home in 18885 Lancashire St Detroit, MI
This 1,307-square-foot home in Detroit, MI includes 3 bedrooms and 1 bathroom.
| Price | $225,000 |
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| Beds | 3 |
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| Baths | 1 |
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| Sqft | 1307 |
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| Address | 18885 Lancashire St Detroit, MI 48223 |
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Why buy this home
- Links directly to the original source listing on Movoto.
Is this a good buy?
Priced above comparable homes.
Enzo's reads public listing data and links to the original source. Confirm condition, HOA, taxes and fees there. This is a signal, not advice.
What it costs to own
Estimated at $1,593/month with 20% down at a 7.28% 30-year fixed rate. You would need about $68,291 in gross annual income to keep housing within a 28% ratio.
| Mortgage (P&I) | $1,232/mo |
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| Property tax (new-buyer reassessed rate) | $278/mo |
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| Homeowners insurance | $84/mo |
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| Total monthly | $1,593/mo |
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| Down payment (20%) | $45,000 |
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| Income needed | $68,291/yr |
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A signal to compare homes, not financial advice or a loan offer.
Financial outlook (modeled)
Enzo's grades this home A (90 out of 100) over a 5-year hold, from a Monte-Carlo of local home-price dynamics and the interest-rate path versus renting.
| Grade | A (90/100) |
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| Beats renting in | 73% of modeled paths |
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| Modeled 5-yr equity (median) | $167,165 |
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| Range (10th to 90th pct) | $114,970 to $227,570 |
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A probabilistic model built on public data (Zillow ZHVI, FRED rates), not a guarantee or financial advice. Local price dynamics are pooled toward Detroit, MI where local data is thin.
Local home values
Typical home values in Detroit, MI have risen about 22% over the past 5 years (+2% in the last year), per the Zillow Home Value Index. This reflects the metro market, not this specific home.
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View this home on Movoto