REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 204,900
Est. payment /mo
New
2292 Richton Street Detroit, MI 48206
22 Baths
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261045009
Year Built 1923
Annual Tax Amount $1,782
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 45X100
Source Realcomp
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
Location
State MI
County Wayne
Zoning Multi-Family
Direction West off 14th & North of Chicago Blvd
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Public
Structure Type Vinyl Siding,Wood Siding
Schools
School District Detroit
Others
Tax ID W08I003749S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Fresh Start Homes