16770 Greenlawn St · Detroit, MI 48221

$120,000

4 bd · 2.0 ba · 2,119 sqft · Townhouse public records · 45 Days on market

Built 1928 5,227 sqft lot $57/sqft · 39% below area Est $196k · 39% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Full rehab opportunity. Spacious two-unit brick colonial in Fitzgerald/Marygrove with 2,100 sq ft. Major work needed. Ideal for investors or contractors. Sold strictly as is.

Key facts

• 5,227 sq ft lot
• Built 1928
• Listed 44 days

Property features AI

Finance

• Other: Property listed as residential, single-family
• Financial info: Tax information not included
• HOA & community: HOA details not provided

Exterior

• Parking: No garage
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick exterior
• Construction: Brick construction; Year built not provided
• Exterior features: Paved road access; Lot dimensions approximately 40 x 126.5 (0.12 acres); No pool

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Total of 4 rooms
• Laundry & utility: Laundry details not provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.

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 (+3.4%/yr); 349 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 35% of the median local income ($58k/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 $830 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 + 3.4% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 7 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.

Risks & watch-outs

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

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.45%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (median comp): $195,747
• List price: $120,000
• Delta: -38.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.42×
• Total profit: $14,232
• Equity at exit: $17,892

10-year hold

• IRR: 20.1%
• Equity multiple: 2.73×
• Total profit: $57,991
• Equity at exit: $10,375

Cash invested: $33,600 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,704 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $516

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 65%

Sensitivity live

Price	-10% $599	-5% $558	+0% $516	+5% $475	+10% $434
Rent	-10% $382	-5% $449	+0% $516	+5% $584	+10% $651
Rate	-1.0pp $577	-0.5pp $547	base $516	+0.5pp $485	+1.0pp $454

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	45d	1	0.36mi
17530 Roselawn St Unit 1 Detroit, MI	3.0	2.0	1600	$2,000	$1.25	25d	1	0.36mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,945	$0.90	0d	1	0.53mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	21d	1	0.57mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	25d	1	0.65mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	25d	1	0.74mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	5d	1	1.19mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	45d	1	1.27mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	45d	1	1.43mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	1.45mi

Listing history 33 events

1. 2026-06-21
   days on market $120,000 Active 45 DOM
2. 2026-06-18
   days on market $120,000 Active 42 DOM
3. 2026-06-17
   days on market $120,000 Active 41 DOM
4. 2026-06-15
   days on market $120,000 Active 39 DOM
5. 2026-06-13
   days on market $120,000 Active 37 DOM
6. 2026-06-13
   days on market $120,000 Active 36 DOM
7. 2026-06-09
   days on market $120,000 Active 33 DOM
8. 2026-06-08
   days on market $120,000 Active 32 DOM
9. 2026-06-07
   days on market $120,000 Active 31 DOM
10. 2026-06-04
    days on market $120,000 Active 28 DOM
11. 2026-06-03
    days on market $120,000 Active 27 DOM
12. 2026-06-02
    days on market $120,000 Active 26 DOM
13. 2026-06-01
    days on market $120,000 Active 25 DOM
14. 2026-05-31
    days on market $120,000 Active 24 DOM
15. 2026-05-08
    listed $120,000 Active 187-char remark

    Show marketing remark (174 chars)

    Full rehab opportunity. Spacious two-unit brick colonial in Fitzgerald/Marygrove with 2,100 sq ft. Major work needed. Ideal for investors or contractors. Sold strictly as is.

16. 2026-05-08
    listed $120,000 Active 187-char remark

    Show marketing remark (174 chars)

    Full rehab opportunity. Spacious two-unit brick colonial in Fitzgerald/Marygrove with 2,100 sq ft. Major work needed. Ideal for investors or contractors. Sold strictly as is.

17. 2026-05-01
    historical $120,000 187-char remark

    Show marketing remark (174 chars)

    Full rehab opportunity. Spacious two-unit brick colonial in Fitzgerald/Marygrove with 2,100 sq ft. Major work needed. Ideal for investors or contractors. Sold strictly as is.

18. 2019-09-19
    soldstatus $108,000
19. 2017-01-20
    soldstatus $27,000 Sold

    Show marketing remark (161 chars)

    Duplex is in a good neighborhood. House needs a full rehab. Would be perfect for an investor, or someone interested in dedicating time & work to this home!

20. 2016-12-16
    status Pending

    Show marketing remark (161 chars)

    Duplex is in a good neighborhood. House needs a full rehab. Would be perfect for an investor, or someone interested in dedicating time & work to this home!

21. 2016-12-16
    status Pending

    Show marketing remark (161 chars)

    Duplex is in a good neighborhood. House needs a full rehab. Would be perfect for an investor, or someone interested in dedicating time & work to this home!

22. 2016-12-02
    listed $25,000 Active

    Show marketing remark (161 chars)

    Duplex is in a good neighborhood. House needs a full rehab. Would be perfect for an investor, or someone interested in dedicating time & work to this home!

23. 2016-12-02
    listed $25,000 Active

    Show marketing remark (161 chars)

    Duplex is in a good neighborhood. House needs a full rehab. Would be perfect for an investor, or someone interested in dedicating time & work to this home!

24. 2015-10-22
    soldstatus $31,000 Sold
25. 2015-10-22
    soldstatus $31,000
26. 2015-09-01
    historical
27. 2015-08-07
    listed $34,900 Active
28. 2015-08-07
    listed $34,900
29. 2007-12-05
    soldstatus $110,000
30. 2007-04-25
    soldstatus $13,000
31. 2007-03-27
    historical
32. 2007-01-03
    listed $17,900
33. 2004-02-19
    soldstatus $82,000

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

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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,442
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$3,491
• Taxable income: $4,559
• Est. tax owed @ 24.0%: −$1,094
• After-tax cash flow: $5,104/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

+46.3% since first listed

19 events — show timeline

• 2026-05-08 Listed $120,000 MiRealSource-MiMLS
• 2026-05-08 Listed $120,000 REALCOMP
• 2026-05-01 Coming Soon $120,000 MiRealSource-MiMLS
• 2019-09-19 Sold (Public Records) $108,000 Public Records
• 2017-01-20 Sold (MLS) $27,000 REALCOMP
• 2016-12-16 Pending — MiRealSource-MiMLS
• 2016-12-16 Pending — REALCOMP
• 2016-12-02 Listed $25,000 MiRealSource-MiMLS
• 2016-12-02 Listed $25,000 REALCOMP
• 2015-10-22 Sold (MLS) $31,000 MiRealSource-MiMLS
• 2015-10-22 Sold (MLS) $31,000 REALCOMP
• 2015-09-01 Listing Removed — REALCOMP
• 2015-08-07 Listed $34,900 REALCOMP
• 2015-08-07 Listed $34,900 MiRealSource-MiMLS
• 2007-12-05 Sold (Public Records) $110,000 Public Records
• 2007-04-25 Sold (MLS) $13,000 MiRealSource-MiMLS
• 2007-03-27 Listing Removed — MiRealSource-MiMLS
• 2007-01-03 Listed $17,900 MiRealSource-MiMLS
• 2004-02-19 Sold (Public Records) $82,000 Public Records

Property tax history

+14.0%/yr

Latest (2025): $6,136 · +5.1% YoY. Source: county tax records.