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7320 E LAFAYETTE ST, Detroit, MI 48214

Local realty services provided by:CENTURY 21 Dynamic Realty
7320 E LAFAYETTE ST,Detroit, MI 48214
$115,000
  • 0.3 Acres
  • Lots / Land
  • Active
Listed by: bill swanson
Office: o'connor realty detroit, llc.
MLS#:20240050145
Source:MI_REALCOMP

Price summary

  • Price:$115,000

About this home

Nice sized buildable land in Islandview in the vibrant and growing Villages neighborhood. Low Income Housing Income Tax Potential – According to the U.S. Housing and Urban Development website, this property is located in a Qualified Tract Zone, which allows for an additional 30% of low income housing credits, in addition to the 9% credit on qualified development costs. Buyer to Verify Zoning - The property is zoned R5, which allows for apartments/affordable housing to be constructed. Also, R5 zoning may allow for certain specified non-residential uses, as long as those uses can be blended into the district. So, for example, the first floor of a building could be rented out to businesses such as convenience stores, gyms, hair/nail salon, and other businesses which directly support residents.

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Home facts

  • Listing ID #:20240050145
  • Added:513 day(s) ago
  • Updated:December 18, 2025 at 10:55 AM

Structure and exterior

  • Lot area:0.3 Acres

Utilities

  • Water:Water at Street
  • Sewer:Sewer at Street

Finances and disclosures

  • Price:$115,000
  • Tax amount:$103
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