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Listed price in listed location currency (USD).
$119,999

310

MLS® 20261031374

  • Key Facts
  • Description
  • Map

Key Facts

Type Single Family Residence
Levels Residential
Size 1158 sqft
Garage 
Taxes $1,007
Days Active 5
Lot Size 
Approx. Age 1940
Avg. Price Per Sqft $103
MLS® Number 20261031374

Property Address: 5035 Philip St, Detroit, MI, 48224-2939

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number20261031374
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1940
BasementUnfinished
DrivewayNo Garage
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 19, 2026List Date
$119,999List Price
Apr 8, 2025End Date
$129,000Sold Price

Sold

Mar 12, 2025List Date
$135,000List Price
Aug 6, 2025End Date
$1,150Sold Price

Leased

Aug 4, 2025List Date
$1,150List Price

Home Appraisal

This property is estimated to sell between: $83,000 and $139,000.
Similar properties in this area sold on average for: $83,437
Expected to sell in 42 days. Similar properties sold in 47 days. This home has been on eXp Realty for 5 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

  • Commute

Commute

Starting Address
Destination Address
5035 Philip St, Detroit, MI

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