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$ 257,900
Est. payment | /mo
2 Baths
3,920 Sqft Lot
$ 257,900
Est. payment | /mo
2 Baths
3,920 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261050840
Year Built 1907
Annual Tax Amount $5,211
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 33x115
Source Realcomp
Property Description
High-yield Detroit duplex with stable income and value-add upside.Prime investment structure: two-unit duplex (multi-family zoning) with 3-bedroom units—ideal for long-term rental demand and simple portfolio scaling. Fully occupied with tenant possession and existing leases in place, delivering immediate cash flow from day one; rent reportedly includes sewer and water. Favorable operating footprint: 33 x 115 lot, paved road frontage, on-street parking and public utilities (water/sewer/cable available), simplifying management and lowering capital surprises. Solid building fundamentals: built 1907 with poured full basement (approx. 1,045 sq ft) and updated systems possible to prioritize for value-add; duplex layout and two-story configuration support unit-level renovations and rent bumps. Complete renovation 2024 inside and out. Updated plumbing, electrical with new service pannels, HVAC with new furnances, all seperate utilities except one water meter that the tenants split the bill. New windows, roof & exterior siding, new decking and patios. Financial edge for buyers: lower listing price (seller motivated to move to larger multifamily) creates opportunity for immediate equity and accelerated returns through modest rent increases, expense optimization, or unit upgrades. Compare to comparables in the $300,000+ range. Quick due-diligence wins: clear public records (property ID W1910048775S) and mapped location in Detroit (zip 48206) enable fast underwriting and neighborhood comparables. Financing and exit: Detroit investor-friendly loan products exist for small multifamily; current 30-year fixed quotes near 7% for approved credit may apply—shop multiple lenders for best leverage to boost cash-on-cash returns.
Location
State MI
County Wayne
Zoning Multi-Family
Direction North off E Jefferson 2 blocks & 3 blocks east of McClellan Ave.
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Lot Description Sidewalk
Water Public
Structure Type Vinyl Siding
Schools
School District Detroit
Others
Tax ID W19I004875s
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Fresh Start Homes
Nearby Locations
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