4869 Courville St · Detroit, MI 48224

$60,000

3 bd · 1.5 ba · 1,832 sqft · SingleFamily public records · 35 Days on market

Built 1927 4,792 sqft lot $33/sqft · 67% below area

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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

Residing at 4869 Courville ST in Detroit, MI, stands a distinctive single-family residence, a testament to the architectural character of 1927. This single-family residence presents an inviting floor plan, thoughtfully designed to offer distinct zones for living. Within its structure are three dedicated sleeping quarters, each providing a personal haven for quiet reflection and repose. The arrangement of these spaces promotes an atmosphere of individual comfort and privacy throughout the dwelling. This Detroit residence, with its historical foundations and thoughtful design, presents a unique opportunity for sophisticated living.

Key facts

• 4,792 sq ft lot
• Built 1927
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 37% 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 $415 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y ago; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 2.29% ✓
• Cap rate: 16.30%
• Cash-on-cash: 35.75%
• DSCR: 2.59
• GRM: 3.6

CMA / ARV

• ARV (median comp): $159,702
• List price: $60,000
• Delta: -62.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4830 Courville St	0.05mi	4/1.5 (+1)	1,878 (+2%)	2mo	$119,000	$63	87
5200 Bedford St	0.21mi	3/1.5	1,718 (-6%)	1mo	$159,900	$93	79
4836 Kensington Ave	0.24mi	4/1.5 (+1)	1,752 (-4%)	1mo	$195,000	$111	76
5236 Bedford St	0.24mi	3/1.5	1,670 (-9%)	1mo	$159,900	$96	74
4331 Balfour Rd	0.53mi	3/2.0	1,793 (-2%)	1mo	$160,000	$89	69
5256 Harvard Rd	0.55mi	3/1.5	1,923 (+5%)	1mo	$207,500	$108	66
4384 Grayton St	0.48mi	3/2.0	1,952 (+7%)	1mo	$272,500	$140	64
5541 Grayton St	0.53mi	4/2.0 (+1)	1,730 (-6%)	0mo	$200,000	$116	58
4861 Nottingham Rd	0.56mi	2/2.0 (-1)	1,918 (+5%)	1mo	$75,000	$39	58
5934 Haverhill St	0.63mi	3/3.0	1,761 (-4%)	1mo	$150,000	$85	58
5205 Cadieux Rd	0.56mi	3/2.0	1,992 (+9%)	0mo	$108,000	$54	57
3930 Yorkshire Rd	0.60mi	3/1.0	1,704 (-7%)	2mo	$275,000	$161	57

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: 28.4%
• Equity multiple: 2.14×
• Total profit: $19,213
• Equity at exit: $8,946

10-year hold

• IRR: 34.3%
• Equity multiple: 3.75×
• Total profit: $46,262
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,373 high
• Mortgage (P&I): −$315
• Tax from tax record: −$244 /mo · $2,932/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $500

Break-even live

Break-even rent $739

Max offer price $60,000

Occupancy floor 59%

Sensitivity live

Price	-10% $711	-5% $691	+0% $500	+5% $484	+10% $467
Rent	-10% $392	-5% $446	+0% $500	+5% $555	+10% $609
Rate	-1.0pp $531	-0.5pp $516	base $500	+0.5pp $485	+1.0pp $469

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5050 Three Mile Dr Detroit, MI	2.0	1.0	2127	$1,150	$0.54	44d	1	0.10mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.32mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.32mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.45mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	44d	1	0.68mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	18d	1	0.71mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	18d	1	0.72mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	6d	1	0.77mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	44d	1	0.85mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	44d	1	0.89mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	44d	1	0.92mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	44d	1	0.95mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	18d	1	0.99mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	44d	1	1.07mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	1.08mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	1.12mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	18d	1	1.14mi
5944 Marseilles St Detroit, MI	3.0	1.0	1910	$1,300	$0.68	18d	1	1.21mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	1.25mi
1334 Maryland St Grosse Pointe Park, MI	2.0	1.0	1786	$1,200	$0.67	19d	1	1.26mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	18d	1	1.40mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	1.42mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	1.44mi

Listing history 27 events

1. 2026-05-08
   status Pending 637-char remark

   Show marketing remark (637 chars)

   Residing at 4869 Courville ST in Detroit, MI, stands a distinctive single-family residence, a testament to the architectural character of 1927. This single-family residence presents an inviting floor plan, thoughtfully designed to offer distinct zones for living. Within its structure are three dedicated sleeping quarters, each providing a personal haven for quiet reflection and repose. The arrangement of these spaces promotes an atmosphere of individual comfort and privacy throughout the dwelling. This Detroit residence, with its historical foundations and thoughtful design, presents a unique opportunity for sophisticated living.

2. 2026-05-08
   status Pending 637-char remark

   Show marketing remark (637 chars)

   Residing at 4869 Courville ST in Detroit, MI, stands a distinctive single-family residence, a testament to the architectural character of 1927. This single-family residence presents an inviting floor plan, thoughtfully designed to offer distinct zones for living. Within its structure are three dedicated sleeping quarters, each providing a personal haven for quiet reflection and repose. The arrangement of these spaces promotes an atmosphere of individual comfort and privacy throughout the dwelling. This Detroit residence, with its historical foundations and thoughtful design, presents a unique opportunity for sophisticated living.

3. 2026-04-18
   price $60,000 637-char remark

   Show marketing remark (637 chars)

   Residing at 4869 Courville ST in Detroit, MI, stands a distinctive single-family residence, a testament to the architectural character of 1927. This single-family residence presents an inviting floor plan, thoughtfully designed to offer distinct zones for living. Within its structure are three dedicated sleeping quarters, each providing a personal haven for quiet reflection and repose. The arrangement of these spaces promotes an atmosphere of individual comfort and privacy throughout the dwelling. This Detroit residence, with its historical foundations and thoughtful design, presents a unique opportunity for sophisticated living.

4. 2026-04-18
   price $60,000 637-char remark

   Show marketing remark (637 chars)

   Residing at 4869 Courville ST in Detroit, MI, stands a distinctive single-family residence, a testament to the architectural character of 1927. This single-family residence presents an inviting floor plan, thoughtfully designed to offer distinct zones for living. Within its structure are three dedicated sleeping quarters, each providing a personal haven for quiet reflection and repose. The arrangement of these spaces promotes an atmosphere of individual comfort and privacy throughout the dwelling. This Detroit residence, with its historical foundations and thoughtful design, presents a unique opportunity for sophisticated living.

5. 2026-03-31
   listed $80,000 Active 637-char remark

   Show marketing remark (637 chars)

   Residing at 4869 Courville ST in Detroit, MI, stands a distinctive single-family residence, a testament to the architectural character of 1927. This single-family residence presents an inviting floor plan, thoughtfully designed to offer distinct zones for living. Within its structure are three dedicated sleeping quarters, each providing a personal haven for quiet reflection and repose. The arrangement of these spaces promotes an atmosphere of individual comfort and privacy throughout the dwelling. This Detroit residence, with its historical foundations and thoughtful design, presents a unique opportunity for sophisticated living.

6. 2026-03-31
   listed $80,000 Active 637-char remark

   Show marketing remark (637 chars)

   Residing at 4869 Courville ST in Detroit, MI, stands a distinctive single-family residence, a testament to the architectural character of 1927. This single-family residence presents an inviting floor plan, thoughtfully designed to offer distinct zones for living. Within its structure are three dedicated sleeping quarters, each providing a personal haven for quiet reflection and repose. The arrangement of these spaces promotes an atmosphere of individual comfort and privacy throughout the dwelling. This Detroit residence, with its historical foundations and thoughtful design, presents a unique opportunity for sophisticated living.

7. 2025-10-22
   historical
8. 2025-10-22
   historical
9. 2025-08-07
   price $136,000
10. 2025-08-07
    price $136,000
11. 2025-07-09
    listed $159,000 Active
12. 2025-07-09
    listed $159,000 Active
13. 2022-05-05
    soldstatus $139,000
14. 2019-08-20
    historical
15. 2019-04-26
    status Pending
16. 2019-04-17
    historical
17. 2019-04-06
    status Pending
18. 2019-04-05
    status Pending
19. 2019-04-04
    historical
20. 2019-03-18
    status Active
21. 2019-03-18
    status Active
22. 2019-02-06
    status Pending
23. 2019-02-06
    status Pending
24. 2018-10-18
    listed $75,000 Active
25. 2018-10-18
    listed $75,000 Active
26. 2009-01-07
    soldstatus $9,900
27. 2008-10-13
    listed $9,900

ⓘ 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: $2,932 · $244/mo
• Projected year-2 tax: $2,932 · $244/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 ≥95°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: $16,473
• − Mortgage interest: −$3,361
• − Property taxes: −$2,932
• − Insurance: −$300
• − Repairs & maintenance: −$1,318
• − Management: −$1,318
• − Depreciation: −$1,745
• Taxable income: $5,499
• Est. tax owed @ 24.0%: −$1,320
• After-tax cash flow: $4,686/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

+506.1% since first listed

27 events — show timeline

• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-05-08 Pending — REALCOMP
• 2026-04-18 Price Changed $60,000 MiRealSource-MiMLS
• 2026-04-18 Price Changed $60,000 REALCOMP
• 2026-03-31 Listed $80,000 REALCOMP
• 2026-03-31 Listed $80,000 MiRealSource-MiMLS
• 2025-10-22 Listing Removed — MiRealSource-MiMLS
• 2025-10-22 Listing Removed — REALCOMP
• 2025-08-07 Price Changed $136,000 MiRealSource-MiMLS
• 2025-08-07 Price Changed $136,000 REALCOMP
• 2025-07-09 Listed $159,000 REALCOMP
• 2025-07-09 Listed $159,000 MiRealSource-MiMLS
• 2022-05-05 Sold (Public Records) $139,000 Public Records
• 2019-08-20 Listing Removed — REALCOMP
• 2019-04-26 Pending — REALCOMP
• 2019-04-17 Listing Removed — REALCOMP
• 2019-04-06 Pending — MiRealSource-MiMLS
• 2019-04-05 Pending — REALCOMP
• 2019-04-04 Listing Removed — MiRealSource-MiMLS
• 2019-03-18 Relisted — MiRealSource-MiMLS
• 2019-03-18 Relisted — REALCOMP
• 2019-02-06 Pending — MiRealSource-MiMLS
• 2019-02-06 Pending — REALCOMP
• 2018-10-18 Listed $75,000 MiRealSource-MiMLS
• 2018-10-18 Listed $75,000 REALCOMP
• 2009-01-07 Sold (MLS) $9,900 REALCOMP
• 2008-10-13 Listed $9,900 REALCOMP

Property tax history

+4.1%/yr

Latest (2025): $2,932 · -54.5% YoY. Source: county tax records.