2491-2493 Calvert Ave · Detroit, MI 48206

$150,000

4 bd · 2.5 ba · 2,700 sqft · Townhouse public records · 47 Days on market

Built 1922 6,098 sqft lot $56/sqft · 28% above area Est $117k · 28% over

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Why this score? — see what drove the C+ 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
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this multi-family home, originally built in 1922, offering approximately 2,700 square feet of living space. This well-maintained two-unit property features two bedrooms and one bathroom in each unit, making it an excellent opportunity for both investors and owner-occupants. Step into bright and inviting living rooms filled with natural light, each complemented by a cozy fireplace that adds warmth and character. The kitchens provide ample space for meal preparation, perfect for everyday living and entertaining. Outside, the backyard offers a great setting for gardening, outdoor gatherings, or relaxing cookouts. Don't miss the chance to own a versatile property with classic charm and practical living space.

Key facts

• Two-unit property
• Cozy fireplace
• Multi-family home

Tags

• MULTI-FAMILY HOME
• TWO-UNIT PROPERTY
• COZY FIREPLACE
• GREAT SETTING FOR GARDENING
• OUTDOOR GATHERINGS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property (multi-family); Two-story
• Construction: Brick exterior; Block foundation
• Exterior features: Paved road access; Pets allowed: contact for details

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (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 fast (+5.2%/yr); 273 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,324/mo this rent would consume 62% 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 $1k 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 + 5.2% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $150k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1922 — 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: 1.55% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.39%
• DSCR: 1.73
• GRM: 5.4

CMA / ARV

• ARV (median comp): $116,757
• List price: $150,000
• Delta: 28.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.42×
• Total profit: $17,661
• Equity at exit: $22,365

10-year hold

• IRR: 21.4%
• Equity multiple: 3.04×
• Total profit: $85,701
• Equity at exit: $12,969

Cash invested: $42,000 (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: 273
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,324 high
• Mortgage (P&I): −$787
• Tax from tax record: −$414 /mo · $4,963/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $574

Break-even live

Break-even rent $1,598

Max offer price $150,000

Occupancy floor 70%

Sensitivity live

Price	-10% $659	-5% $616	+0% $574	+5% $531	+10% $489
Rent	-10% $390	-5% $482	+0% $574	+5% $665	+10% $757
Rate	-1.0pp $649	-0.5pp $612	base $574	+0.5pp $535	+1.0pp $495

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2286 Calvert St Detroit, MI	4.0	1.0	3402	$1,450	$0.43	15d	1	0.14mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	2d	1	0.17mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	17d	1	0.47mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	22d	1	0.48mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	0.56mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	2d	1	0.56mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	11d	1	0.56mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	17d	1	0.64mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	2d	1	0.69mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	2d	1	0.70mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	4d	1	0.72mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	1.14mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	24d	1	1.15mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	44d	1	1.17mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	25d	1	1.18mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	45d	1	1.26mi
634 Atkinson St Detroit, MI	3.0	3.5	3000	$6,500	$2.17	11d	1	1.28mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	1.30mi
7370 La Salle Blvd Detroit, MI	4.0	3.0	3610	$4,500	$1.25	44d	1	1.39mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	1.43mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	1.43mi

Listing history 40 events

1. 2026-06-21
   days on market $150,000 Active 47 DOM
2. 2026-06-18
   price $150,000 Active 44 DOM

   Show marketing remark (725 chars)

   Welcome to this multi-family home, originally built in 1922, offering approximately 2,700 square feet of living space. This well-maintained two-unit property features two bedrooms and one bathroom in each unit, making it an excellent opportunity for both investors and owner-occupants. Step into bright and inviting living rooms filled with natural light, each complemented by a cozy fireplace that adds warmth and character. The kitchens provide ample space for meal preparation, perfect for everyday living and entertaining. Outside, the backyard offers a great setting for gardening, outdoor gatherings, or relaxing cookouts. Don't miss the chance to own a versatile property with classic charm and practical living space.

3. 2026-06-18
   days on market $160,000 Active 44 DOM

   Show marketing remark (725 chars)

   Welcome to this multi-family home, originally built in 1922, offering approximately 2,700 square feet of living space. This well-maintained two-unit property features two bedrooms and one bathroom in each unit, making it an excellent opportunity for both investors and owner-occupants. Step into bright and inviting living rooms filled with natural light, each complemented by a cozy fireplace that adds warmth and character. The kitchens provide ample space for meal preparation, perfect for everyday living and entertaining. Outside, the backyard offers a great setting for gardening, outdoor gatherings, or relaxing cookouts. Don't miss the chance to own a versatile property with classic charm and practical living space.

4. 2026-06-17
   days on market $160,000 Active 43 DOM
5. 2026-06-15
   days on market $160,000 Active 41 DOM
6. 2026-06-13
   days on market $160,000 Active 39 DOM
7. 2026-06-13
   days on market $160,000 Active 38 DOM
8. 2026-06-09
   days on market $160,000 Active 35 DOM
9. 2026-06-08
   days on market $160,000 Active 34 DOM
10. 2026-06-07
    days on market $160,000 Active 33 DOM
11. 2026-06-04
    days on market $160,000 Active 30 DOM
12. 2026-06-03
    days on market $160,000 Active 29 DOM
13. 2026-06-02
    days on market $160,000 Active 28 DOM
14. 2026-06-01
    days on market $160,000 Active 27 DOM
15. 2026-05-31
    days on market $160,000 Active 26 DOM
16. 2026-05-05
    listed $160,000 Active 725-char remark

    Show marketing remark (725 chars)

    Welcome to this multi-family home, originally built in 1922, offering approximately 2,700 square feet of living space. This well-maintained two-unit property features two bedrooms and one bathroom in each unit, making it an excellent opportunity for both investors and owner-occupants. Step into bright and inviting living rooms filled with natural light, each complemented by a cozy fireplace that adds warmth and character. The kitchens provide ample space for meal preparation, perfect for everyday living and entertaining. Outside, the backyard offers a great setting for gardening, outdoor gatherings, or relaxing cookouts. Don't miss the chance to own a versatile property with classic charm and practical living space.

17. 2026-05-05
    listed $160,000 Active 731-char remark

    Show marketing remark (725 chars)

    Welcome to this multi-family home, originally built in 1922, offering approximately 2,700 square feet of living space. This well-maintained two-unit property features two bedrooms and one bathroom in each unit, making it an excellent opportunity for both investors and owner-occupants. Step into bright and inviting living rooms filled with natural light, each complemented by a cozy fireplace that adds warmth and character. The kitchens provide ample space for meal preparation, perfect for everyday living and entertaining. Outside, the backyard offers a great setting for gardening, outdoor gatherings, or relaxing cookouts. Don't miss the chance to own a versatile property with classic charm and practical living space.

18. 2024-03-04
    historical
19. 2024-03-04
    historical
20. 2024-03-04
    historical
21. 2024-03-04
    historical
22. 2024-01-03
    price $219,999
23. 2024-01-03
    price $219,999
24. 2024-01-03
    price $219,999
25. 2024-01-03
    price $219,999
26. 2023-12-27
    price $225,000
27. 2023-12-27
    price $225,000
28. 2023-12-26
    price $225,000
29. 2023-12-26
    price $225,000
30. 2023-12-20
    listed $250,000 Active
31. 2023-12-20
    listed $250,000 Active
32. 2023-12-20
    listed $250,000 Active
33. 2023-12-20
    listed $250,000 Active
34. 2023-09-11
    soldstatus $60,000
35. 2022-01-13
    soldstatus $65,000
36. 2021-11-11
    soldstatus $60,000
37. 2020-01-24
    historical
38. 2020-01-24
    historical
39. 2019-07-29
    listed $45,000 Active
40. 2019-07-29
    listed $45,000 Active

ⓘ 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: $4,963 · $414/mo
• Projected year-2 tax: $4,963 · $414/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 ≥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: $27,894
• − Mortgage interest: −$8,402
• − Property taxes: −$4,963
• − Insurance: −$750
• − Repairs & maintenance: −$2,232
• − Management: −$2,232
• − Depreciation: −$4,364
• Taxable income: $4,952
• Est. tax owed @ 24.0%: −$1,188
• After-tax cash flow: $5,695/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

+233.3% since first listed

27 events — show timeline

• 2026-06-18 Price Changed $150,000 MiRealSource-MiMLS
• 2026-06-18 Price Changed $150,000 REALCOMP
• 2026-05-05 Listed $160,000 REALCOMP
• 2026-05-05 Listed $160,000 MiRealSource-MiMLS
• 2024-03-04 Listing Removed — MiRealSource-MiMLS
• 2024-03-04 Listing Removed — MiRealSource-MiMLS
• 2024-03-04 Listing Removed — REALCOMP
• 2024-03-04 Listing Removed — REALCOMP
• 2024-01-03 Price Changed $219,999 MiRealSource-MiMLS
• 2024-01-03 Price Changed $219,999 MiRealSource-MiMLS
• 2024-01-03 Price Changed $219,999 REALCOMP
• 2024-01-03 Price Changed $219,999 REALCOMP
• 2023-12-27 Price Changed $225,000 MiRealSource-MiMLS
• 2023-12-27 Price Changed $225,000 MiRealSource-MiMLS
• 2023-12-26 Price Changed $225,000 REALCOMP
• 2023-12-26 Price Changed $225,000 REALCOMP
• 2023-12-20 Listed $250,000 MiRealSource-MiMLS
• 2023-12-20 Listed $250,000 MiRealSource-MiMLS
• 2023-12-20 Listed $250,000 REALCOMP
• 2023-12-20 Listed $250,000 REALCOMP
• 2023-09-11 Sold (Public Records) $60,000 Public Records
• 2022-01-13 Sold (Public Records) $65,000 Public Records
• 2021-11-11 Sold (Public Records) $60,000 Public Records
• 2020-01-24 Listing Removed — REALCOMP
• 2020-01-24 Listing Removed — MiRealSource-MiMLS
• 2019-07-29 Listed $45,000 MiRealSource-MiMLS
• 2019-07-29 Listed $45,000 REALCOMP

Property tax history

+10.8%/yr

Latest (2025): $4,963 · +2.7% YoY. Source: county tax records.