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5035 Philip Street , Detroit, MI 48224

$119,999
  • 5035 Philip Street , Detroit, MI 48224 Main Photo

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BEDS3 BATHS1 full SQUARE FEET1,158 MLS#20261031374
STATUSActive PROPERTY TYPEResidential - Single Family SUBDIVISIONJefferson Park Land Co Ltd 1 SCHOOLDetroit

Property 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.

5035 Philip Street | MLS# 20261031374

This single family home located at 5035 Philip Street , Detroit, MI 48224 is currently listed for sale with an asking price of $119,999. This property was built in 1940 and has 3 bedrooms and 1 full baths with 1158 sq. ft. Philip Street is located in the Jefferson Park Land Co Ltd 1 subdivision within the Detroit school district. Search Jefferson Park Land Co Ltd 1 real estate on james.griffithrealty.com today.

Property Features

Property Type: Residential - Single Family
Basement: Unfinished
Fuel Type: Natural Gas
Heating: Forced Air
Home Style: Bungalow
Lot Size: 0.09 Acres
Year Built: 1940

Feature Descriptions

Architecture: Bungalow
Exterior: Brick
Foundation: Basement
Frontage Feet: 40
Lot Dimensions: 0.09 Acre(s)
Road Frontage: Paved
Summer Tax: $928.0000
Water Name: DaShayla WaLAKEer
Winter Tax: $79.0000

Room Sizes

Living Room: Level - First/Entry
Dining Room: Level - First/Entry
Kitchen: Level - First/Entry
Bath - Full: Level - First/Entry
Bedroom: Level - First/Entry
Bedroom: Level - First/Entry
Bedroom - Primary: Level - Second

Local Schools

School District: Detroit

Listed By / Shown By

Listed By

Agency Name: KW Metro
Agency Phone: (248) 288-3500

Shown By

Agent Name: James Dewling
Agent Phone: (810) 227-1016 ext. 213
Agency Title: Griffith Realty

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Estimated Payment

$ 302.07 per month $267.07 Principal & Interest $0.00 Property Tax (data not provided by mls) $35.00 Homeowner's Insurance

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 05/20/2026. The listing information on this page last changed on 05/20/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Wed 05/20/2026 12:24:44 AM EST) or RealComp MLS (last updated Wed 05/20/2026 12:15:49 AM EST). Real estate listings held by brokerage firms other than Griffith Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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