# 5035 Philip Street, Detroit, MI 48224

> **TL;DR:** 3bd/1ba single family, $114,999 ($99/sqft), built 1940, 1,158 sqft. Est. $498/mo. Listed 17 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $114,999 |
| Price/sqft | $99 |
| Bedrooms | 3 |
| Bathrooms | 1 full |
| Square Feet | 1,158 |
| Year Built | 1940 |
| Lot Size | 3,920 sqft (0.09 acres) |
| Stories | 2 |
| Property Type | Single Family (Other) |
| Status | For Sale |
| Days on Market | 17 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $498 |
| **Total** | **$498** |

## Property Highlights

- Built in 1940
- 0.09 acre lot
- 2 stories

## Description

### Agent 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.

## Location

- **Address:** 5035 Philip Street, Detroit, MI 48224
- **County:** Wayne
- **Neighborhood:** Jefferson Park Land Co Ltd 1
- **Coordinates:** 42.396612, -82.957602
- **Google Maps:** https://www.google.com/maps?q=42.396612,-82.957602

## Listing Agent

- **Name:** Elijah Cook
- **Brokerage:** KW Metro
- **Phone:** (248) 288-3500
- **Email:** ecooktherealtor@gmail.com

## Primary Photo

![5035 Philip Street - Primary Photo](http://lh.rdcpix.com/1d1f72e43074cf8c16eb85cb0f3e45bdl-f2168832640r.jpg)

*17 total photos available on [listing page](https://www.propertysimple.com/listing/5035-philip-street-detroit-mi-48224-61031374)*

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**MLS#:** 20261031374 | **Updated:** 2026-06-19
**Source:** listhub

*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.*

[View on PropertySimple](https://www.propertysimple.com/listing/5035-philip-street-detroit-mi-48224-61031374)

---

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