MI > Detroit
Detroit, MI 48224,5025 Somerset Avenue
Detroit, MI 48224,5025 Somerset Avenue
Detroit, MI 48224,5025 Somerset Avenue
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$174,900
Est. payment /mo
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2 Baths
4,791 Sqft Lot
Active Under Contract

5025 Somerset Avenue Detroit, MI 48224

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Chris Buckely

Chris Buckely

+1(312) 313-5553

UPDATED:

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

Acres 0.11

Lot Dimensions 40X120

Source Realcomp

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

Direction Warren Rd between Alter and Outer Drive

Interior

Heating Forced Air

Exterior

View Y/N No

Building

Sewer Public

Water Public

Structure Type Brick,Vinyl Siding

Schools

School District Detroit

Others

Tax ID 21067519

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by KW Metro

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agent

Chris Buckely

IL/IN/MI Managing Broker | License ID: IN- RB17001753 | IL- 477013311

+1(312) 313-5553

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5025 Somerset Avenue

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