Updated property. Paying tenant. Immediate income. That's the

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Home For Sale

5035 Philip St

Detroit, Michigan 48224

Wayne County

Community: Jefferson Park Land Co Ltd 1

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$119,999 3 br, 1.0 bath 1158 sq. ft. 0.090 acres

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.

Interior:
  • Bedrooms: 3
  • Baths: 1.0
  • Sq Ft: 1158
  • Year Built: 1940
  • Utilities: 
  • Fireplaces: 
  • Stories: 2
  • Heat/AC: Forced Air
  • Garage: 
Exterior:
  • Lot Size: 0.090 acre
  • Lot Dimensions: 
  • View Types: 
  • Yard: 
  • Siding: Brick
  • Roof: 
  • Property Taxes: $1,007
  • MLS #: 20261031374
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Contact Information:
Beach Home For Sale in Detroit, Michigan
Listing Agent: Elijah Cook, Keller Williams Royal Oak, 248-288-3500, 248-288-3500 Listing Site, Listing Status: Active
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ad Number: 7749631
Viewed 6 times.
Updated: May 20, 2026

This property is a Home located at 5035 Philip St, Detroit, Michigan 48224, and is currently For Sale at $119,999. This Home has 3 bedrooms, 1.0 baths, 1158 sq ft.