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16242 Cheyenne Street

Detroit MI 48235

3
1
1718 sq. ft.
0.08 ac.
Single-Family
Currently for sale - view listing

Overview

INVESTMENT OPPORTUNITY IN HARMONY VILLAGE! This well-maintained two-story Colonial, featuring a brick and vinyl siding exterior, offers an opportunity for an investor looking for an income-producing property with property management already in place. The property is currently tenant occupied on a month-to-month lease agreement, with the tenant preference to stay. Current rental income is $1,250 per month, and managed by a professional property management company. Located in Harmony Village, north of Puritan and west of Meyers, the property is conveniently situated near Renaissance High School, Cornerstone Adams-Young Elementary, DMC Sinai-Grace Hospital, shopping, dining, transportation, and other everyday conveniences. Recent improvements completed in 2025 included: renovated kitchen and bathroom and replacement of the main sewer line with a backflow preventer. The property is rent-ready and move-in ready, offering the opportunity to purchase a turnkey investment.

Features

3 bedrooms
1 bathroom
1718 sq. ft. floor area
0.08 ac. lot size
Single-Family

Property history for 16242 Cheyenne Street

2022
Sold
$70,000
16 Sep 2022 by Terry Thomas, of Front Page Properties
2021
Sold
$53,000
04 Jun 2021 by Mike Sobh, of REMAX Leading Edge | Dearborn Heights
2016
Sold
$12,500
17 Jun 2016 by Tracey Johnson, of Downtown Realty

Happy sellers in Detroit

91%
91% of sellers in Detroit reported that their sale price either exceeded or met their price expectations.

Detroit stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 11 reviews in Detroit over the last 12 months.

Local market activity for 3 bedroom single-family properties in Detroit

In the last 12 months, 348 three-bedroom single-family properties similar to 16242 Cheyenne Street, have been sold.

This represents a 34% increase in three-bedroom single-family properties sales when compared to the previous 12 months.

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