3828 Scovel Pl · Detroit, MI 48208

$15,000

3 bd · 1.0 ba · 1,273 sqft · Townhouse public records · 622 Days on market

Built 1905 1,307 sqft lot $12/sqft · 71% below area ↓ 40% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors check out this latest offering from the Detroit Land Bank Authority! Two residential homes for the price of one! This bundle includes 3828 S Scovel Place and 3826 S Scovel Place. These colonial-style row houses offer a fantastic investment opportunity but are in distressed condition, ideal for those looking to renovate and add value. Each residence features 3 bedrooms, 1 bathroom, and approximately 1,200 square feet of living space. Located near major freeways, these homes offer easy access to the city. With the right vision, this property can be transformed into a profitable investment or restored to its former charm. Don’t miss out on this chance to create something special! This property is being sold as is. Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests.

Key facts

• 1,307 sq ft lot
• Built 1905
• Listed 622 days

Tags

• COLONIAL-STYLE ROW HOUSES
• LOCATED NEAR MAJOR FREEWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $15k.

Deal economics

• At list price, monthly cash flow is $977 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• Cap rate 84.4% vs local median 10.0% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sampsonwebber Leadership Academy (350 students, 95% FRL); Northwestern High School (math 10% / reading 10%, grade F, #659 of 713 statewide, top 97%, 358 students, 88% FRL) — zoned schools at 92% FRL track the district average.
• Market conditions: 186 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 45% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 622 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $13,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 622 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 9.05% ✓
• Cap rate: 84.45%
• Cash-on-cash: 279.13%
• DSCR: 13.42
• GRM: 0.9

CMA / ARV

• ARV (median comp): $52,364
• List price: $15,000
• Delta: -71.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 15.24×
• Total profit: $59,808
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 32.49×
• Total profit: $132,263
• Equity at exit: $1,297

Cash invested: $4,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48208

• Home prices YoY: -5.9%
• Active inventory: 186
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$79
• Tax from tax record: −$10 /mo · $120/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $977

Break-even live

Break-even rent $120

Max offer price $15,000

Occupancy floor 23%

Sensitivity live

Price	-10% $985	-5% $981	+0% $977	+5% $973	+10% $968
Rent	-10% $870	-5% $923	+0% $977	+5% $1,031	+10% $1,084
Rate	-1.0pp $985	-0.5pp $981	base $977	+0.5pp $973	+1.0pp $969

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4016 Hogarth St Unit 4018 Hogarth Lower Detroit, MI	2.0	1.0	1200	$1,100	$0.92	6d	1	0.40mi
3012 Lothrop Detroit, MI	2.0	1.0	1800	$1,300	$0.72	5d	1	0.44mi
4566 Seebaldt St Detroit, MI	2.0	1.0	1200	$1,250	$1.04	24d	1	0.50mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	46d	1	0.54mi
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	27d	1	0.60mi
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	24d	1	0.60mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	46d	1	0.63mi
6077 Linwood St Detroit, MI	2.0	1.0	1200	$2,000	$1.67	46d	1	0.64mi
1493 W Grand Blvd Detroit, MI	2.0	1.0	1250	$1,145	$0.92	46d	1	0.72mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	27d	1	0.73mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	27d	1	0.73mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	46d	1	0.78mi
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	19d	1	0.79mi
6144 16th St Detroit, MI	3.0	1.0	1284	$1,200	$0.93	46d	1	0.79mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	19d	1	0.85mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	19d	1	0.87mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	26d	1	0.89mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	27d	1	0.95mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	46d	1	1.00mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	46d	1	1.00mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	46d	1	1.00mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	46d	1	1.04mi
2531 Pingree St Unit 2 (FL 2) Detroit, MI	3.0	1.0	893	$1,100	$1.23	4d	1	1.06mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,453	$1.02	1d	1	1.14mi
6183 Hecla St Detroit, MI	3.0	1.0	1100	$1,700	$1.55	27d	1	1.18mi
4619 16th St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	5d	1	1.21mi
3759 Atkinson St Unit 2 Detroit, MI	2.0	1.0	919	$1,200	$1.31	27d	1	1.23mi
7340 Churchill St Unit 2 Detroit, MI	2.0	1.0	1046	$1,100	$1.05	27d	1	1.23mi
1800 W Bethune St Unit 1228665P Detroit, MI	2.0	1.0	904	$3,135	$3.47	46d	1	1.24mi
1974 Virginia Park St Detroit, MI	2.0	2.0	1200	$1,995	$1.66	46d	1	1.24mi
2463 Taylor St Detroit, MI	3.0	1.0	1350	$1,100	$0.81	46d	1	1.30mi
7640 Woodrow Wilson St Unit 1 Detroit, MI	3.0	1.5	1095	$1,400	$1.28	46d	1	1.33mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	27d	1	1.34mi
1710 Virginia Park St Detroit, MI	2.0	2.0	1350	$1,300	$0.96	7d	1	1.36mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	19d	1	1.37mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$995	$1.11	1d	1	1.39mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	6d	1	1.42mi
3998 15th St Unit 1 Detroit, MI	2.0	1.0	1200	$1,300	$1.08	46d	1	1.47mi

Listing history 18 events

1. 2026-06-22
   days on market $15,000 Active 622 DOM
2. 2026-06-21
   days on market $15,000 Active 621 DOM
3. 2026-06-18
   days on market $15,000 Active 618 DOM
4. 2026-06-17
   days on market $15,000 Active 617 DOM
5. 2026-06-15
   days on market $15,000 Active 615 DOM
6. 2026-06-13
   days on market $15,000 Active 613 DOM
7. 2026-06-13
   days on market $15,000 Active 612 DOM
8. 2026-06-09
   days on market $15,000 Active 609 DOM
9. 2026-06-08
   days on market $15,000 Active 608 DOM
10. 2026-06-07
    days on market $15,000 Active 607 DOM
11. 2026-06-04
    days on market $15,000 Active 604 DOM
12. 2026-06-03
    days on market $15,000 Active 603 DOM
13. 2026-06-01
    days on market $15,000 Active 601 DOM
14. 2026-05-31
    days on market $15,000 Active 600 DOM
15. 2024-10-08
    listed $15,000 Active 1114-char remark

    Show marketing remark (1107 chars)

    Attention Investors check out this latest offering from the Detroit Land Bank Authority! Two residential homes for the price of one! This bundle includes 3828 S Scovel Place and 3826 S Scovel Place. These colonial-style row houses offer a fantastic investment opportunity but are in distressed condition, ideal for those looking to renovate and add value. Each residence features 3 bedrooms, 1 bathroom, and approximately 1,200 square feet of living space. Located near major freeways, these homes offer easy access to the city. With the right vision, this property can be transformed into a profitable investment or restored to its former charm. Don't miss out on this chance to create something special! This property is being sold as is. Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests.

16. 2024-10-08
    listed $15,000 Active 1107-char remark

    Show marketing remark (1107 chars)

    Attention Investors check out this latest offering from the Detroit Land Bank Authority! Two residential homes for the price of one! This bundle includes 3828 S Scovel Place and 3826 S Scovel Place. These colonial-style row houses offer a fantastic investment opportunity but are in distressed condition, ideal for those looking to renovate and add value. Each residence features 3 bedrooms, 1 bathroom, and approximately 1,200 square feet of living space. Located near major freeways, these homes offer easy access to the city. With the right vision, this property can be transformed into a profitable investment or restored to its former charm. Don't miss out on this chance to create something special! This property is being sold as is. Please note that the DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests.

17. 2004-04-09
    historical
18. 2004-02-16
    listed $25,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $120 · $10/mo
• Projected year-2 tax: $176 · $15/mo
• Expected delta: +$56/yr (+$5/mo · 46.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,282
• − Mortgage interest: −$840
• − Property taxes: −$120
• − Insurance: −$75
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$436
• Taxable income: $12,205
• Est. tax owed @ 24.0%: −$2,929
• After-tax cash flow: $8,794/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 8,037
• Household income: $36,194
• Rent vs Own: 65.7% rent · 34.3% own
• Severe rent burden: 601.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5% Arabic 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.56%
• Current HPI: 168.8907
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

-40.0% since first listed

4 events — show timeline

• 2024-10-08 Listed $15,000 MiRealSource-MiMLS
• 2024-10-08 Listed $15,000 REALCOMP
• 2004-04-09 Listing Removed — REALCOMP
• 2004-02-16 Listed $25,000 REALCOMP

Property tax history

-12.9%/yr

Latest (2025): $120 · +0.0% YoY. Source: county tax records.