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.
Listed By
Agency Name: KW Metro
Agency Phone: (248) 288-3500
Shown By
Agency Title: Griffith Realty
Agency Phone: 810-227-1016
Estimated Payment
$ 302.07 per month $267.07 Principal & Interest $0.00 Property Tax (data not provided by mls) $35.00 Homeowner's Insurance
5035 Philip Street | MLS# 20261031374
This single family home located at 5035 Philip Street , Detroit, MI 48224 is currently listed for sale with an asking price of $119,999. This property was built in 1940 and has 3 bedrooms and 1 full baths with 1158 sq. ft. Philip Street is located in the Jefferson Park Land Co Ltd 1 subdivision within the Detroit school district. Search Jefferson Park Land Co Ltd 1 real estate on www.griffithrealty.com today.