Pending

$274,900

487 Philip St, Detroit, MI 48215

5beds

1,952sqft

$2,515/mo

Get pre-qualified

Multi Family

Built in 1919

-- sqft lot

$272,200 Zestimate^®

$141/sqft

$-- HOA

What's special

GREAT INCOME PROPERTY. LOCATED IN A HIGHLY UPCOMING DESIREABLE AREA. PROPERTY HAS BEEN REHAB FROM TOP TO BOTTOM. (AS YOU CAN SEE IN THE PHOTO'S) IMPECCABLY PUT TOGETHER. IT WAS RECENTLY USED AS AN AIRBNB. BOTH UNITS ARE TOTALLY FINISHED AND ALL FURNITURE AND APPLIANCES WILL REMAIN. WALK RIGHT INTO A GREAT INVESTMENT. TURNKEY READY

114 days
10
1

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 2
Full bathrooms: 2

Heating

ENERGYSTAR Qualified Furnace Equipment, Forced Air, Natural Gas

Features

Basement: Full,Unfinished
Has fireplace: No

Interior area

Total interior livable area: 1,952 sqft
Finished area above ground: 1,952

Property

Features

Levels: Three
Stories: 3
Pool features: None

Lot

Size: 5,227 Square Feet
Dimensions: 35.00 x 146.00

Details

Parcel number: W21I060810S
Zoning description: MultiFamily
Special conditions: Short Sale No,Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: Colonial
Property subtype: Multi Family

Materials

Brick
Foundation: Basement, Poured

Condition

New construction: No
Year built: 1919

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Subdivision: LAKEWOOD PARK SUB (PLATS)

Location

Region: Detroit

Financial & listing details

Price per square foot: $141/sqft
Tax assessed value: $6,000
Annual tax amount: $518
Date on market: 9/24/2024
Cumulative days on market: 114 days
Listing agreement: Exclusive Agency
Listing terms: Cash,Conventional,FHA,Va Loan

Estimated market value

$272,200

$242,000 - $305,000

$1,377/mo

Price history

Date	Event	Price
1/9/2025	Pending sale	$274,900$141/sqft
Source: Realcomp II #20240072122 Report a problem
1/6/2025	Listing removed	$274,900$141/sqft
Source: Realcomp II #20240072122 Report a problem
12/10/2024	Price change	$274,900-8.3%$141/sqft
Source: Realcomp II #20240072122 Report a problem
9/25/2024	Listed for sale	$299,900+274.9%$154/sqft
Source: Realcomp II #20240072122 Report a problem
7/26/2022	Listing removed	--
Source: Realcomp II #20221021198 Report a problem
7/20/2022	Listed for sale	$80,000+7900%$41/sqft
Source: Realcomp II #20221021198 Report a problem
6/19/2020	Listing removed	$1,000$1/sqft
Source: Detroit Land Bank Authority Report a problem
6/11/2020	Listed for sale	$1,000-71.4%$1/sqft
Source: Detroit Land Bank Authority Report a problem
11/21/2009	Listing removed	$3,500$2/sqft
Source: ERA DYNASTY #29113145 Report a problem
10/25/2009	Price change	$3,500-30%$2/sqft
Source: ERA DYNASTY #29113145 Report a problem
8/31/2009	Price change	$5,000-33.3%$3/sqft
Source: ERA DYNASTY #29113145 Report a problem
8/27/2009	Price change	$7,500+50%$4/sqft
Source: ERA DYNASTY #29113145 Report a problem
8/26/2009	Listed for sale	$5,000-92.8%$3/sqft
Source: ERA DYNASTY #29113145 Report a problem
6/25/2008	Sold	$69,684-12.9%$36/sqft
Source: Public Record Report a problem
1/9/2004	Sold	$80,000+226.5%$41/sqft
Source: Public Record Report a problem
10/21/2003	Sold	$24,500-70%$13/sqft
Source: Public Record Report a problem
3/15/2003	Sold	$81,544$42/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	--	$7,600 +26.7%
2024	--	$6,000 +66.7%
2023	--	$3,600 +16.1%
2022	--	$3,100
2021	--	--
2020	$478	--
2019	$478	$3,240 +102.5%
2018	$478	$1,600
2017	--	--
2016	$986	$6,300
2015	$986 +49.5%	$6,300 -4.5%
2013	$660 -33.1%	$6,599 -31.8%
2010	$986	$9,674 -18%
2009	--	$11,798 -14.5%
2008	--	$13,799
2007	--	$13,799 +5.5%
2005	$159	$13,080 +3%
2004	--	$12,699 -35.4%
2001	$1,636	$19,650