Detroit Homes under $500,000

Detroit Homes under $500,000

Welcome to Detroit, Michigan—an iconic city known for its rich history, vibrant culture, and resilient spirit. Nestled in Wayne County, Detroit is a city that’s not just about its past, but also about its dynamic present and promising future. Once the heart of the American automobile industry, Detroit has transformed into a hub for innovation, arts, and community spirit.

As you explore the real estate market in Detroit, you’ll discover an array of charming homes available for under $500,000. This makes the city an attractive option for first-time homebuyers, families looking to settle down, or investors seeking opportunities in a growing market. From historic neighborhoods filled with stunning architecture to modern developments that cater to contemporary lifestyles, there’s something for everyone in Detroit.

Imagine living in a beautifully restored Victorian home in the historic Corktown district or a sleek loft in the bustling downtown area, all while enjoying the affordability that Detroit offers. With a variety of parks, cultural institutions, and a thriving culinary scene, residents can enjoy a high quality of life without breaking the bank.

Detroit is not just a place to live; it’s a community that welcomes you with open arms. With its ongoing revitalization efforts and a strong sense of local pride, now is the perfect time to invest in a piece of this remarkable city. Whether you’re looking for a cozy bungalow or a spacious family home, Detroit’s real estate market has something to fit your dreams and budget. Come and discover your future home in the Motor City!

Newest Detroit Homes under $500,000

5059 Harold St, Detroit
$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 St, Detroit

Courtesy of Wasim International Realty 2482388808
6721 Penrod St, Detroit
$84,900
3 Beds ⋅ 2 Baths ⋅ 20261080001 MLS
HOME IS OCCUPIED, PLEASE DO NOT APPROACH This home offers a wonderful opportunity for an investor right off of Warren and Southfield

6721 Penrod St, Detroit

Courtesy of EXP Realty Main 8885017085
20034 Rosemont Ave, Detroit
$109,000
3 Beds ⋅ 1 Baths ⋅ 81026052697 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 Ave, Detroit

Courtesy of Realty Experts LLC 7344843300
19501 Pierson St, Detroit
$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 St, Detroit

Courtesy of Evernest, LLC 2489700629
13644 Castleton St, Detroit
$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 St, Detroit

Courtesy of EXP Realty Main 8885017085
4457 Maryland St, Detroit
$114,900
2 Beds ⋅ 1 Baths ⋅ 81026052682 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 St, Detroit

Courtesy of Home & Land Real Estate East 2486516622
3670 Woodward Ave Unit 508, Detroit
$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 Ave Unit 508, Detroit

Courtesy of Douglas Rose Realty 8106230228
7733 Penrod St, Detroit
$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 St, Detroit

Courtesy of EXP Realty - Mark White & Associates 2696004397
3696 Haverhill St, Detroit
$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

3696 Haverhill St, Detroit

Courtesy of Empire Realty Group 3138460960
7686 Warwick St, Detroit
$129,900
2 Beds ⋅ 2 Baths ⋅ 20261079957 MLS
Welcome to 7686 Warwick, a beautifully updated vinyl ranch that combines comfortable main-floor living with the extra space buyers are looking for. The approximately 900-square-foot main level features a formal living room, a new kitchen, two bedrooms, and a full bathroom—an inviting, practical layout for everyday living. The fully finished basement adds valuable flexibility, with a second full kitchen and another full bathroom. It’s a great setup for hosting guests, creating a separate hangout or hobby space, or making room for changing household needs. Whether you’re a first-time buyer, looking to downsize without giving up useful extra space, or hoping for room to entertain, this home offers options to make it your own. Outside, the huge yard provides plenty of room to relax, garden, play, or gather with friends. The detached 2.5-car garage offers generous space for vehicles, storage, or projects. Set in a sought-after area where homes are in demand, this updated property is ready to welcome its next owner. Come see how well it could fit your needs! BATVAI

7686 Warwick St, Detroit

Courtesy of Keller Williams Legacy 3137520000
3837 Harold St, Detroit
$224,900
3 Beds ⋅ 2 Baths ⋅ 20261079922 MLS
Location, Location, Location! Move right into this updated 3-bedroom, 2-bath home featuring brand-new flooring, updated windows, renovated bathrooms, a new stove and refrigerator, and a new garage door with remote opener. The main level offers 2 bedrooms, while the upper level has a private entrance with 1 bedroom, a full kitchen, and full bath, making it ideal for rental income or multigenerational living. Complete with a full basement, detached 2-car garage, and a private backyard, this home is less than a 1-minute walk to Hamtramck Academy and conveniently located near shopping, restaurants, Downtown Detroit, and major freeways. Don't miss this fantastic opportunity! Contact me today to schedule your private showing. Keys will be provided at closing.

3837 Harold St, Detroit

Courtesy of IKONIK REALTY 3132401331
7451 Grandville Ave, Detroit
$75,000
2 Beds ⋅ 1 Baths ⋅ 20261079022 MLS
Investment opportunity in Detroit! Offered at $75,000, this city-certified 2-bedroom, 1-bath rental is currently occupied by long-term tenants paying $775 per month, providing immediate rental income for the next owner. The home features a spacious basement with plenty of additional storage and a large attic offering potential for future expansion or possible conversion into a third bedroom, subject to applicable city and building requirements. With established tenants, city certification, and additional value-add potential, this property offers a great opportunity to add an income-producing home to your rental portfolio. Please respect the tenants' privacy and do not disturb occupants. BATYI sold as is.

7451 Grandville Ave, Detroit

Courtesy of KW Domain 2485900800
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