2292 Richton Street, Detroit, Michigan 48206

$204,900

Property Details

MLS#: 20261045009
Bedrooms: N/A
Bathrooms: 22
Square Feet: 2,104
Price per Sqft: $97
Lot Size: 0.1 acres
Year Built: 1923
Property Type: ResidentialIncome
Status: Active
Days on Market: 5

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. 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 and exit: Detroit investor-friendly loan products exist for small multifamily; current 30-year fixed quotes near 7% for approved credit may apply—shop multiple lenders for best leverage to boost cash-on-cash returns.

Location

This property is located in Detroit, Michigan. Detroit is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.

Frequently Asked Questions

What is the price of 2292 Richton Street?

2292 Richton Street is listed at $204,900, or $97 per square foot.

How many bedrooms does 2292 Richton Street have?

This property has N/A bedrooms and 22 bathrooms, with 2,104 square feet of living space.

Schedule a Showing

Interested in this property? Contact Sonic Realty to schedule a private showing. Our experienced agents can help you navigate the home buying process.

Phone: (313) 466-2430

Email: info@sonicrealty.com

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