings available with an accepted offer. **Portfolio opportunity 15915 Lauder St, 20476 Birwood St** BATVAI

19501 Pierson Street, Detroit

Listing courtesy of Listing Agent: Francys Ramirez from Listing Office: Evernest, LLC.

$109,000

3 Beds ⋅ 1 Baths ⋅ 26052697 MLS

Own for less than rent! Located in the O'Hair Park neighborhood, with an active and committed neighborhood association. Move right into this well-maintained home that is priced below market rate to invite an owner occupant to purchase and move in before the holidays. Includes updated windows and insulation. Large kitchen with space for a breakfast nook. Updated bathroom. Large second floor bedroom, and two main floor rooms perfect for a bedroom and an office. Easy access to major freeways and suburban shopping centers! Quick commute to downtown, area employers, and Wayne State University!

20034 Rosemont Avenue, Detroit

Listing courtesy of Listing Agent: David Palmer from Listing Office: Realty Experts LLC.

$130,000

3 Beds ⋅ 2 Baths ⋅ 20261079282 MLS

Welcome to this charming cottage-style home in Detroit’s 48227 area, where original character and timeless details create a warm and inviting atmosphere. Featuring beautiful original hardwood floors and a cozy chimenea, this property offers plenty of charm and personality.Come take a look and experience the character for yourself you may just fall in love with all this charming home has to offer. Schedule your showing today

13644 Castleton Street, Detroit

Listing courtesy of Listing Agent: Laura Bedoya from Listing Office: EXP Realty Main.

$284,900

1 Beds ⋅ 2 Baths ⋅ 20261079969 MLS

Live at The Ellington in Midtown! #508 is one of the best floor plans in the building being a top floor corner unit with continuous windows throughout - Unit is 1 bed / 1.5 bath with polished concrete floors, and tons of custom updates throughout like Berloni cabinetry & Brizo fixtures! Unit features an open floor plan with floor to ceiling windows, 2 private balconies, & an additional office space. Close to everything Midtown has to offer in a supremely walkable area steps form the Q-Line, and close to Wayne State campus, DMC, the VA, Whole Foods, AC Hotel, Grey Ghost, Rocco's Deli, Eastern Market, and more. Less than half a mile from the Little Caesars Arena! The unit also comes with assigned parking in a garage connected to the building, washer & dryer in unit, private storage, and a fitness center. Virtual/video showings upon request.

3670 Woodward Avenue, Detroit

Listing courtesy of Listing Agent: Cooper Przekop from Listing Office: Douglas Rose Realty.

$80,000

3 Beds ⋅ 1 Baths ⋅ 20261079813 MLS

Charming 3-bedroom, 1-bath bungalow featuring a welcoming covered front porch and a comfortable, functional layout. The bright living room offers plenty of natural light with lots of windows and flows into the dining area with a beautiful bay window, opening to the kitchen. Three generous bedrooms feature beautiful flooring and share a full bath with a convenient tub/shower combination. Finished upstairs bonus room that could be a bedroom, office or game room, the skies the limit. The large finished basement provides additional living and entertaining space with a spacious family room and bar. A separate toilet area offers potential to be converted into an additional bathroom. Outside, enjoy the fenced backyard, along with a 1-car detached garage featuring a covered side area for additional outdoor space or storage. Some photos have been AI edited to remove personal belongings. Don't miss this great opportunity. Schedule your private showing today.

7733 Penrod Street, Detroit

Listing courtesy of Listing Agent: Paige Cook from Listing Office: EXP Realty - Mark White & Associates.

$114,900

2 Beds ⋅ 1 Baths ⋅ 26052682 MLS

Habitat for Humanity Detroit Affordable Homeownership Opportunity Interested in buying this home? Buyers must qualify for Habitat for Humanity Detroit's Homeownership Program. Basic eligibility: Household income must be at or below 80% of Area Median Income (AMI) (See chart below) Submit a mortgage pre-approval for at least $100,000 to begin the application process Meet all Habitat for Humanity Detroit program requirements Wonderful opportunity to own a Habitat for Humanity energy efficient remodeled home in Morningside area. Expected completion by end of 2026.Property is being renovated from the studs in. Owner occupants only please and income restrictions apply.

4457 Maryland Street, Detroit

Listing courtesy of Listing Agent: Deborah Bertram from Listing Office: Home & Land Real Estate East.

$59,900

3 Beds ⋅ 1 Baths ⋅ 20261079963 MLS

Morningside Area colonial great for first time home buyers or investors. Needs some work. Subject to probate court sale approval. Nice size rooms and great area close to shopping,schools,bus lines and more. B.A.T.V.A.I

Detroit

Listing courtesy of Listing Agent: Hassan Zein from Listing Office: Empire Realty Group.

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