5035 Philip Street, Detroit, MI 48224 2939
5035 Philip Street, Detroit, MI 48224 2939
5035 Philip Street, Detroit, MI 48224 2939
5035 Philip Street, Detroit, MI 48224 2939
5035 Philip Street, Detroit, MI 48224 2939
5035 Philip Street, Detroit, MI 48224 2939
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Shannon Bagdonas

Shannon Bagdonas

+1(313) 766-8387
$ 110,999
Est. payment | /mo

3 Beds

1 Bath

1,158 SqFt

Save
$ 110,999
Est. payment | /mo
Save

3 Beds

1 Bath

1,158 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,158 sqft

Price per Sqft $95

Subdivision Jefferson Park Land Co Ltd 1

MLS Listing ID 60994285

Style 1 1/2 Story

Bedrooms 3

Full Baths 1

Abv Grd Liv Area 1,158

Year Built 1940

Annual Tax Amount $1,007

Lot Size 3,920 Sqft

Acres 0.09

Lot Dimensions 40X101.2

Property Sub-Type Single Family

Property 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.

Location

State MI

County Wayne

Area Detroit (82001)

Rooms

Basement Unfinished

Interior

Heating Forced Air

Exterior

Garage No

Building

Story 1 1/2 Story

Foundation Basement

Water Public Water at Street

Architectural Style Bungalow

Structure Type Brick

Schools

School District Detroit City School District

Others

Ownership Private

Energy Description Natural Gas

Financing Cash,Conventional

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by KW Metro

Schools and Properties Nearby

Learn More About LPT Realty

Shannon Bagdonas
Shannon Bagdonas

Team Lead / Broker Partner

+1(313) 766-8387

movinginmichigan.net

6838 Park Ave, Allen Park, MI 48101-2036, USA

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5035 Philip Street