5025 Somerset Avenue Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48224
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 20251003378
Year Built 1929
Annual Tax Amount $3,567
Lot Size 4,791 Sqft
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 roofNew PVC plumbing and updated electricalNew 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: $2,000With 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 enjoymentLocated minutes from Downtown Detroit, major freeways, and local shopping, Vacant and ready for immediate occupancy or lease-upWhether 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 Wayne County - 100
Zoning Residential
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Brick,Vinyl Siding
Schools
School District Detroit
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional