For Sale
5731 Philip Street, Detroit, MI 48224
$50,000
MLS # 20261036217 (Realcomp)
3 beds1 bath799 sqftBuilt 19400.09 acres
1 / 10
Listing Description
A fantastic opportunity for homeowners and investors looking to secure property in one of Detroit’s steadily improving east-side neighborhoods! This charming property offers incredible potential with strong rental demand, excellent location advantages, and long-term upside for savvy buyers. The neighborhood continues to see revitalization and investment, making it an attractive option for both owner-occupants and investors seeking cash flow and appreciation potential. Enjoy spacious living areas, solid bones, and the opportunity to add your personal touch or maximize rental income. Whether you’re looking for a blank canvas for your next family home or your next renovation project, this property checks all the boxes.
Source: SparkMLS
About this home
3-bedroom, 1-bath, 799 sq ft home in Chandler Park in Detroit built in 1940.
Currently offered at $50,000 (about $63/sq ft).
Annual property taxes run approximately $963 ($80/month). Estimate is based on county assessor records and current millage rates; actual tax may vary with PRE status and recent assessment changes.
Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeResidential
Property SubtypeSingle Family Residence
Bedrooms3
Bathrooms1
Living Area799 sqft
Lot Size0.09 acres
Year Built1940
Stories2
Location
CityDetroit
Zip Code48224
CountyWayne
School DistrictDetroit
Construction & Systems
ConstructionBrick
Garage1 space
HeatingForced Air
WaterPublic
SewerPublic
Sale & Financing
Listed5/18/2026
Terms AcceptedCash
Source: SparkMLS
Tax Information
Annual Tax$639
Tax Year2025
State Equalized Value$15,000
Assessed Value$15,000
Parcel #21060497.
Source: Public Records
Legal Description
W PHILIP 188 THE PARTNER LAND SUB L42 P31 PLATS, W C R 21/612 35 X 106
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Katie Wheeler
Match Realty
Frequently Asked Questions about 5731 Philip Street, Detroit, MI 48224
What school district is 5731 Philip Street, Detroit, MI 48224 in?
Per MLS# 20261036217, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
Can I use FHA or VA financing for this property?
Per MLS# 20261036217, the seller has indicated this property accepts the following financing types: Cash. Financing acceptance is subject to change — confirm with the listing agent.
How much are property taxes for this home?
Per MLS# 20261036217, the most recent reported annual property tax for 5731 Philip Street, Detroit, MI 48224 is $1,179. Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Is 5731 Philip Street, Detroit, MI 48224 eligible for USDA financing?
Per USDA Rural Development boundary data, 5731 Philip Street, Detroit, MI 48224 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 5731 Philip Street, Detroit, MI 48224 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Sewer: Public. Water: Public. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Wayne County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
Map
Tax Estimate
$
Annual tax$963
Monthly$80
Millage rate64.1844 mills
Municipality: Detroit
School district: DETROIT CITY SCHOOL DISTRICT
County: Wayne
Estimate based on SEV for a new buyer (taxable value resets to SEV on transfer). Actual taxes may vary. MI Treasury PT Estimator
Mortgage Calculator
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Monthly payment$405
Principal & interest$324
Property taxes$80
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
5731 Philip Street, Detroit, MI 48224
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Neighborhood
Chandler Park
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Community
Detroit
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County
Wayne County
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