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$119,999

5035 Philip Street – 48224

Detroit, Michigan 48224

Chandler Park-Chalmers Neighborhood

3 Beds

1 Baths

1158 Sq FT

$103.63 Price per Sq Ft

Highlights

NoGarage

About This Home

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.

Listing Agent

Elijah Cook

KW Metro

Listed on : May 15, 2026

Co-Listing Agent

Dashayla Walker

Activity

Days on Market:

6

Home Details

Home Type

  • Residential

Est. Annual Taxes

  • $1,007

Year Built

  • Built in 1940

Lot Details

  • 0.09 Acre Lot
  • Lot Dimensions are 40X101.2

Parking

  • NoGarage

Home Design

Interior Spaces

  • 1,158 Sq Ft Home

Kitchen

Flooring

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 1 Bathrooms

Laundry

Finished Basement

Home Security

Pool

Outdoor Features

Location

  • DetroitCity_Wayne, Michigan
  • Wayne County
  • Postal Code: 48224

Utilities

  • ForcedAir, NaturalGas
  • Water Source: WateratStreet
  • Sewer: PublicSewer, SewerAtStreet

About the Showing Agent

Alaysia Means

eXp Realty

313-758-9413

mail IconContact Alaysia

Michigan Real Estate Professional Alaysia Means is devoted to servicing future home buyers and sellers in the Metro Detroit Area. Alaysia has a great reputation for going above and beyond for her clients. When working with her, you can count on nothing less than exceptional service and knowledge of the Metro Detroit area. Alaysia's main priority is making sure her clients receive the best service. She is committed to giving professional high quality real estate services. ​Her outgoing personality and relatable character has her going full speed ahead in her career. Alaysia possesses dynamic qualities that set her apart and enable her to successfully achieve the goals of the buyers and sellers she represents.

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About Chandler Park-Chalmers

Chandler Park-Chalmers Learn More About Chandler Park-Chalmers
eXp Realty

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