2660 W Vernor Hwy · Detroit, MI 48216

$129,900

4 bd · 1.5 ba · 1,528 sqft · SingleFamily public records · 10 Days on market

Built 1900 4,792 sqft lot Est $153k · 15% under

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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
• ARV discount +14.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.3/5.0
• Livability +3.7/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Charming single-family home in Southwest Detroit. Features 4 bedrooms, 1.5 baths, cozy living space and an detached garage. Property offers excellent potential for cosmetic updates and value-add improvements. Perfect for investors or homeowners looking to personalize in a centrally located Detroit community with convenient access to major thoroughfares and neighborhood amenities. All showing must be accompanied by licensed MI showing agent. Buyer and Buyers Agent to verify all measurements. A Third-party approval by the probate court. SATURDAY & SUNDAY SHOWINGS ONLY

Key facts

• Centrally located
• Convenient access
• Cosmetic updates

Tags

• DETACHED GARAGE
• COSMETIC UPDATES
• VALUE-ADD IMPROVEMENTS
• CENTRALLY LOCATED
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Cap rate 17.6% vs local median 10.2% 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 rising fast (+7.3%/yr); 105 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $2,535/mo this rent would consume 69% of the median local household income ($44k/yr) (locally 431% 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 $898 of loan paydown is wiped out by about $4k 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 + 7.3% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1900 — 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: 1.95% ✓
• Cap rate: 17.60%
• Cash-on-cash: 40.39%
• DSCR: 2.80
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $152,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1293 18th St	0.35mi	3/2.0 (-1)	1,514 (-1%)	0mo	$215,000	$142	75
1824 20th St	0.06mi	3/1.0 (-1)	1,674 (+10%)	9mo	$167,500	$100	67
2844 16th St	0.54mi	3/2.5 (-1)	1,534 (+0%)	2mo	$208,869	$136	64
1547 25th St	0.50mi	3/1.0 (-1)	1,500 (-2%)	13mo	$110,000	$73	56
2118 Vinewood St	0.63mi	3/1.0 (-1)	1,557 (+2%)	10mo	$155,000	$100	52
3066 23rd St	0.73mi	4/2.0	1,570 (+3%)	12mo	$100,000	$64	49
2153 Hubbard St	0.72mi	4/2.0	1,650 (+8%)	3mo	$127,500	$77	48
1257 25th St	0.59mi	3/1.5 (-1)	1,690 (+11%)	7mo	$170,000	$101	44
762 W Grand Blvd	0.72mi	3/1.0 (-1)	1,506 (-1%)	23mo	$150,000	$100	38
712 W Grand Blvd	0.66mi	3/1.0 (-1)	1,378 (-10%)	13mo	$159,000	$115	35
2046 24th St	0.38mi	3/1.0 (-1)	1,302 (-15%)	19mo	$134,000	$103	35
2848 Williams St	0.60mi	3/1.0 (-1)	1,351 (-12%)	19mo	$60,000	$44	30

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 · 7.3% rent growth · sell at horizon

5-year hold

• IRR: 41.3%
• Equity multiple: 2.88×
• Total profit: $68,321
• Equity at exit: $19,369

10-year hold

• IRR: 49.5%
• Equity multiple: 6.80×
• Total profit: $211,050
• Equity at exit: $11,231

Cash invested: $36,372 (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 48216

• Home prices YoY: -2.3%
• Rents YoY: 7.3%
• Active inventory: 105
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,535 high
• Mortgage (P&I): −$681
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $1,224

Break-even live

Break-even rent $985

Max offer price $129,900

Occupancy floor 47%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2835 23rd St Unit 2 Detroit, MI	3.0	2.0	1100	$1,450	$1.32	16d	1	0.65mi
3309 14th St Detroit, MI	1.0–3.0	1.0–2.5	942	$2,230	$2.37	1d	11	0.74mi
1646 Mc Kinstry St Unit 1F McKinstry Detroit, MI	4.0	1.0	1879	$1,200	$0.64	5d	1	1.00mi
3984 Commonwealth St Unit B Detroit, MI	3.0	2.0	1100	$2,400	$2.18	24d	1	1.27mi
4619 16th St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	2d	1	1.39mi
525 W Lafayette Blvd Detroit, MI	1.0–3.0	1.0–2.0	1546	$4,250	$2.75	2d	4	1.40mi
525 W Lafayette Blvd Detroit, MI	2.0–3.0	2.0	1546	$4,250	$2.75	43d	3	1.40mi
1434 Campbell St Detroit, MI	3.0	1.0	1150	$1,750	$1.52	24d	1	1.42mi

Listing history 6 events

1. 2026-04-19
   status Pending
2. 2026-03-18
   status Pending 578-char remark

   Show marketing remark (578 chars)

   Charming single-family home in Southwest Detroit. Features 4 bedrooms, 1.5 baths, cozy living space and an detached garage. Property offers excellent potential for cosmetic updates and value-add improvements. Perfect for investors or homeowners looking to personalize in a centrally located Detroit community with convenient access to major thoroughfares and neighborhood amenities. All showing must be accompanied by licensed MI showing agent. Buyer and Buyers Agent to verify all measurements. A Third-party approval by the probate court. SATURDAY & SUNDAY SHOWINGS ONLY

3. 2026-03-18
   status Pending

   Show marketing remark (578 chars)

   Charming single-family home in Southwest Detroit. Features 4 bedrooms, 1.5 baths, cozy living space and an detached garage. Property offers excellent potential for cosmetic updates and value-add improvements. Perfect for investors or homeowners looking to personalize in a centrally located Detroit community with convenient access to major thoroughfares and neighborhood amenities. All showing must be accompanied by licensed MI showing agent. Buyer and Buyers Agent to verify all measurements. A Third-party approval by the probate court. SATURDAY & SUNDAY SHOWINGS ONLY

4. 2026-03-18
   historical

   Show marketing remark (578 chars)

   Charming single-family home in Southwest Detroit. Features 4 bedrooms, 1.5 baths, cozy living space and an detached garage. Property offers excellent potential for cosmetic updates and value-add improvements. Perfect for investors or homeowners looking to personalize in a centrally located Detroit community with convenient access to major thoroughfares and neighborhood amenities. All showing must be accompanied by licensed MI showing agent. Buyer and Buyers Agent to verify all measurements. A Third-party approval by the probate court. SATURDAY & SUNDAY SHOWINGS ONLY

5. 2026-03-08
   listed $129,900 Active

   Show marketing remark (578 chars)

   Charming single-family home in Southwest Detroit. Features 4 bedrooms, 1.5 baths, cozy living space and an detached garage. Property offers excellent potential for cosmetic updates and value-add improvements. Perfect for investors or homeowners looking to personalize in a centrally located Detroit community with convenient access to major thoroughfares and neighborhood amenities. All showing must be accompanied by licensed MI showing agent. Buyer and Buyers Agent to verify all measurements. A Third-party approval by the probate court. SATURDAY & SUNDAY SHOWINGS ONLY

6. 2026-03-08
   listed $129,900 Active 578-char remark

   Show marketing remark (578 chars)

   Charming single-family home in Southwest Detroit. Features 4 bedrooms, 1.5 baths, cozy living space and an detached garage. Property offers excellent potential for cosmetic updates and value-add improvements. Perfect for investors or homeowners looking to personalize in a centrally located Detroit community with convenient access to major thoroughfares and neighborhood amenities. All showing must be accompanied by licensed MI showing agent. Buyer and Buyers Agent to verify all measurements. A Third-party approval by the probate court. SATURDAY & SUNDAY SHOWINGS ONLY

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $1,258 · $105/mo
• Expected delta: +$743/yr (+$62/mo · 144.2%)

ⓘ 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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,416
• − Mortgage interest: −$7,276
• − Property taxes: −$515
• − Insurance: −$650
• − Repairs & maintenance: −$2,433
• − Management: −$2,433
• − Depreciation: −$3,779
• Taxable income: $13,329
• Est. tax owed @ 24.0%: −$3,199
• After-tax cash flow: $11,490/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): 5,865
• Household income: $44,335
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 431.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 37% White 32% Hispanic / Latino 24% Two or more races 10%
• Hispanic origin (detail): Mexican 18% Puerto Rican 2%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 15% 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: ▼ -4.60%
• Current HPI: 194.458
• Rent YoY: ▲ 7.30%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-19 Pending — REALCOMP
• 2026-03-18 Pending — MiRealSource-MiMLS
• 2026-03-18 Pending — REALCOMP
• 2026-03-18 Listing Removed — REALCOMP
• 2026-03-08 Listed $129,900 REALCOMP
• 2026-03-08 Listed $129,900 MiRealSource-MiMLS

Property tax history

+4.6%/yr

Latest (2025): $515 · -36.6% YoY. Source: county tax records.