1529 Silman Street, Ferndale City, MI 48220
FORD HEIGHTS- FERNDALE · Oakland County
Key Facts
Description
Fantastic investment opportunity in the heart of Ferndale! This well-maintained multi-family property features two separate units, making it ideal for investors or owner-occupants looking to generate rental income. The main-floor unit offers 3 spacious bedrooms, 1 full bathroom, beautiful hardwood flooring throughout most of the living areas, and a full basement providing ample storage and endless possibilities for additional use. This unit is currently leased through a one-year term at $1,725 per month, providing immediate rental income. The upper-level unit features its own private entrance, 2 bedrooms, 1 full bathroom, and a functional layout that offers comfort and privacy for tenants. Additional highlights include a brand-new central air conditioning system installed in 2025, laminate flooring in the kitchen and bedroom areas, a large covered front porch perfect for relaxing, and a generously sized backyard ideal for entertaining or outdoor enjoyment. Conveniently located near downtown Ferndale's shopping, dining, parks, and major freeways, this is an excellent opportunity to add a solid income-producing property to your portfolio. Schedule your private tour! Lower unit is currently leased for $1725 and is for a 1 year term May 2026 through April 2027 Upper unit is leased for $1180 and will go in effect July 2026 thorough June 2027
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Style
Other
Year Built
1923
Living Area
1,538 sq ft
Lot Size
0.11 acres
Lot Dimensions
45X107.5
Days on Market
28
MLS® Listing#
20261042215
Property Features
Cooling
Heating
Basement
Pool
Construction
Foundation
Sewer
Water Source
Financial Details
Annual Taxes
$8,640
Assessed Value
$114,480
Parcel Number
2535405036
Directions
T1N, R11E, SEC 35 FORD HEIGHTS SUB LOT 401, ALSO E 1/2 OF LOT 402, ALSO 1/2 OF VAC ALLEY ADJ TO SAME 12- 10-14 CORR
Affordability Calculator
$62,980
Estimated monthly payment
$1,676/mo
Principal $251,920 · Est. interest $351,451 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Ferndale City, MI
- $237,745
- Median Listing Price
- 56
- Median Days on Market
- 1,500
- Median Sq Ft
- $138
- Median Price / Sq Ft
- 13,844
- Active Listings
- This home’s price is 32% above the area median.
- Its price per sq ft is 48% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Ferndale City, MI.
Location
- 1529 Silman Street, Ferndale City, MI 48220
Points of Interest in Ferndale City, MI
Showing the Ferndale City area map.
Nearby Schools
Webster Elementary School
Elementary · 0.3 mi away
Detroit Carpentry Apprentice
Secondary · 0.5 mi away
Hazel Park Adult Education School
School · 0.7 mi away
Hazel Park Junior High School
Secondary · 0.8 mi away
University High School
School · 0.8 mi away
United Oaks Elementary School
Elementary · 0.9 mi away
Ferndale Montessori Center
Elementary · 1.1 mi away
Webb Elementary School
Elementary · 1.1 mi away
Jardon Vocational School
Elementary · 1.1 mi away
Roosevelt School
Secondary · 1.2 mi away
Hazel Park Advantage Alternative School
School · 1.3 mi away
Taft Education Center
School · 1.3 mi away
Greenfield Union Elementary School
Elementary · 1.4 mi away
Hazel Park High School
Secondary · 1.4 mi away
Harding Elementary School
Elementary · 1.5 mi away
Ferndale Public Schools
School · 1.5 mi away
Hoover Elementary School
Elementary · 1.5 mi away
Edison Max Elementary School
Elementary · 1.5 mi away
Calvin Coolidge Intermediate School
School · 1.5 mi away
Nolan Elementary Middle School
Elementary · 1.5 mi away
Commute Calculator
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| 2630 Harding Street, Detroit City, MI | $224,900 | 4 | 2 | 1,643 |
Moving Cost Estimate
EXIT Agents in Ferndale City
Listing Courtesy: Anthony Djon Luxury Real Estate - 2487474834
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