9940 Charlevoix St · Detroit, MI 48214

$140,000

5 bd · 1.5 ba · 1,692 sqft · SingleFamily public records · 69 Days on market

Built 1910 436 sqft lot $83/sqft · 14% above area Est $123k · 14% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

Key facts

• Built 1910
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 298 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,026/mo this rent would consume 72% of the median local household income ($34k/yr) (locally 1364% 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 $968 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 + 3.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $60k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1910 — 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. 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: 1.45% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.41%
• DSCR: 2.04
• GRM: 5.8

CMA / ARV

• ARV (median comp): $123,118
• List price: $140,000
• Delta: 17.77%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2991 Garland St	0.23mi	4/2.0 (-1)	1,755 (+4%)	2mo	$125,000	$71	75
2931 Garland St	0.21mi	4/3.0 (-1)	1,558 (-8%)	1mo	$215,000	$138	65
2918 Garland St	0.24mi	4/3.0 (-1)	1,546 (-9%)	1mo	$205,000	$133	63
2592 Harding St	0.37mi	4/2.0 (-1)	1,844 (+9%)	6mo	$229,000	$124	55
3748 Burns St	0.66mi	4/1.5 (-1)	1,776 (+5%)	4mo	$225,000	$127	53
3482/3486 Pennsylvania St	0.30mi	4/2.0 (-1)	1,846 (+9%)	22mo	$25,500	$14	46
2259 Saint Clair St	0.32mi	4/2.0 (-1)	1,944 (+15%)	11mo	$85,000	$44	44
4208 Holcomb St	0.72mi	4/1.5 (-1)	1,584 (-6%)	11mo	$15,000	$9	42
3869 Burns St	0.75mi	4/1.5 (-1)	1,505 (-11%)	2mo	$230,000	$153	40
2951 Fischer St	0.50mi	4/2.0 (-1)	1,932 (+14%)	14mo	$300,000	$155	35
3902 French Rd	0.73mi	6/2.0 (+1)	1,848 (+9%)	14mo	$129,500	$70	32
2116 Montclair St	0.53mi	4/1.5 (-1)	1,908 (+13%)	24mo	$172,500	$90	29

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: 16.4%
• Equity multiple: 1.66×
• Total profit: $25,961
• Equity at exit: $20,874

10-year hold

• IRR: 25.0%
• Equity multiple: 3.17×
• Total profit: $85,109
• Equity at exit: $12,105

Cash invested: $39,200 (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 48214

• Active inventory: 298
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,026 high
• Mortgage (P&I): −$734
• Tax from tax record: −$44 /mo · $525/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $765

Break-even live

Break-even rent $1,059

Max offer price $140,000

Occupancy floor 57%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	0.80mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	0.81mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	0.87mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	43d	1	1.18mi
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	43d	1	1.42mi

Listing history 33 events

1. 2026-06-18
   days on market $140,000 Active 69 DOM
2. 2026-06-17
   pricedays on market $140,000 Active 68 DOM
3. 2026-06-15
   days on market $145,000 Active 66 DOM
4. 2026-06-13
   days on market $145,000 Active 64 DOM
5. 2026-06-13
   days on market $145,000 Active 63 DOM
6. 2026-06-09
   days on market $145,000 Active 60 DOM
7. 2026-06-08
   days on market $145,000 Active 59 DOM
8. 2026-06-07
   pricedays on market $145,000 Active 58 DOM
9. 2026-06-04
   days on market $149,000 Active 55 DOM
10. 2026-06-03
    days on market $149,000 Active 54 DOM
11. 2026-06-02
    days on market $149,000 Active 53 DOM
12. 2026-06-01
    days on market $149,000 Active 52 DOM
13. 2026-05-31
    days on market $149,000 Active 51 DOM
14. 2026-05-18
    price $155,000 202-char remark

    Show marketing remark (189 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

15. 2026-05-18
    price $155,000 189-char remark

    Show marketing remark (189 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

16. 2026-05-12
    price $160,000 202-char remark

    Show marketing remark (189 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

17. 2026-05-12
    price $160,000 189-char remark

    Show marketing remark (189 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

18. 2026-04-29
    price $165,000 202-char remark

    Show marketing remark (202 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

19. 2026-04-28
    price $165,000 189-char remark

    Show marketing remark (189 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

20. 2026-04-14
    price $180,000 202-char remark

    Show marketing remark (189 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

21. 2026-04-14
    price $180,000 189-char remark

    Show marketing remark (189 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

22. 2026-04-10
    listed $200,000 Active 189-char remark

    Show marketing remark (202 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

23. 2026-04-10
    listed $200,000 Active 202-char remark

    Show marketing remark (202 chars)

    ?? BEST DEAL OF 2026 – DETROIT INVESTOR SPECIAL! ?? ?? 9940 charlevoix Street, Detroit, MI 48214 This is a prime investment opportunity in Detroit with serious upside. Perfect for fix

24. 2026-02-04
    historical
25. 2025-10-16
    price $129,000
26. 2025-10-16
    price $129,000
27. 2025-10-05
    price $149,000
28. 2025-10-04
    price $149,000
29. 2025-08-22
    price $180,000
30. 2025-08-22
    price $180,000
31. 2025-08-13
    listed $240,000 Active
32. 2025-08-13
    listed $240,000 Active
33. 2007-06-28
    soldstatus $100,000

ⓘ 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: $525 · $44/mo
• Projected year-2 tax: $1,341 · $112/mo
• Expected delta: +$815/yr (+$68/mo · 155.3%)

ⓘ 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 ≥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: $24,317
• − Mortgage interest: −$7,842
• − Property taxes: −$525
• − Insurance: −$700
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$4,073
• Taxable income: $7,286
• Est. tax owed @ 24.0%: −$1,749
• After-tax cash flow: $7,426/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

+55.0% since first listed

20 events — show timeline

• 2026-05-18 Price Changed $155,000 MiRealSource-MiMLS
• 2026-05-18 Price Changed $155,000 REALCOMP
• 2026-05-12 Price Changed $160,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $160,000 REALCOMP
• 2026-04-29 Price Changed $165,000 MiRealSource-MiMLS
• 2026-04-28 Price Changed $165,000 REALCOMP
• 2026-04-14 Price Changed $180,000 MiRealSource-MiMLS
• 2026-04-14 Price Changed $180,000 REALCOMP
• 2026-04-10 Listed $200,000 REALCOMP
• 2026-04-10 Listed $200,000 MiRealSource-MiMLS
• 2026-02-04 Listing Removed — MiRealSource-MiMLS
• 2025-10-16 Price Changed $129,000 MiRealSource-MiMLS
• 2025-10-16 Price Changed $129,000 REALCOMP
• 2025-10-05 Price Changed $149,000 MiRealSource-MiMLS
• 2025-10-04 Price Changed $149,000 REALCOMP
• 2025-08-22 Price Changed $180,000 MiRealSource-MiMLS
• 2025-08-22 Price Changed $180,000 REALCOMP
• 2025-08-13 Listed $240,000 REALCOMP
• 2025-08-13 Listed $240,000 MiRealSource-MiMLS
• 2007-06-28 Sold (Public Records) $100,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $525 · -28.3% YoY. Source: county tax records.