Detroit Homes under $500,000

Welcome to Detroit, a city rich in history, culture, and opportunity! Nestled in Wayne County, Michigan, Detroit is not just the birthplace of Motown music but also a vibrant hub of art, innovation, and community spirit. Known for its iconic skyline and revitalized neighborhoods, this city is experiencing a renaissance that invites new residents to discover its charm.

For those seeking an affordable entry into the Detroit housing market, you're in luck! Homes under $500,000 are plentiful and diverse, offering something for everyone. From charming bungalows in historic districts to modern townhomes in up-and-coming areas, you’ll find properties that cater to various tastes and lifestyles. Whether you’re a first-time homebuyer, a growing family, or looking to downsize, Detroit’s real estate market is brimming with options that won’t break the bank.

Imagine living just minutes away from the Detroit Riverwalk, where you can enjoy picturesque views and recreational activities, or exploring the vibrant arts scene in Midtown. The city’s neighborhoods are filled with parks, cafes, and local shops, creating a sense of community that makes Detroit feel like home.

Investing in a home in Detroit means becoming part of a city that’s on the rise, with ongoing developments and a strong sense of resilience. Take the leap into homeownership in this dynamic city, where your dream home awaits at a price that suits your budget. Explore the possibilities today and discover why Detroit is a place where you can truly thrive!

Newest Detroit Homes under $500,000

$90,000

3 Beds ⋅ 1 Baths ⋅ 20261082314 MLS

OPPORTUNITY AWAITS AT THIS 3BDM/1 BATH DETROIT PROPERTY, OFFERING PLENTY OF POTENTIAL FOR A HOMEOWNER LOOKING TO BUILD SWEAT EQUITY OR INVESTOR LOOKING TO ADD VALUE TO THEIR PORTFOLIO OF PROPERTIES. SITUATED ON A CORNER LOT, IN AN ESTABLISHED RESIDENTIAL AREA, THIS PROPERTY PROVIDES A GREAT OPPORTUNITY TO BRING YOUR VISION AND CREATE A COMFORTABLE HOME OR INCOME-PRODUCING INVESTMENT. WHETHER YOU'RE AN INVESTOR SEARCHING FOR YOUR NEXT PROJECT OR AN OWNER-OCCUPANT LOOKING TO CUSTOMIZE A HOME TO YOUR TASTE, 16800 WORMER ST. IS READY FOR ITS NEXT CHAPTER. ALL SERIOUS OFFER WILL BE CONSIDERED.

16800 Wormer St, Detroit

Courtesy of Oak and Stone Real Estate 2482660584

$75,000

2 Baths ⋅ 20261082313 MLS

Investment opportunity! Income-producing two-family flat featuring upper and lower units, each with two bedrooms, one full bathroom, and a separate entrance. Both units are tenant occupied at $625 per month each, providing $1,250 in total monthly rent and $15,000 in annual gross rental income. Consistent on-time rental payments reported by the property manager. Features include a covered front porch, upper balcony, and basement. The lower-unit lease expires in April 2027, and the upper-unit lease expires in May 2027. Existing rental agreements apply.

2251-53 Clements St, Detroit

Courtesy of EXP Realty The Perna Team 8885017085

$136,999

2 Beds ⋅ 1 Baths ⋅ 81026054188 MLS

7730 Braile St, Detroit

Courtesy of Waison Realty LLC 3132082653

$225,000

3 Beds ⋅ 2 Baths ⋅ 20261082292 MLS

Welcome to 3208 Lothrop Street, a beautifully renovated 3-bedroom, 2-bathroom home in Detroit’s historic Wildemere Park area. This thoughtfully updated home blends modern comfort with timeless character and charm. Enjoy restored hardwood floors throughout, updated plumbing and electrical, a new roof, central air, and a new HVAC system. The modern kitchen is equipped with stainless steel range, refrigerator, and dishwasher. A finished bonus space provides additional room for a home office, playroom, entertainment area, or flex space. Additional features include a security system for added peace of mind. Modern finishes beautifully complement the home’s original character, creating a stylish, warm, and inviting space that is truly move-in ready.

3208 Lothrop St, Detroit

Courtesy of Slater Signature Homes 3133097047

$135,000

2 Beds ⋅ 2 Baths ⋅ 81026054154 MLS

BEAUTIFULLY RENOVATED, ENERGY-CONSCIOUS & MOVE-IN READY! Welcome to 16735 St. Marys, where timeless brick ranch charm meets modern upgrades, comfort, and convenience! This beautifully refreshed 2-bedroom, 1.5-bath home offers an inviting atmosphere with thoughtful improvements throughout. Step inside to discover stylish luxury vinyl plank flooring, a beautifully updated kitchen, updated windows, and comfortable living spaces designed for everyday enjoyment. Major improvements include updated HVAC, a newer roof, a tankless water heater, and FULLY OWNED SOLAR PANELS WITH NO LEASE OR FINANCING OBLIGATIONS, offering the potential for long-term energy savings without the burden of solar payments! Privacy window shades provide added comfort throughout the home. Love spending time outdoors? Enjoy your morning coffee on the welcoming shaded front porch or relax and entertain on the spacious covered rear porch, perfect for peaceful evenings, weekend gatherings, and creating lasting memories.A full-size, detached two-car garage provides convenient parking and additional storage. Nestled in Detroit's established Crary-St. Marys neighborhood, this home offers convenient access to shopping, dining, parks, and major roadways. Whether you're purchasing your first home, simplifying your lifestyle, or looking for a beautifully updated place to call your own, this property delivers exceptional appeal. THE RENOVATIONS ARE COMPLETE. THE SOLAR PANELS ARE OWNED. ALL THAT'S MISSING IS YOU! Schedule your private showing today and experience the possibilities of 16735 St. Marys!

16735 Saint Marys St, Detroit

Courtesy of Barrett Real Estate 2485344950

$84,999

3 Beds ⋅ 2 Baths ⋅ 20261082246 MLS

Welcome home to this well-maintained, cozy ranch in a pristine neighborhood. This move-in-ready home features 3 bedrooms, 2 full bathrooms, an updated kitchen, and a Basement with a versatile bonus room—perfect for a home office, recreation space or workout area. The functional layout provides comfortable everyday living while still offering plenty of potential to personalize the space and make it your own. Outside, enjoy a spacious yard with room for entertaining, pets, or simply relaxing outdoors. With its solid condition, practical floor plan, and additional basement space, this home is an excellent option for a first-time homebuyer or investor looking to add a well-maintained property to their portfolio. Schedule your showing today and see all the potential this home has to offer!

2477 S Bassett St, Detroit

Courtesy of KW Metro 2482883500

$65,000

3 Beds ⋅ 1 Baths ⋅ 20261080862 MLS

Fantastic investment or starter home opportunity in Detroit! Located at 20447 Russell St, this solid home features 3 bedrooms, 1 bathroom, and 960 sqft of efficient living space. Situated on a manageable lot in the 48203 zip code, this property promises low maintenance and great long-term potential. Perfect for investors looking for strong rental returns or a buyer seeking affordable homeownership. Easy access to local expressways, shopping, and dining. Selling as-is—schedule your tour today!

20447 Russell St, Detroit

Courtesy of Front Page Properties 3138779020

$55,000

3 Beds ⋅ 1 Baths ⋅ 20261082242 MLS

Investor opportunity on Detroit! This brick ranch wiht 3-bedroom, 1-bath home at 19325 Albany St. offers solid bones and needs some TLD (needs a fresch paint, replace carpest) and install a furnace and water tank. Property is being sold strictly as-is. Seller will make no repairs or improvements. Cash offers only. Buyer and buyer’s agent to verify all information. Schedule your showing and bring your vision!

19325 Albany St, Detroit

Courtesy of RE/MAX Leading Edge 3132777777

$110,000

3 Beds ⋅ 1 Baths ⋅ 20261082144 MLS

Welcome to this beautifully renovated Detroit home, thoughtfully updated and move-in ready! This charming property features a fresh modern look, updated finishes, a bright and inviting interior, and a spacious layout designed for comfortable living. The updated kitchen offers a modern feel with plenty of cabinet space, while the renovated bathroom adds a clean and contemporary touch. Enjoy the benefits of a freshly updated home without the hassle of major renovations. Conveniently located near shopping, dining, schools, parks, and major roads. Whether you’re looking for your first home or a great investment opportunity, this property is ready to welcome its new owner. Schedule your showing today!

11638 Montrose St, Detroit

Courtesy of EXP Realty Main 8885017085

$49,000

2 Beds ⋅ 1 Baths ⋅ 20261082232 MLS

Investor alert! 16815 Evergreen Detroit. Professionally managed, long-term tenant in place at this well-kept 1/2 Duplex home near Rosedale Park. Full basement and fenced yard. Right on the public transportation line with easy access to the library, shopping, and everyday conveniences. Detroit's 8th Police Precinct nearby. Strong rental history in a solid neighborhood — great add to any portfolio. Buyer to independently verify all information, including future tax bills, room measurements, square footage, and all other property information. Tenant Occupied Saturday Showings ONLY !

16815 Evergreen Rd, Detroit

Courtesy of Victory Realty Centers 3138878981

$125,000

3 Beds ⋅ 2 Baths ⋅ 20261082218 MLS

NORTHEAST DETROIT BUNGALOW — FULL OF POTENTIAL! Looking for your next investment or the perfect place to make your own? This 3-bedroom, 1.5-bathroom bungalow is full of opportunity and ready for its next owner! Property Highlights: 3 bedrooms, including a spacious primary bedroom 1.5 bathrooms Solid foundation with great potential Located on a quiet, residential street surrounded by brick homes A blank canvas ready for your personal touch and vision Whether you're an investor looking for your next project or a first-time homebuyer ready to build equity and create a space that reflects your style, this home is worth a look! It needs some cosmetic TLC, but the potential is there to make it something special. Bring your vision, unlock the potential, and make this house your next success story!

14023 Eastburn St, Detroit

Courtesy of DTW Experts LLC 3132360048

$139,000

3 Beds ⋅ 2 Baths ⋅ 20261082214 MLS

3 Bedrooms 2 Full Bathrooms. This house has been totally remodeled with new roof. Remodeled Bathrooms and kitchen with new all wood soft closed cabinets with quartz countertop. refinished hardwood floors and LVP Flooring in the kitchen, new light fixtures throughout. This home is a wonderful opportunity for first time homeowners. This home is accepting the Detroit Down Payment Assistance Program as well as banks down payment programs. This home has new gutters, plumbing with water heater and central air condition. Come enjoy your next home.

18446 Algonac St, Detroit

Courtesy of Randall Acquisition LLC 3134782707

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IDX provided courtesy of Realcomp II Ltd., via Prime Realty I. Copyright 2026 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing and that the data is deemed reliable but not guaranteed accurate by the MLS.