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Jenn Smart

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2292 Richton , Detroit, MI 48206
$189,888
Est. Payment: $989.53/mo
0 Bed
22 Bath
2104 Sqft
Status: active | Days on site: 42
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House 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. Complete renovation 2023 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 $250,000+ range. 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: 45 x 100 lot, paved road frontage, on-street parking and public utilities (water/sewer/cable available), simplifying management and lowering capital surprises. Solid building fundamentals: built 1923 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. Tax and cost advantages: property is assessed on a special act roll and exempt from ad valorem taxes through 12/30/2027, reducing near-term tax expense and improving net operating income. Current summer and winter tax figures are listed (Summer: $1,116; Winter: $666). 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. Quick due-diligence wins: clear public records (property ID W08I003749S) and mapped location in Detroit (zip 48206) enable fast underwriting and neighborhood comparables. Financing

Highlights

Listed by Richard Rosen , 248-650-3333 Fresh Start Homes , 248-413-5201. MiRealSource, Inc. mls logo

Property Type

Multi-Family

Lot/Acreage
0.1

Year Built

1923

County

Wayne

Area

Detroit (82001)

Neighborhood

Monterea

School District

Detroit City School District

Listing ID

61008579

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:22
  • Full Bathrooms:22
Above Ground Sq Ft:2104
Basement:Poured
Other:
  • Additional:Cable/Internet Avail.
Water:Public Water

Exterior Features

Lot Dimensions:45X100
Zoning:Multi-Family
Others:
  • Additional:Exterior Balcony
Parking Features:On Street
Principal Interest
$990
Taxes
$149

Home Price

$189,888

Loan Details

30 yrs
6.792%

Down Payment

20%
$37,978
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$989.53

Principal

Taxes

Principal Taxes HOA Total
Monthly $989.53 $148.50 $0.00 $1,138.03
Yearly $11,874.39 $1,782.00 $0.00 $13,656.39
Total $356,231.80 $53,460.00 $0.00 $409,691.80
Lender profile image
So-Crates Johnson
Dust, Wind, Dude
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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

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Data last updated: 2026-09-02T04:57:55.100Z

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