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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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5035 Philip St , Detroit, MI 48224
$114,999
Est. Payment: $592.19/mo
3 Bed
1 Bath
1158 Sqft
Status: active | Days on site: 75
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Jim Blehm
Team Owner, Realtor®

House 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.

Highlights

Listed by Elijah Cook , 313-694-6970 KW Metro , 248-288-3500. MichRIC

Property Type

Residential

Lot/Acreage
0.09

Year Built

1940

County

Wayne

School District

Detroit

Listing ID

20261031374

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:3
  • Bathrooms:1
  • Full Bathrooms:1

Exterior Features

Sewer:Public
Principal Interest
$592
Taxes
$84

Home Price

$114,999

Loan Details

30 yrs
6.676%

Down Payment

20%
$23,000
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Monthly Price:
$592.19

Principal

Taxes

Principal Taxes HOA Total
Monthly $592.19 $83.92 $0.00 $676.10
Yearly $7,106.24 $1,007.00 $0.00 $8,113.24
Total $213,187.22 $30,210.00 $0.00 $243,397.22
Lender profile image
Brian Belinger
Loan Originator
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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Southwestern Michigan Regional Information Center, LLC and is deemed reliable but not guaranteed accurate.

Data last updated: 2026-08-03T01:53:30.000Z

© 2026 MichRIC