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$285,000
Est. payment /mo
2 Baths
4,791 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261027321
Year Built 1934
Annual Tax Amount $8,375
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 40X120
Source Realcomp
Property Description
Strong investment opportunity in the heart of Palmer Park, one of Detroit's most established and walkable neighborhoods. This duplex is already producing $2,000 a month in income, with the top unit leased at $1,500 and a separate basement bedroom rented at $500, while the lower unit sits vacant and ready for its next owner or tenant. That open unit makes the property an ideal house-hack setup, where a buyer can move into their own space and let the existing tenants help carry the mortgage from day one, or a turnkey play for an investor who simply wants to fill the vacancy at market rent and run the building as pure cash flow. With roughly 2,931 square feet of living space, a shared driveway, and a private rear parking lot that tenants consistently appreciate, the layout fits the way people actually want to live in this part of the city. Step outside and Palmer Park is right there with its hiking and biking trails, tennis courts, and 18-hole golf course, and you are just minutes from the University of Detroit Mercy, Marygrove College, Henry Ford Hospital, and the shopping and dining along Woodward Avenue and McNichols Road. Recent comparable duplex sales in the immediate area have been pricing in the mid three hundreds with 3-bedroom units leasing in the upper $1,600s, pointing to real upside on both rents and long-term value. Whether you are a seasoned investor expanding your portfolio or a first-time buyer breaking into the market the smart way, properties like this do not stay available long in Palmer Park.
Location
State MI
County Wayne
Zoning Multi-Family,Residential
Direction 8 Mile & Livernois
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W02I005172S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by NATOD Management
Nearby Locations
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