5957 Three Mile Dr

Detroit, MI 48224
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3 bd, 2 ba | 1,528 sqft | Built in 1931

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List Price
$175,000

Initial Investment

$47,688

Purchase Price

$175,000

Down Payment

25%

Rent

$1,170

Total Return

$41,684

Annualized Return

12.3%

Cap Rate

3.9%

Gross Yield

8.0%

Cash Flow

-$3,300

Appreciation

6.0%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

0

HOA

None

Flood Risk

Not Required

Welcome to Your Dream Home in Morningside!
Discover the charm and elegance of this beautifully renovated home at 5957 3 Mile Road, located in the heart of Detroit's desirable Morningside neighborhood. This property offers a perfect blend of classic charm and modern amenities, making it an ideal choice for discerning buyers.
Key Features:
First-Floor Laundry: Enjoy the convenience of a spacious first-floor laundry area, making household chores a breeze.
Natural Hardwood Floors: Admire the timeless beauty of natural hardwood floors throughout the home, providing warmth and character to every room.
1/2 Bathroom on the First Floor: This thoughtfully designed home includes a convenient half-bathroom on the main floor, perfect for guests and daily use.
Cozy Second-Floor Outdoor Porch: Relax and unwind on the charming second-floor porch, a perfect spot for morning coffee or evening gatherings.
Central Air Ready: Stay cool and comfortable year-round with a central air-ready unit, offering modern comfort and efficiency.
2.5 Car Garage: Benefit from ample storage and parking space with a 2.5 car garage, ideal for vehicles, tools, and hobbies.
Additional Highlights:
Spacious Living Areas: The open and airy floor plan creates a welcoming atmosphere, perfect for entertaining and family living.
Updated Kitchen: The kitchen features granite counters, soft touch cabinets, modern appliances and plenty of counter space, catering to both novice and experienced chefs.
Generous Bedrooms: Well-sized bedrooms offer comfort and privacy, with plenty of closet space for storage.
Location, Location, Location!
Situated in the vibrant Morningside neighborhood, this home is close to local parks, schools, shopping, and dining. Enjoy the convenience of urban living with the tranquility of a well-established community.

See more in Analysis
Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852

Annual Financial Highlights

Expected Rent

$13,338

Expenses

-$2,374

Property Taxes

-$4,750

Loan Payments

-$9,514

Net Cash Flow

-$3,300

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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Listing Courtesy of:Marvis Burns
Agent License 6502432407
Marvis Burns
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #20240056526
Last Updated: 06/11/2025 23:06
Disclaimer: The accuracy of this information is deemed reliable but not guaranteed or warrantied. All information should be independently verified before making purchase decisions. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The content relating to real estate for sale on this website appears courtesy of the Multiple Listing Service (MLS) listed as the “Source” on this page. Individual listings appear with the permission of the real estate brokerage identified under the “Listing Agent” on this page.