5035 Philip Street, Detroit, Michigan 48224

$114,999

Property Details

MLS#: 20261031374
Bedrooms: 3
Bathrooms: 1
Square Feet: 1,158
Price per Sqft: $99
Lot Size: 0.09 acres
Year Built: 1940
Property Type: Residential
Status: Active
Days on Market: 20

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

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 5035 Philip Street?

5035 Philip Street is listed at $114,999, or $99 per square foot.

How many bedrooms does 5035 Philip Street have?

This property has 3 bedrooms and 1 bathrooms, with 1,158 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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