2676 Sturtevant St · Detroit, MI 48206

$309,000

8 bd · 4.5 ba · 4,308 sqft · MultiFamily public records · 1 Days on market

Built 1923 6,098 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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Minutes from Detroit's New Center redevelopment, this fully rehabbed 1923 brick quadruplex offers four updated 2-bed/1-bath units with new kitchens and baths, refinished floors and fresh paint. Exterior improvements include repaired windows, siding and porches, a roof that's roughly 3–5?years old, and cleaned-up landscaping. All major systems - HVAC, four new hot-water tanks and upgraded electrical - have been addressed, two of the units are currently occupied, and the building could easily bring in around $5,000 per month when fully leased. Schedule your showing today to seize this turnkey opportunity! FELTON ADAMS

Key facts

• Fully rehabbed
• Updated baths
• Refinished floors

Tags

• FULLY REHABBED
• UPDATED KITCHENS
• UPDATED BATHS
• REFINISHED FLOORS
• REPAIRED WINDOWS
• CLEANED-UP LANDSCAPING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two-story building; Zoned for multi-family
• Construction: Brick construction; Block foundation; Built on two levels
• Exterior features: Outdoor pool; Paved road access; Pets allowed

Interior

• Bathrooms: 4 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $309k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $408/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $309k).
• Cap rate 12.6% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 rising fast (+5.2%/yr); 271 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $4,590/mo this rent would consume 122% of the median local household income ($45k/yr) (locally 646% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 + 5.2% rent growth), your $87k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 15 sale attempts since 19y 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 $152k; list at $309k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $309,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.49% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.62%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $176,628
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2676 Sturtevant St	0.00mi	8/4.5	4,308 (0%)	9mo	$152,500	$35	92
2925-2927 W Buena Vista St	0.24mi	8/4.0	4,006 (-7%)	2mo	$165,000	$41	74
2310 Glendale St	0.36mi	8/4.5	4,158 (-4%)	8mo	$199,900	$48	70
2675 Richton St	0.16mi	8/5.0	4,870 (+13%)	0mo	$310,000	$64	68
2683 Sturtevant St	0.04mi	8/5.0	4,876 (+13%)	8mo	$200,000	$41	67
2296 W Buena Vista St	0.41mi	8/4.0	4,184 (-3%)	21mo	$299,000	$71	57
2945 W Grand St	0.51mi	8/4.0	4,144 (-4%)	14mo	$306,000	$74	56
2303 W Grand St	0.59mi	8/4.0	3,944 (-8%)	2mo	$37,000	$9	55
2302 W Grand St	0.62mi	8/4.0	3,828 (-11%)	3mo	$25,000	$7	48
3224 Monterey St	0.32mi	8/6.0	4,880 (+13%)	20mo	$300,000	$61	40
2480 Calvert St	0.66mi	8/3.0	3,750 (-13%)	8mo	$110,000	$29	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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.74×
• Total profit: $64,190
• Equity at exit: $46,073

10-year hold

• IRR: 27.8%
• Equity multiple: 3.71×
• Total profit: $234,176
• Equity at exit: $26,717

Cash invested: $86,520 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 22.4×

Monthly cashflow live

• Estimated rent: $4,590 high
• Mortgage (P&I): −$1,620
• Tax from tax record: −$246 /mo · $2,948/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$964
• Net cashflow: $1,631

Break-even live

Break-even rent $2,525

Max offer price $309,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,806	-5% $1,719	+0% $1,631	+5% $1,544	+10% $1,456
Rent	-10% $1,269	-5% $1,450	+0% $1,631	+5% $1,813	+10% $1,994
Rate	-1.0pp $1,787	-0.5pp $1,710	base $1,631	+0.5pp $1,551	+1.0pp $1,470

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,588
Total (4 units)			$4,590

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 620-char remark
2. 2026-06-19
   listed $309,000 Active 1 DOM

ⓘ 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: $2,948 · $246/mo
• Projected year-2 tax: $3,853 · $321/mo
• Expected delta: +$905/yr (+$75/mo · 30.7%)

ⓘ 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: $55,080
• − Mortgage interest: −$17,309
• − Property taxes: −$2,948
• − Insurance: −$1,545
• − Repairs & maintenance: −$4,406
• − Management: −$4,406
• − Depreciation: −$8,989
• Taxable income: $15,476
• Est. tax owed @ 24.0%: −$3,714
• After-tax cash flow: $15,861/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

+186.1% since first listed

50 events — show timeline

• 2026-06-18 Listed $309,000 REALCOMP
• 2026-06-18 Listed $309,000 MiRealSource-MiMLS
• 2026-04-21 Listing Removed — MiRealSource-MiMLS
• 2026-04-09 Price Changed $334,900 MiRealSource-MiMLS
• 2026-04-09 Price Changed $334,900 REALCOMP
• 2026-04-03 Price Changed $349,999 MiRealSource-MiMLS
• 2026-04-02 Price Changed $349,999 REALCOMP
• 2026-03-23 Relisted — MiRealSource-MiMLS
• 2026-03-23 Relisted — REALCOMP
• 2026-03-09 Pending — MiRealSource-MiMLS
• 2026-03-09 Pending — REALCOMP
• 2026-03-01 Contingent — MiRealSource-MiMLS
• 2026-03-01 Contingent — REALCOMP
• 2026-02-23 Listed $360,000 REALCOMP
• 2026-02-22 Listed $360,000 MiRealSource-MiMLS
• 2025-10-01 Sold (Public Records) $152,500 Public Records
• 2025-09-18 Sold (MLS) $152,500 MiRealSource-MiMLS
• 2025-09-18 Sold (MLS) $152,500 REALCOMP
• 2025-08-19 Pending — MiRealSource-MiMLS
• 2025-08-19 Pending — REALCOMP
• 2025-08-11 Price Changed $175,000 MiRealSource-MiMLS
• 2025-08-11 Price Changed $175,000 REALCOMP
• 2025-08-05 Price Changed $185,000 MiRealSource-MiMLS
• 2025-08-05 Price Changed $185,000 REALCOMP
• 2025-07-22 Listed $195,000 MiRealSource-MiMLS
• 2025-07-22 Listed $195,000 REALCOMP
• 2024-08-01 Listing Removed — MiRealSource-MiMLS
• 2024-07-31 Listing Removed — REALCOMP
• 2024-06-04 Listed $189,900 MiRealSource-MiMLS
• 2024-06-04 Listed $189,900 REALCOMP
• 2024-06-02 Coming Soon — MiRealSource-MiMLS
• 2024-06-02 Coming Soon — REALCOMP
• 2024-04-30 Listing Removed — MiRealSource-MiMLS
• 2024-04-30 Listing Removed — REALCOMP
• 2024-04-24 Price Changed $199,750 MiRealSource-MiMLS
• 2024-04-24 Price Changed $199,750 REALCOMP
• 2024-04-03 Price Changed $207,900 MiRealSource-MiMLS
• 2024-04-02 Price Changed $207,900 REALCOMP
• 2024-03-09 Listed $219,900 MiRealSource-MiMLS
• 2024-03-09 Listed $219,900 REALCOMP
• 2024-03-03 Coming Soon — MiRealSource-MiMLS
• 2024-03-03 Coming Soon — REALCOMP
• 2023-09-22 Rental Removed $795 LEASESTAR
• 2023-08-30 Listed for Rent $795 LEASESTAR
• 2023-07-16 Rental Removed $795 LEASESTAR
• 2023-07-13 Listed for Rent $795 LEASESTAR
• 2022-12-13 Sold (Public Records) $205,000 Public Records
• 2021-12-08 Sold (Public Records) $125,000 Public Records
• 2007-12-31 Listing Removed — MiRealSource-MiMLS
• 2007-06-27 Listed $108,000 MiRealSource-MiMLS

Property tax history

+1.9%/yr

Latest (2025): $2,948 · -54.5% YoY. Source: county tax records.