6463 Crane St · Detroit, MI 48213

$15,000

4 bd · 1.0 ba · 1,174 sqft · SingleFamily public records · 65 Days on market

Built 1912 3,049 sqft lot $13/sqft · 32% below area

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

Listing remarks MLS

Opportunity knocks with this spacious multi-family property located on the east side of Detroit. Featuring solid bones and over 2,000 sq ft of living space, this property is primed for a full renovation and ready to be transformed into a high-performing asset. Perfect for fix-and-flip investors or buy-and-hold landlords looking to add value and build equity. Bring your vision and unlock the true potential of this property. With the right updates, this could be a standout addition to any portfolio. Great value-add opportunity Convenient access to major roads and highways Ideal for investors looking to capitalize on Detroit's growth Sold as-is. Buyer to verify all information.

Key facts

• Highways
• Convenient access
• Full renovation

Tags

• MULTI-FAMILY PROPERTY
• FULL RENOVATION
• VALUE-ADD OPPORTUNITY
• CONVENIENT ACCESS
• MAJOR ROADS
• HIGHWAYS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $14k (6.0% below list) — sets the bar for market timing.
• Cap rate 92.1% 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: 190 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1,489/mo this rent would consume 53% of the median local household income ($34k/yr) (locally 1202% 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 $104 of loan paydown is wiped out by about $450 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 + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 9.92% ✓
• Cap rate: 92.08%
• Cash-on-cash: 306.40%
• DSCR: 14.63
• GRM: 0.8

CMA / ARV

• ARV (median comp): $37,812
• List price: $15,000
• Delta: -60.33%
• 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
6659 Fischer St	0.12mi	3/1.0 (-1)	1,200 (+2%)	6mo	$22,000	$18	81
6631 Seminole St	0.30mi	3/1.5 (-1)	1,248 (+6%)	2mo	$24,000	$19	67
6026 Maxwell St	0.39mi	4/1.0	1,266 (+8%)	2mo	$10,000	$8	67
9354 Bessemore St	0.29mi	3/1.0 (-1)	1,125 (-4%)	16mo	$23,000	$20	61
8221 Marion St	0.44mi	3/1.0 (-1)	1,070 (-9%)	8mo	$42,080	$39	53
8922 Armour St	0.57mi	4/1.0	1,050 (-11%)	5mo	$25,000	$24	52
6215 Field St	0.73mi	3/1.0 (-1)	1,229 (+5%)	3mo	$13,000	$11	51
9138 Fischer St	0.47mi	3/1.5 (-1)	1,296 (+10%)	4mo	$19,000	$15	50
8138 Knodell St	0.63mi	4/1.0	1,260 (+7%)	12mo	$46,000	$37	48
5855 Hurlbut St	0.65mi	3/1.0 (-1)	1,296 (+10%)	5mo	$119,900	$93	43
5336 Fischer St	0.67mi	3/1.0 (-1)	1,096 (-7%)	13mo	$45,000	$41	42
5327 Holcomb St	0.69mi	3/2.0 (-1)	1,046 (-11%)	5mo	$30,000	$29	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 16.69×
• Total profit: $65,893
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 35.62×
• Total profit: $145,418
• Equity at exit: $1,297

Cash invested: $4,200 (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 48213

• Active inventory: 190
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $1,072

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 23%

Sensitivity live

Price	-10% $1,083	-5% $1,078	+0% $1,072	+5% $1,067	+10% $1,062
Rent	-10% $955	-5% $1,014	+0% $1,072	+5% $1,131	+10% $1,190
Rate	-1.0pp $1,080	-0.5pp $1,076	base $1,072	+0.5pp $1,069	+1.0pp $1,065

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	18d	1	0.31mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	0.36mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	18d	1	0.52mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	25d	1	0.73mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	18d	1	0.77mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	18d	1	1.05mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	44d	1	1.18mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	25d	1	1.29mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.31mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.37mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	44d	1	1.46mi

Listing history 28 events

1. 2026-06-18
   days on market $15,000 Active 65 DOM
2. 2026-06-17
   days on market $15,000 Active 64 DOM
3. 2026-06-15
   days on market $15,000 Active 62 DOM
4. 2026-06-13
   days on market $15,000 Active 60 DOM
5. 2026-06-13
   days on market $15,000 Active 59 DOM
6. 2026-06-09
   days on market $15,000 Active 56 DOM
7. 2026-06-08
   days on market $15,000 Active 55 DOM
8. 2026-06-07
   days on market $15,000 Active 54 DOM
9. 2026-06-04
   days on market $15,000 Active 51 DOM
10. 2026-06-03
    days on market $15,000 Active 50 DOM
11. 2026-06-02
    days on market $15,000 Active 49 DOM
12. 2026-06-01
    days on market $15,000 Active 48 DOM
13. 2026-05-31
    days on market $15,000 Active 47 DOM
14. 2026-04-13
    listed $15,000 Active 683-char remark

    Show marketing remark (690 chars)

    Opportunity knocks with this spacious multi-family property located on the east side of Detroit. Featuring solid bones and over 2,000 sq ft of living space, this property is primed for a full renovation and ready to be transformed into a high-performing asset. Perfect for fix-and-flip investors or buy-and-hold landlords looking to add value and build equity. Bring your vision and unlock the true potential of this property. With the right updates, this could be a standout addition to any portfolio. Great value-add opportunity Convenient access to major roads and highways Ideal for investors looking to capitalize on Detroit’s growth Sold as-is. Buyer to verify all information.

15. 2026-04-13
    listed $15,000 Active 690-char remark

    Show marketing remark (690 chars)

    Opportunity knocks with this spacious multi-family property located on the east side of Detroit. Featuring solid bones and over 2,000 sq ft of living space, this property is primed for a full renovation and ready to be transformed into a high-performing asset. Perfect for fix-and-flip investors or buy-and-hold landlords looking to add value and build equity. Bring your vision and unlock the true potential of this property. With the right updates, this could be a standout addition to any portfolio. Great value-add opportunity Convenient access to major roads and highways Ideal for investors looking to capitalize on Detroit’s growth Sold as-is. Buyer to verify all information.

16. 2024-08-07
    historical
17. 2024-08-07
    historical
18. 2024-07-18
    price $27,000
19. 2024-07-18
    price $27,000
20. 2024-07-09
    listed $30,650 Active
21. 2024-07-09
    historical
22. 2024-07-09
    listed $30,650 Active
23. 2024-07-09
    historical
24. 2024-07-01
    price $30,650
25. 2024-07-01
    price $30,650
26. 2024-05-24
    listed $35,000 Active
27. 2024-05-24
    listed $35,000 Active
28. 2006-01-19
    soldstatus $60,000

ⓘ 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 ≥96°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: $17,864
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$436
• Taxable income: $13,429
• Est. tax owed @ 24.0%: −$3,223
• After-tax cash flow: $9,646/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 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: ▼ -122.86%
• Current HPI: 217.2037
• Rent YoY: —
• 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

-75.0% since first listed

15 events — show timeline

• 2026-04-13 Listed $15,000 REALCOMP
• 2026-04-13 Listed $15,000 MiRealSource-MiMLS
• 2024-08-07 Listing Removed — MiRealSource-MiMLS
• 2024-08-07 Listing Removed — REALCOMP
• 2024-07-18 Price Changed $27,000 MiRealSource-MiMLS
• 2024-07-18 Price Changed $27,000 REALCOMP
• 2024-07-09 Listing Removed — MiRealSource-MiMLS
• 2024-07-09 Listed $30,650 MiRealSource-MiMLS
• 2024-07-09 Listing Removed — REALCOMP
• 2024-07-09 Listed $30,650 REALCOMP
• 2024-07-01 Price Changed $30,650 MiRealSource-MiMLS
• 2024-07-01 Price Changed $30,650 REALCOMP
• 2024-05-24 Listed $35,000 MiRealSource-MiMLS
• 2024-05-24 Listed $35,000 REALCOMP
• 2006-01-19 Sold (Public Records) $60,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $982 · +188.8% YoY. Source: county tax records.