3934 Berkshire St · Detroit, MI 48224

$70,000

4 bd · 1.5 ba · 1,542 sqft · SingleFamily public records · 5 Days on market

Built 1928 4,356 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Coveted Morningside area ready for renovation. FOR SALE: 3 bedroom 1.5 bathroom Colonial with a basement and garage. Many fine features; fireplace, plaster walls, wood floors, iron handrails, leaded glass windows. Good roof and circuit breakers, glass block windows. Sold as-is. Located west off Mack Ave on the far east side. 4th bedroom does not have closet. THIS HOME IS OPCCUPIED BY OWNER PLEASE DO NOT APPROACH WITHOUT APPOINTMENT.

Key facts

• Plaster walls
• Wood floors
• Leaded glass windows

Tags

• FIREPLACE
• PLASTER WALLS
• WOOD FLOORS
• IRON HANDRAILS
• LEADED GLASS WINDOWS
• GLASS BLOCK WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 17.6% vs local median 10.1% 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: schools F, 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.
• Market conditions: Rents flat; 492 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 39% of the median local income ($45k/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 $484 of loan paydown is wiped out by about $2k 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 + 0.7% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 31y 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.
• Current owner paid $3k; list at $70k implies a 2233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.10% ✓
• Cap rate: 17.64%
• Cash-on-cash: 40.53%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $157,284
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4368 Buckingham Ave	0.29mi	3/1.0 (-1)	1,560 (+1%)	4mo	$92,000	$59	75
3619 Buckingham Ave	0.14mi	3/1.5 (-1)	1,374 (-11%)	1mo	$175,000	$127	70
1429 Maryland St	0.56mi	4/2.0	1,512 (-2%)	0mo	$270,000	$179	68
4310 Devonshire Rd	0.28mi	3/1.0 (-1)	1,650 (+7%)	5mo	$29,000	$18	64
1328 Lakepointe St	0.61mi	3/1.5 (-1)	1,611 (+4%)	3mo	$315,000	$196	56
4605 Devonshire Rd	0.37mi	3/1.0 (-1)	1,357 (-12%)	1mo	$139,000	$102	55
4643 Somerset Ave	0.43mi	3/1.5 (-1)	1,366 (-11%)	3mo	$80,000	$59	54
3930 Yorkshire Rd	0.61mi	3/1.0 (-1)	1,704 (+10%)	2mo	$275,000	$161	46
4657 Courville St	0.50mi	3/1.5 (-1)	1,765 (+14%)	5mo	$100,000	$57	43
4836 Kensington Ave	0.74mi	4/1.5	1,752 (+14%)	1mo	$195,000	$111	42
5050 Somerset Ave	0.66mi	3/1.0 (-1)	1,356 (-12%)	1mo	$84,900	$63	41
5211 Haverhill St	0.74mi	3/1.5 (-1)	1,750 (+14%)	4mo	$55,000	$31	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 34.4%
• Equity multiple: 2.41×
• Total profit: $27,567
• Equity at exit: $10,437

10-year hold

• IRR: 40.0%
• Equity multiple: 4.34×
• Total profit: $65,551
• Equity at exit: $6,052

Cash invested: $19,600 (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 48224

• Rents YoY: 0.7%
• Active inventory: 492
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$367
• Tax from tax record: −$103 /mo · $1,239/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $662

Break-even live

Break-even rent $632

Max offer price $70,000

Occupancy floor 50%

Sensitivity live

Price	-10% $702	-5% $682	+0% $662	+5% $642	+10% $622
Rent	-10% $546	-5% $604	+0% $662	+5% $720	+10% $778
Rate	-1.0pp $697	-0.5pp $680	base $662	+0.5pp $644	+1.0pp $625

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	18d	1	0.13mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	25d	1	0.16mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	44d	1	0.38mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.51mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.79mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.79mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.91mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	16d	1	1.04mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	18d	1	1.07mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	1.08mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	6d	1	1.26mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	44d	1	1.29mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	44d	1	1.40mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	1.43mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	1.43mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	25d	1	1.46mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	23d	1	1.46mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	44d	1	1.49mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	1.50mi

Listing history 18 events

1. 2026-02-18
   status Pending

   Show marketing remark (436 chars)

   Coveted Morningside area ready for renovation. FOR SALE: 3 bedroom 1.5 bathroom Colonial with a basement and garage. Many fine features; fireplace, plaster walls, wood floors, iron handrails, leaded glass windows. Good roof and circuit breakers, glass block windows. Sold as-is. Located west off Mack Ave on the far east side. 4th bedroom does not have closet. THIS HOME IS OPCCUPIED BY OWNER PLEASE DO NOT APPROACH WITHOUT APPOINTMENT.

2. 2026-02-18
   status Pending 436-char remark

   Show marketing remark (436 chars)

   Coveted Morningside area ready for renovation. FOR SALE: 3 bedroom 1.5 bathroom Colonial with a basement and garage. Many fine features; fireplace, plaster walls, wood floors, iron handrails, leaded glass windows. Good roof and circuit breakers, glass block windows. Sold as-is. Located west off Mack Ave on the far east side. 4th bedroom does not have closet. THIS HOME IS OPCCUPIED BY OWNER PLEASE DO NOT APPROACH WITHOUT APPOINTMENT.

3. 2026-02-13
   listed $70,000 Active

   Show marketing remark (436 chars)

   Coveted Morningside area ready for renovation. FOR SALE: 3 bedroom 1.5 bathroom Colonial with a basement and garage. Many fine features; fireplace, plaster walls, wood floors, iron handrails, leaded glass windows. Good roof and circuit breakers, glass block windows. Sold as-is. Located west off Mack Ave on the far east side. 4th bedroom does not have closet. THIS HOME IS OPCCUPIED BY OWNER PLEASE DO NOT APPROACH WITHOUT APPOINTMENT.

4. 2026-02-13
   listed $70,000 Active 436-char remark

   Show marketing remark (436 chars)

   Coveted Morningside area ready for renovation. FOR SALE: 3 bedroom 1.5 bathroom Colonial with a basement and garage. Many fine features; fireplace, plaster walls, wood floors, iron handrails, leaded glass windows. Good roof and circuit breakers, glass block windows. Sold as-is. Located west off Mack Ave on the far east side. 4th bedroom does not have closet. THIS HOME IS OPCCUPIED BY OWNER PLEASE DO NOT APPROACH WITHOUT APPOINTMENT.

5. 2015-08-13
   soldstatus $3,000 Sold 94-char remark

   Show marketing remark (94 chars)

   BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

6. 2015-08-13
   soldstatus $3,000 Closed

   Show marketing remark (94 chars)

   BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

7. 2015-08-13
   soldstatus $3,000

   Show marketing remark (94 chars)

   BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

8. 2015-08-06
   status Pending

   Show marketing remark (94 chars)

   BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

9. 2015-08-06
   historical 94-char remark

   Show marketing remark (94 chars)

   BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

10. 2015-08-06
    historical

    Show marketing remark (94 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

11. 2015-08-04
    listed $3,800 Active

    Show marketing remark (94 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

12. 2015-08-04
    listed $3,800 Active 94-char remark

    Show marketing remark (94 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

13. 2015-08-04
    listed $3,800

    Show marketing remark (94 chars)

    BUNGALOW HOME, WITH 3 BEDROOMS, 1 FULL BATH, KITCHEN, LIVING ROOM, BASEMENT, AND 2 CAR GARAGE.

14. 2004-10-18
    soldstatus $46,000
15. 1995-12-18
    soldstatus $44,400
16. 1995-12-11
    soldstatus $44,400
17. 1995-09-29
    historical
18. 1995-09-18
    listed $43,900

ⓘ 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: $1,239 · $103/mo
• Projected year-2 tax: $1,239 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,643
• − Mortgage interest: −$3,921
• − Property taxes: −$1,239
• − Insurance: −$350
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$2,036
• Taxable income: $7,274
• Est. tax owed @ 24.0%: −$1,746
• After-tax cash flow: $6,198/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+59.5% since first listed

18 events — show timeline

• 2026-02-18 Pending — REALCOMP
• 2026-02-18 Pending — MiRealSource-MiMLS
• 2026-02-13 Listed $70,000 MiRealSource-MiMLS
• 2026-02-13 Listed $70,000 REALCOMP
• 2015-08-13 Sold (MLS) $3,000 MiRealSource-MiMLS
• 2015-08-13 Sold (MLS) $3,000 MiRealSource-MiMLS
• 2015-08-13 Sold (MLS) $3,000 REALCOMP
• 2015-08-06 Pending — MiRealSource-MiMLS
• 2015-08-06 Listing Removed — REALCOMP
• 2015-08-06 Listing Removed — MiRealSource-MiMLS
• 2015-08-04 Listed $3,800 MiRealSource-MiMLS
• 2015-08-04 Listed $3,800 REALCOMP
• 2015-08-04 Listed $3,800 MiRealSource-MiMLS
• 2004-10-18 Sold (Public Records) $46,000 Public Records
• 1995-12-18 Sold (Public Records) $44,400 Public Records
• 1995-12-11 Sold (MLS) $44,400 MiRealSource-MiMLS
• 1995-09-29 Listing Removed — MiRealSource-MiMLS
• 1995-09-18 Listed $43,900 MiRealSource-MiMLS

Property tax history

-0.7%/yr

Latest (2025): $1,239 · -55.4% YoY. Source: county tax records.