5035 Philip Street, Detroit, MI 48224

Detroit
Local realty services provided by:ERA Prime Real Estate Group
5035 Philip Street,Detroit, MI 48224
$114,999
  • 3 Beds
  • 1 Baths
  • 1,158 sq. ft.
  • Single family
  • Active
Listed by: elijah cook, dashayla walker
Office: kw metro
MLS#:20261031374
Source:MI_REALCOMP

Price summary

  • Price:$114,999
  • Price per sq. ft.:$99.31

About this home

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...

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Home facts

  • Year built:1940
  • Subdivision & Development:JEFFERSON PARK LAND CO LTD 1
  • Listing ID #:20261031374
  • Added:108 day(s) ago
  • Updated:September 04, 2026 at 10:01 AM

Rooms and interior

  • Bedrooms:3
  • Total bathrooms:1
  • Full bathrooms:1
  • Rooms Total:6
  • Basement Description:Unfinished
  • Living area:1,158 sq. ft.

Heating and cooling

  • Heating:Forced Air, Natural Gas

Structure and exterior

  • Year built:1940
  • Building area:1,158 sq. ft.
  • Lot area:0.09 Acres
  • Architectural Style:Bungalow
  • Construction Materials:Brick
  • Foundation Description:Basement, Brick Mortar

Utilities

  • Water:Water at Street
  • Sewer:Public Sewer, Sewer at Street

Finances and disclosures

  • Price:$114,999
  • Price per sq. ft.:$99.31
  • Tax amount:$1,007

Parking

  • Parking description:No Garage
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