18620 MAINE ST Detroit MI 48234 MLS #20240071509

Great investment opportunity in the Northeast Central District and awaiting your vision. Offered by the Detroit Landbank Authority, this home is a 3 bedroom bungalow included with the vacant land, 18610 Maine that is 5271 square feet. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal (not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development.