5035 Philip Street
Detroit, Michigan 48224
3
Bed
1
Bath
1,158Sqft
0.09Acre(Lot)
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 i
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total Bedrooms: 3Bathroom Information
Total Baths: 1 Full Baths: 1 -
Room Information
Total Rooms: 7Interior Features
Basement Description: Unfinished -
Heating & Cooling
Heating: Forced Air Heating Fuel: Natural Gas
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Building Information
Year Built: 1940 Building Stories: 1 1/2 Story Foundation/Basement: Basement Architecture: Bungalow -
Exterior Features
Construction: Brick -
Utility Features
Sewer: Sewer (Sewer-Sanitary),Sewer at Street -
Water
Water at Street
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Lot Information
Lot Size: 0.09 Lot Dimensions: 40X101.2 Frontage Feet: 40 -
Property Information
SQ ft: 1158 Subdivision: Jefferson Park Land Co Ltd 1 Financing: Cash,Conventional,Warranty Deed
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Listing Price Information
Original List Price: $119,999 -
Listing Information
Possession: Subject To Tenant Rights Legal Description: W PHILIP 853 JEFFERSON PARK LAND CO LIMITED SUB NO 1 L50 P78 PLATS, W C R 21/755 40 X 101.20
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Tax Information
Annual Tax: $1,007 Parcel Number: W21I060531S -
Possession
Subject To Tenant Rights -
Legal Information
Legal Description: Section: W PHILIP 853 JEFFERSON PARK LAND CO LIMITED SUB NO 1 L50 P78 PLATS, W C R 21/755 40 X 101.20
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Parking Information
Garage Size: No Garage -
Multi-Unit Information
Road Frontage: Paved
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School Information
School District: Detroit -
Utility Information
Water: Water at Street Sewer: Sewer (Sewer-Sanitary),Sewer at Street
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 5225 Three Mile Drive , Detroit, MI, 48224 | $136,900 | 3 | 1 | 1,456 | 1,456 SqFt |
| 5764 Marseilles Street , Detroit, MI, 48224 | $99,900 | 3 | 1.5 | 996 | 996 SqFt |
| 11327 Whitehill Street , Detroit, MI, 48224 | $114,000 | 3 | 1 | 1,003 | 1,003 SqFt |
| 5251 Nottingham Road , Detroit, MI, 48224 | $175,000 | 3 | 2 | 1,457 | 1,457 SqFt |
| 19205 Mccormick Street , Detroit, MI, 48224 | $75,000 | 3 | 1 | 1,100 | 1,100 SqFt |
| 6144 Radnor Street , Detroit, MI, 48224 | $165,000 | 3 | 1 | 1,078 | 1,078 SqFt |
| 10910 Worden Street , Detroit, MI, 48224 | $175,000 | 3 | 2 | 1,050 | 1,050 SqFt |
| 11537 Roxbury Street , Detroit, MI, 48224 | $129,900 | 3 | 1 | 1,004 | 1,004 SqFt |
| 3455 Buckingham Avenue , Detroit, MI, 48224 | $140,000 | 3 | 1 | 1,400 | 1,400 SqFt |
| 5501 Oldtown Street , Detroit, MI, 48224 | $169,999 | 4 | 1.5 | 1,900 | 1,900 SqFt |
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ByOwner last updated this listing 06/22/2026 @ 02:27
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