15865 Cloverlawn Street new Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48238
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,429 sqft
Price per Sqft $34
Subdivision University Manor
MLS Listing ID 20251050262
Style Duplex
Bedrooms 2
Full Baths 2
Year Built 1927
Annual Tax Amount $2,826
Lot Size 3,484 Sqft
Acres 0.08
Lot Dimensions 35X100
Property Sub-Type Duplex
Source Realcomp II Ltd
Property Description
Investor special in Detroit's up-and-coming Fitzgerald neighborhood! This solid brick duplex at 15865 Cloverlawn St features two 2-bedroom, 1-bath units located directly across the street from Mary McLeod Bethune Academy and just minutes from University of Detroit Mercy and Marygrove College. The property has a NEWER ROOF, approximately three years old, and is currently fully occupied with a month-to-month tenant paying $950 per month to occupy both units, providing immediate income with room to increase rents. Each unit offers a spacious layout and strong bones, with plenty of potential for value-add updates to maximize returns. Market rents in the area average $800–$900 per unit, offering a great opportunity for investors to improve cash flow through light renovations or repositioning. The Fitzgerald neighborhood has benefited from significant revitalization efforts, including the $4 million Fitzgerald Revitalization Project, which continues to attract investment and new development. This property offers an affordable entry point into a growing neighborhood with long-term appreciation potential, perfect for both new and experienced investors. At the current rent, the duplex still offers a respectable ~10.8% cap rate. Once re-rented at market levels, the property becomes a cash-flow powerhouse, with a 23–27% cap rate, depending on the rent achieved. This highlights a major value-add opportunity for an investor to buy based on current performance but realize significantly higher returns once the property is repositioned.
Location
State MI
County Wayne
Area Det 6-Tire - Grnfld - Livernois
Zoning Residential
Direction South of Puritan Ave, East of Wyoming Ave
Rooms
Basement Unfinished
Interior
Hot Water Natural Gas
Heating Forced Air
Fireplace no
Heat Source Natural Gas
Exterior
Porch Porch
Road Frontage Paved
Garage no
Private Pool No
Building
Foundation Basement
Sewer Sewer at Street
Water Water at Street
Architectural Style Duplex
Level or Stories 2 Story
Structure Type Brick,Vinyl
Schools
School District Detroit
Others
Pets Allowed Yes
Tax ID W16I031286S
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional