8 days on rocket

1055 Philip St, Detroit, MI, 48215

$950,000

Home List Price

$10,000*

Closing Credit

20 Full Baths
11,949 SqFt
$80/SqFt
Multi

Location

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1055 Philip St, Detroit$950,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Year Built1928
HeatingForced Air, Natural Gas
BasementYes
MLS #20240088848
Lot Size0.15 Acres
StatusActive

About 1055 Philip St

Discover an exceptional investment opportunity with this 20-unit multifamily property located just off Jefferson Avenue in Detroit. With 9 units currently leased, this property offers immediate income potential and room for growth. Well-positioned near major roadways and public transit for commuter convenience. This property is perfect for investors seeking steady income and long-term appreciation in a desirable Detroit location. Don’t miss this opportunity to expand your portfolio!

Property Details

Property Features

Property Information:

  • Architectural Style: Other
  • Year Built: 1928
  • Living Area: 11,949 SqFt

Listing Office:

  • Office Name: REALTEAM Real Estate
  • Office Phone: (586) 580-8092
  • Listing Agent: Tiroca Battle

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 20

Exterior Features

Parking Information:

  • Attached Garage: No

Lot Features

Lot Information:

  • Lot Size: 0.15 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Natural Gas

Other

Directions Information:

  • Directions: N of Jefferson Ave E/E of Connor St

Price Information

Listing Price Info

Price Summary:

  • List Price: $950,000
  • Price Per SqFt: $80/SqFt

Tax Information:

  • Annual Amount: $10,452
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Detroit, MI.

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Detroit, MI

City

Med. Sold Price

$85K

Med. Price/SqFt

$67

Avg. Days On Market

49

# of Sold Homes

396

1055 Philip St vs Detroit

8 DAYS ON ROCKET

-41 Days

$950,000

+$864.9K More

$80/SqFt

+$12 More

KEY TAKEAWAY

This property is $864.9K more than the Median Sold Price and $12/SqFt more than other homes in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Realcomp II Ltd
  • MLS Number: #20240088848

Listing Office:

  • Office Name: REALTEAM Real Estate
  • Office Phone: (586) 580-8092
  • Listing Agent: Tiroca Battle

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2024 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/4/2024, 8:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$10,452$222,300
2020$2,607$177,100
2018$2,607$186,600
2017$4,946$174,400

History based on county public records data.

Payment Calculator

$4,809

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,915

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-146659
6
/10

  • George Defer Elementary School

  • 15425 Kercheval Ave

  • 0.67 miles

  • Public District Grades KG-5

school-card-donut-146660
1
/10

  • Marvin L Winans Academy Elementary School

  • 9740 McKinney St

  • 2.73 miles

  • Public Charter Grades KG-5

school-card-donut-146661
1
/10

  • Wayne Elementary School

  • 10633 Courville St

  • 2.93 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $33,116. Residents of Detroit, MI typically earn less than $35k each year. The majority of families are single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Michigan›Wayne County›Detroit›48215›1055 Philip St

This home is located at 1055 Philip St in Detroit, MI and zip code 48215 in the Lower East neighborhood. This 11,949 square foot home, which was built in 1928, sits on a 0.15 acre lot. Features: 20 bathrooms. It has been listed on Rocket Homes since November 26, 2024 and is currently priced at $950,000.

While more than 94 listings in Detroit, MI in November 2024 were sold above asking price, there were more than 55 listings sold at asking price, and more than 247 were sold below. Between October 2024 and November 2024, Detroit, MI real estate market has seen increase in the number of listings by 2%. In November 2024 median list price was $85,016 and the average listing age was 49 days.

From Rocket Homes Real Estate and based on county public records data.

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