REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 174,900
Est. payment /mo
Contingent
5025 Somerset Avenue Detroit, MI 48224 3140
2 Baths
1,772 SqFt
OPEN HOUSE
Sat Jul 19, 1:00pm - 5:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Contingent
Purchase Type For Sale
Square Footage 1,772 sqft
Price per Sqft $98
Subdivision Mi
MLS Listing ID 60398882
Style 2 Story
Full Baths 2
Year Built 1929
Annual Tax Amount $3,567
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 40X120
Property Sub-Type Multi-Family
Property Description
Welcome to 5025 Somerset, a fully renovated, vacant duplex nestled in one of Detroit's resurging neighborhoods. It's perfect for first-time buyers looking to house hack or investors seeking strong cash flow from day one. This property has been completely upgraded in 2024-2025, offering peace of mind with all major systems modernized: New roof New PVC plumbing and updated electrical New furnace and hot water tank (to be installed prior to appraisal) Brand-new appliances in both units (refrigerator, stove/oven, microwave) Each unit is move-in ready: Upper Unit – 1 bedroom, projected rent: $750/mo Lower Unit – 2 bedrooms, projected rent: $1,250/mo Estimated Total monthly income: $2,000 With low estimated expenses - currently estimated property taxes are around $3,500 annually and a projected mortgage of around $1,600/mo - this property delivers an estimated CAP rate of 9.6% (based on projected net income), making it a prime buy-and-hold or house-hack opportunity. Additional highlights: Privacy fence for added security and outdoor enjoyment Located minutes from Downtown Detroit, major freeways, and local shopping, Vacant and ready for immediate occupancy or lease-up Whether you're an investor looking to expand your portfolio or a first-time homebuyer ready to build equity, Somerset checks all the boxes. Schedule your tour today and lock in your next income-producing asset.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Residential
Interior
Heating Forced Air
Fireplace No
Exterior
Exterior Feature Brick, Vinyl Siding
Building
Story 2 Story
Foundation Basement
Water Public Water
Structure Type Brick,Vinyl Siding
Schools
School District Detroit City School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by KW Metro