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.
For sale
Price cut: $5K (5/28)
$114,999
5035 Philip St, Detroit, MI 48224
3beds
1,158sqft
Single Family Residence
Built in 1940
3,920 Square Feet Lot
$-- Zestimate®
$99/sqft
$-- HOA
What's special
Modern appliancesClean finishesUpdated kitchenNew cabinetsFresh tile
- 54 days |
- 164 |
- 19 |
Zillow last checked:
Listing updated:
Listed by:
Elijah Cook 313-694-6970,
KW Metro 248-288-3500,
Dashayla Walker 248-288-3500,
KW Metro
Source: Realcomp II,MLS#: 20261031374
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
Primary bedroom
- Level: Second
- Area: 294
- Dimensions: 14 X 21
Bedroom
- Level: Entry
- Area: 99
- Dimensions: 11 X 9
Bedroom
- Level: Entry
- Area: 132
- Dimensions: 12 X 11
Other
- Level: Entry
- Area: 56
- Dimensions: 7 X 8
Dining room
- Level: Entry
- Area: 99
- Dimensions: 9 X 11
Kitchen
- Level: Entry
- Area: 132
- Dimensions: 12 X 11
Living room
- Level: Entry
- Area: 192
- Dimensions: 16 X 12
Heating
- Forced Air, Natural Gas
Features
- Basement: Unfinished
- Has fireplace: No
Interior area
- Total interior livable area: 1,158 sqft
- Finished area above ground: 1,158
Property
Parking
- Parking features: No Garage
Features
- Levels: One And One Half
- Stories: 1.5
- Entry location: GroundLevelwSteps
- Pool features: None
Lot
- Size: 3,920 Square Feet
- Dimensions: 40 x 101.2
Details
- Parcel number: W21I060531S
- Special conditions: Short Sale No,Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow
- Property subtype: Single Family Residence
Materials
- Brick
- Foundation: Basement, Brick Mortar
Condition
- New construction: No
- Year built: 1940
Utilities & green energy
- Sewer: Public Sewer, Sewer At Street
- Water: Waterat Street
Community & HOA
Community
- Subdivision: JEFFERSON PARK LAND CO LTD 1
HOA
- Has HOA: No
Location
- Region: Detroit
Financial & listing details
- Price per square foot: $99/sqft
- Tax assessed value: $9,065
- Annual tax amount: $1,007
- Date on market: 5/19/2026
- Cumulative days on market: 54 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional,Warranty Deed
Estimated market value
Not available
Estimated sales range
Not available
$1,270/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/28/2026 | Price change | $114,999-4.2%$99/sqft |
Source:  Realcomp II #20261031374 Report a problem | ||
| 5/19/2026 | Listed for sale | $119,999-7%$104/sqft |
Source: Realcomp II #20261031374 Report a problem | ||
| 8/6/2025 | Listing removed | $1,150$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/25/2025 | Price change | $1,150-11.5%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/1/2025 | Listed for rent | $1,300+52.9%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/27/2025 | Sold | $129,000-4.4%$111/sqft |
Source: Realcomp II #20250016606 Report a problem | ||
| 4/8/2025 | Pending sale | $135,000$117/sqft |
Source: Realcomp II #20250016606 Report a problem | ||
| 3/26/2025 | Price change | $135,000-2.9%$117/sqft |
Source: Realcomp II #20250016606 Report a problem | ||
| 3/12/2025 | Listed for sale | $139,000+198.9%$120/sqft |
Source: Realcomp II #20250016606 Report a problem | ||
| 6/29/2024 | Listing removed | $46,500$40/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 11/7/2023 | Price change | $46,500-3.1%$40/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 10/26/2023 | Price change | $48,000-4%$41/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 10/2/2023 | Price change | $50,000-2%$43/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 6/27/2023 | Price change | $51,000-1.9%$44/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 6/8/2023 | Price change | $52,000-3.7%$45/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 5/1/2023 | Price change | $54,000-1.8%$47/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 2/9/2023 | Listed for sale | $55,000+129.2%$47/sqft |
Source: Realcomp II #20230009724 Report a problem | ||
| 8/3/2020 | Listing removed | $850$1/sqft |
Source: City Management Group Report a problem | ||
| 10/10/2019 | Listed for rent | $850+13.3%$1/sqft |
Source: City Management Group Report a problem | ||
| 10/23/2018 | Listing removed | $750$1/sqft |
Source: City Management Group Report a problem | ||
| 10/3/2018 | Listed for rent | $750$1/sqft |
Source: City Management Group Report a problem | ||
| 3/6/2018 | Listing removed | $750$1/sqft |
Source: City Management Group Report a problem | ||
| 11/29/2017 | Listed for rent | $750$1/sqft |
Source: Rondo Investment - Rondo Investment, LLC Report a problem | ||
| 9/18/2017 | Sold | $24,000-31.4%$21/sqft |
Source: Public Record Report a problem | ||
| 8/2/2017 | Listed for sale | $35,000+438.5%$30/sqft |
Source: RE/MAX Leading Edge #217068369 Report a problem | ||
| 10/20/2015 | Sold | $6,500-94.8%$6/sqft |
Source: Public Record Report a problem | ||
| 9/9/2014 | Sold | $124,263$107/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $18,100 +23.1% |
| 2024 | -- | $14,700 +16.7% |
| 2023 | -- | $12,600 +59.5% |
| 2022 | -- | $7,900 -7.1% |
| 2021 | -- | $8,500 |
| 2020 | $1,335 +53.2% | $8,500 +11.8% |
| 2019 | $871 | $7,600 +4.1% |
| 2018 | $871 | $7,300 |
| 2017 | -- | $7,300 -50.7% |
| 2016 | $1,543 | $14,800 |
| 2015 | $1,543 -10.9% | $14,800 -14.6% |
| 2013 | $1,732 +12.2% | $17,322 -31.8% |
| 2010 | $1,543 | $25,395 -12% |
| 2009 | -- | $28,858 -13.5% |
| 2008 | -- | $33,362 |
| 2007 | -- | $33,362 +5.5% |
| 2005 | $384 | $31,623 +3% |
| 2004 | -- | $30,702 +188% |
| 2001 | $694 | $10,659 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Chandler Park-Chalmers
Nearby schools
GreatSchools rating
- 2/10EMAN Hamilton AcademyGrades: PK-8Distance: 0.3 mi
- 3/10East English Village Preparatory AcademyGrades: 9-12Distance: 1.7 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Michigan
- Wayne County
- Detroit
- 48224
- Chandler Park-Chalmers
- 5035 Philip St
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Detroit Topics
