Welcome to this prime two-family investment property offering exceptional income potential in a desirable neighborhood. Each spacious unit features two bedrooms, full bath, living room with fireplace, formal dining room, kitchen and Florida room off the rear. Second floor unit has small den off the living room. The open basement offers laundry facilities and additional storage. 1st floor has been leased for $1,850.00. 2nd floor is currently leased at $1,800/month. Situated on a 59 x 155 lot, this property provides off-street parking, a large backyard, and a three car garage, enhancing tenant appeal. Both units are metered separately for gas/electric utilities, tenants pay utilities and landlord pays the water. Perfectly positioned just minutes from the Village for shopping and dining, and the residents-only lakefront park with swimming pool, marina, kayak launch, playground, splash pad and picnic area, this property offers excellent access to city amenities and employment hubs with just a short distance to Downtown Detroit. Whether you’re looking to expand your rental portfolio or seeking a live-in investment, this property delivers reliable returns and future value appreciation. Don’t miss your chance to acquire a versatile, high-demand asset—schedule a private tour today! Seller to provide C of O.
For sale
$465,000
497 Neff Rd, Grosse Pointe, MI 48230
4beds
2,467sqft
Est.:
Multi Family
Built in 1942
-- sqft lot
$463,800 Zestimate®
$188/sqft
$-- HOA
What's special
Large backyardOpen basementOff-street parkingThree car garageSpacious unitFormal dining room
- 159 days |
- 1,826 |
- 84 |
Zillow last checked: 8 hours ago
Listing updated: January 05, 2026 at 06:56am
Listed by:
Beline Obeid 313-343-0100,
Beline Obeid Realty 313-343-0100
Source: MiRealSource,MLS#: 50183735
Originating MLS: MiRealSource
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Bedroom 1
- Features: No
Bathroom
- Features: First Flr Bath Lav/Half, Second Flr Bath Lav/Half
Dining room
- Features: Formal Dining Room
Heating
- Forced Air
Cooling
- Central Air
Appliances
- Included: Dishwasher, Dryer, Range/Oven, Refrigerator, Washer
Features
- Has basement: Yes
- Number of fireplaces: 2
- Fireplace features: Living Room
Interior area
- Total structure area: 2,467
- Total interior livable area: 2,467 sqft
Video & virtual tour
Property
Parking
- Total spaces: 3
- Parking features: Garage, Detached
- Garage spaces: 3
Features
- Levels: Two
- Stories: 2
- Pool features: Community
- Spa features: Community
- Frontage length: 59
Lot
- Size: 9,147.6 Square Feet
- Dimensions: 59 x 155
Details
- Parcel number: 37 002 03 0015 001
- Special conditions: Private
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subtype: Multi Family
Materials
- Brick
- Foundation: Basement
Condition
- Year built: 1942
Utilities & green energy
- Gas: Natural Gas
- Sewer: Public Sanitary
- Water: Public
Community & HOA
Community
- Features: Park, Playground, Tennis Court(s)
- Subdivision: The C Neff Estate Sub
Location
- Region: Grosse Pointe
Financial & listing details
- Price per square foot: $188/sqft
- Tax assessed value: $213,200
- Annual tax amount: $8,135
- Date on market: 8/1/2025
- Cumulative days on market: 147 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
- Total actual rent: 3650
Estimated market value
$463,800
$441,000 - $487,000
$3,180/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 10/21/2025 | Listed for sale | $465,000$188/sqft |
Source: | ||
| 10/9/2025 | Pending sale | $465,000$188/sqft |
Source: | ||
| 8/1/2025 | Listed for sale | $465,000+55%$188/sqft |
Source: | ||
| 11/18/2005 | Sold | $300,000+27.7%$122/sqft |
Source: | ||
| 4/28/1999 | Sold | $235,000$95/sqft |
Source: | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $213,200 +3% |
| 2024 | -- | $207,000 +9.4% |
| 2023 | -- | $189,200 +7% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$3,132/mo
Principal & interest
$2260
Property taxes
$709
Home insurance
$163
Climate risks
Neighborhood: 48230
Nearby schools
GreatSchools rating
- 10/10Lewis Maire Elementary SchoolGrades: K-4Distance: 0.4 mi
- 8/10Pierce Middle SchoolGrades: 5-8Distance: 1.3 mi
- 10/10Grosse Pointe South High SchoolGrades: 9-12Distance: 0.5 mi
Schools provided by the listing agent
- District: Grosse Pointe Public Schools
Source: MiRealSource. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
- Loading
- Loading








