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2292 Richton Street

Detroit MI 48206

22
2104 sq. ft.
0.1 ac.
Multi-Family
Currently for sale - view listing

Overview

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. 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 and exit: Detroit investor-friendly loan products exist for small multifamily; current 30-year fixed quotes near 7% for approved credit may apply - shop multiple lenders for best leverage to boost cash-on-cash returns.

Features

22 bathrooms
2104 sq. ft. floor area
0.1 ac. lot size
Multi-Family

Happy sellers in Detroit

96%
96% 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 5 reviews in Detroit over the last 12 months.

Local market activity for multi families in Detroit

In the last 12 months, 87 multi families similar to 2292 Richton Street, have been sold.

This represents a 8% decrease in multi families sales when compared to the previous 12 months.

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