$199,888

2292 Richton Street, Detroit, MI 48206

  • 22 baths |
  • 2,104 sqft
  • Property Icon Duplex
  • Property Year Built Icon Built in 1923
  • Property Lot Size Icon4,356sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $95/sqft
  • Property List Date Icon Listed 14 days ago

Property 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

Listing Status:
Active
Date Added:
July 6, 2026
Data Last Updated:
July 21, 2026 at 7:45AM
Listing Office:
Fresh Start Homes : 248-413-5201
Listing Agent:
Richard Rosen : 248-650-3333
MLS ID:
61008579
  • General: Cable/Internet Avail.
  • Appliances: Gas Water Heater
  • Basement: Poured
  • Heating: Forced Air
  • General: Balcony
  • Parking: On Street
  • General: Vinyl SidingWood SidingTwoBasement
  • Road/Access: Paved
  • Originating MLS: MiRealSource
  • School District: Detroit City School District
  • County: Wayne
  • Zoning: PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2027. N RICHTON E 15' 79 78 MONTEREA SUB L28 P67 PLATSW C R 8/137 45 X 100
  • Water: Public
  • Source: MiRealSource

This listing courtesy of Richard Rosen , Fresh Start Homes

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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