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About the Listing 101404 - RC417241,RC449311
Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it. With Cash Flow Already Moving. This one is for the buyer who wants income without walking into a project. Fully remodeled in 2025 and already tenant-occupied at **$1,150/month** with a lease in place through "August 2026." That's **$13,800/year in gross rental income** from day one. Inside, the heavy lifting has already been done: updated kitchen, new cabinets, fresh tile, modern appliances, and clean finishes that today's tenants actually want. No guessing. No "maybe it rents." The tenant is already there and paying. For investors, the cap rate will depend on the final purchase price and expenses, but the math starts strong with a steady monthly income already in place. Bring your numbers and run them. This could be a solid addition to the portfolio. Location is another big plus. You're in an improving east side pocket with quick access to the Ford Freeway, roughly "15 minutes to Downtown Detroit", minutes from "Chandler Park", close to "Grosse Pointe," and a short drive to waterfront spots, shopping, dining, and everyday amenities. Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it.
Listing Highlights
Status
Active
Days on Site
32
Property Type
Residential
MLS ®
60994285
Year Built
1940
Total Square Footage
1,158
Lot/Acreage
0.09
County
Wayne
Neighborhood
Jefferson Park Land Co Ltd 1
Area
Detroit (82001)
School District
Detroit City School District
Interior Details
- Bedrooms: 3
- Bathrooms: 1 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas,Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 1158
- Below Ground Sq Ft: n/a
- Basement: Unfinished
- Other:
- Water: Public Water at Street
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 40X101.2
- Roof:
- Others:
- Sewer: Public At Street
Financial Details
- Tax Amount: $1,007
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
5035 Philip Detroit, MI 48224
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