2292 Richton Street, Detroit, MI 48206 1214
2292 Richton Street, Detroit, MI 48206 1214
2292 Richton Street, Detroit, MI 48206 1214
2292 Richton Street, Detroit, MI 48206 1214
2292 Richton Street, Detroit, MI 48206 1214
2292 Richton Street, Detroit, MI 48206 1214
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Shannon Bagdonas

Shannon Bagdonas

+1(313) 766-8387
$ 199,888
Est. payment | /mo

22 Baths

2,104 SqFt

Save
$ 199,888
Est. payment | /mo
Save

22 Baths

2,104 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,104 sqft

Price per Sqft $95

Subdivision Mi

MLS Listing ID 61008579

Style 2 Story

Full Baths 22

Year Built 1923

Annual Tax Amount $1,782

Lot Size 4,356 Sqft

Acres 0.1

Lot Dimensions 45X100

Property Sub-Type Multi-Family

Property Description

High-yield Detroit duplex with stable income and value-add upside. Prime investment structure: two-unit duplex (multi-family zoning) with 3-bedroom units--ideal for long-term rental demand and simple portfolio scaling. Complete renovation 2023 inside and out. Updated plumbing, electrical with new service pannels, HVAC with new furnances, all seperate utilities except one water meter that the tenants split the bill. New windows, roof & exterior siding, new decking and patios. Financial edge for buyers: lower listing price (seller motivated to move to larger multifamily) creates opportunity for immediate equity and accelerated returns through modest rent increases, expense optimization, or unit upgrades. Compare to comparables in the $250,000+ range. Fully occupied with tenant possession and existing leases in place, delivering immediate cash flow from day one; rent reportedly includes sewer and water. Favorable operating footprint: 45 x 100 lot, paved road frontage, on-street parking and public utilities (water/sewer/cable available), simplifying management and lowering capital surprises. Solid building fundamentals: built 1923 with poured full basement (approx. 1,045 sq ft) and updated systems possible to prioritize for value-add; duplex layout and two-story configuration support unit-level renovations and rent bumps. Tax and cost advantages: property is assessed on a special act roll and exempt from ad valorem taxes through 12/30/2027, reducing near-term tax expense and improving net operating income. Current summer and winter tax figures are listed (Summer: $1,116; Winter: $666). Financial edge for buyers: lower listing price (seller motivated to move to larger multifamily) creates opportunity for immediate equity and accelerated returns through modest rent increases, expense optimization, or unit upgrades. Quick due-diligence wins: clear public records (property ID W08I003749S) and mapped location in Detroit (zip 48206) enable fast underwriting and neighborhood comparables. Financing

Location

State MI

County Wayne

Area Detroit (82001)

Zoning Multi-Family

Rooms

Basement Poured

Interior

Interior Features Cable/Internet Avail.

Heating Forced Air

Fireplace No

Exterior

Exterior Feature Vinyl Siding, Wood

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Vinyl Siding,Wood

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 Fresh Start Homes

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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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2292 Richton Street