6533 E Jefferson Ave Unit 230T · Detroit, MI 48207

$124,000

2 bd · 2.0 ba · 1,028 sqft · Condo public records · 84 Days on market

Built 1906 $121/sqft · 15% below area Est $155k · 20% under $775/mo HOA · 47% of rent ↓ 18% since listing

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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).

• ARV discount +15.0/15.0
• 1% rule +8.4/10.0
• Cash flow +4.5/30.0
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• DSCR +0.0/10.0

Listing remarks MLS

BACK ON THE MARKET NO FAULT TO SELLER! Experience urban living at its finest in this spacious 2-bedroom loft, perfectly situated in a gated community with covered parking for added convenience and security. This modern residence combines open-concept design with industrial charm - featuring high ceilings, and expansive windows. Just outside the highly sought-after Island View neighborhood, this loft offers the best of both worlds: vibrant city living with quick access to scenic green spaces. Enjoy being close to Detroit's dining, entertainment, and waterfront attractions such as the River Walk, Eastern Market, West Village and Belle Isle while coming home to a private, well-maintained community that offers comfort and peace of mind. Whether you're a professional, creator, or savvy investor, this property delivers the perfect balance of style, location, and lifestyle in the heart of Detroit's growing downtown corridor. BATVAI

Key facts

• Gated community
• Open-concept design
• Covered parking

Tags

• GATED COMMUNITY
• COVERED PARKING
• OPEN-CONCEPT DESIGN
• HIGH CEILINGS
• EXPANSIVE WINDOWS
• PRIVATE COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $124k.

Deal economics

• At list price, monthly cash flow is $-318 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (37.1% below list).
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $78k (37.1% below list) — sets the bar for cash-flow.
• Cap rate 3.2% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+3.5%/yr); 244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 42% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.8%/yr); year-one equity from $857 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $124k implies a 364% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent; built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,048 (37.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 3.22%
• Cash-on-cash: -10.98%
• DSCR: 0.51
• GRM: 6.2

CMA / ARV

• ARV (median comp): $155,437
• List price: $124,000
• Delta: -20.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-2.79% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -32.0%
• Equity multiple: -0.09×
• Total profit: $-37,839
• Equity at exit: $19,645

10-year hold

• IRR: -28.3%
• Equity multiple: -0.51×
• Total profit: $-52,327
• Equity at exit: $12,717

Cash invested: $34,720 (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 48207

• Home prices YoY: -2.0%
• Rents YoY: 3.5%
• Active inventory: 244
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,860/yr
• Insurance: −$52
• HOA: −$775
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-318

Break-even live

Break-even rent $2,066

Max offer price $78,048

Occupancy floor —

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1181	$1,500	$1.27	24d	3	0.02mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1094	$1,500	$1.37	17d	2	0.02mi
6533 E Jefferson Ave #421 Detroit, MI	2.0	1.0	1063	$2,200	$2.07	15d	1	0.02mi
200 Mount Elliott St Detroit, MI	1.0	1.0	1050	$2,000	$1.90	43d	1	0.24mi
1440 Robert Bradby Dr Detroit, MI	2.0	2.0	1250	$1,472	$1.18	43d	1	0.33mi
625 Field St Detroit, MI	3.0	1.5	900	$882	$0.98	18d	1	0.36mi
3500 E Jefferson Detroit, MI	1.0–2.0	1.0–2.0	1012	$2,560	$2.53	1d	5	0.43mi
3320 Spinnaker Ln Detroit, MI	1.0	1.0	740	$1,550	$2.09	43d	1	0.49mi
7700 E Jefferson Ave Detroit, MI	2.0	1.0	877	$1,795	$2.05	43d	1	0.56mi
374 E Grand Blvd Unit 2A Detroit, MI	2.0	2.0	1450	$2,750	$1.90	43d	1	0.57mi
7800 E Jefferson Ave Detroit, MI	1.0–2.0	1.0	625	$899	$1.44	17d	1	0.63mi
1454 Townsend St #101 Detroit, MI	2.0	2.0	1268	$2,500	$1.97	3d	1	0.66mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	18d	1	0.69mi
7410 Kercheval Ave Unit 212 Detroit, MI	2.0	2.0	1017	$1,950	$1.92	43d	1	0.74mi
1000 Van Dyke St Detroit, MI	1.0–2.0	1.0	751	$1,295	$1.72	43d	4	0.77mi
1000 Van Dyke St Unit 205 Detroit, MI	2.0	1.0	863	$1,495	$1.73	15d	1	0.77mi
1000 Van Dyke St Unit B02 Detroit, MI	2.0	1.0	871	$1,295	$1.49	24d	1	0.77mi
500 River Pl Dr Detroit, MI	1.0–3.0	1.0–2.0	950	$1,625	$1.71	43d	1	0.79mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$1,712	$1.57	19d	20	0.80mi
2928 Prince Hall Dr Detroit, MI	2.0	2.0	1425	$2,000	$1.40	5d	1	0.90mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$2,270	$2.31	1d	3	0.96mi
1941 Chene Ct Detroit, MI	1.0–2.0	1.0–2.0	795	$1,200	$1.51	12d	4	1.01mi
2001 Chene St Detroit, MI	2.0	1.0	950	$1,069	$1.13	43d	1	1.07mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	1.10mi
3511 Concord Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	43d	1	1.21mi
1341 Crane St Detroit, MI	1.0	1.0	750	$995	$1.33	1d	1	1.24mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	1.25mi
8845 E Jefferson Apt 208 Detroit, MI	2.0	1.5	992	$1,635	$1.65	43d	1	1.26mi
8845 E Jefferson Ave Unit 203 Detroit, MI	2.0	1.5	1024	$1,515	$1.48	43d	1	1.26mi
8845 E Jefferson Ave Unit 102 Detroit, MI	1.0	1.5	800	$1,350	$1.69	43d	1	1.26mi
8845 E Jefferson Ave Unit 207 Detroit, MI	2.0	1.5	1500	$1,695	$1.13	43d	1	1.26mi
8845 E Jefferson Ave Unit 205 Detroit, MI	2.0	1.5	960	$1,425	$1.48	43d	1	1.26mi
8845 E Jefferson Ave Unit 206 Detroit, MI	2.0	1.5	1230	$1,660	$1.35	43d	1	1.26mi
8845 E Jefferson Ave Unit 302 Detroit, MI	2.0	2.0	885	$1,460	$1.65	43d	1	1.26mi
8845 E Jefferson Ave Unit 204 Detroit, MI	2.0	1.5	1150	$2,350	$2.04	43d	1	1.26mi
2280 E Vernor Hwy Detroit, MI	1.0–3.0	1.0–2.0	872	$919	$1.05	20d	1	1.28mi
8925 E Jefferson Ave Detroit, MI	1.0–2.0	1.0–2.0	1050	$1,945	$1.85	43d	9	1.30mi
1130 Holcomb St Detroit, MI	2.0	1.0	550	$1,095	$1.99	1d	18	1.35mi
1575 Cherboneau Pl #61 Detroit, MI	1.0	1.0	720	$1,300	$1.81	3d	1	1.37mi
1575 Cherboneau Pl Unit D-56 Detroit, MI	1.0	1.0	800	$1,375	$1.72	43d	1	1.37mi

HOA detail condo

• Monthly dues: $775 · $9,300/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $124,000 Active 84 DOM
2. 2026-06-17
   days on market $124,000 Active 83 DOM
3. 2026-06-15
   days on market $124,000 Active 81 DOM
4. 2026-06-13
   days on market $124,000 Active 79 DOM
5. 2026-06-13
   days on market $124,000 Active 78 DOM
6. 2026-06-09
   pricedays on market $124,000 Active 75 DOM
7. 2026-06-08
   days on market $125,000 Active 74 DOM
8. 2026-06-07
   days on market $125,000 Active 73 DOM
9. 2026-06-04
   days on market $125,000 Active 70 DOM
10. 2026-06-03
    days on market $125,000 Active 69 DOM
11. 2026-06-02
    days on market $125,000 Active 68 DOM
12. 2026-06-01
    days on market $125,000 Active 67 DOM
13. 2026-05-31
    days on market $125,000 Active 66 DOM
14. 2026-04-09
    price $125,000 938-char remark

    Show marketing remark (960 chars)

    BACK ON THE MARKET NO FAULT TO SELLER! Experience urban living at its finest in this spacious 2-bedroom loft, perfectly situated in a gated community with covered parking for added convenience and security. This modern residence combines open-concept design with industrial charm—featuring high ceilings, and expansive windows. Just outside the highly sought-after Island View neighborhood, this loft offers the best of both worlds: vibrant city living with quick access to scenic green spaces. Enjoy being close to Detroit’s dining, entertainment, and waterfront attractions such as the River Walk, Eastern Market, West Village and Belle Isle while coming home to a private, well-maintained community that offers comfort and peace of mind. Whether you’re a professional, creator, or savvy investor, this property delivers the perfect balance of style, location, and lifestyle in the heart of Detroit’s growing downtown corridor. BATVAI

15. 2026-04-09
    price $125,000 960-char remark

    Show marketing remark (960 chars)

    BACK ON THE MARKET NO FAULT TO SELLER! Experience urban living at its finest in this spacious 2-bedroom loft, perfectly situated in a gated community with covered parking for added convenience and security. This modern residence combines open-concept design with industrial charm—featuring high ceilings, and expansive windows. Just outside the highly sought-after Island View neighborhood, this loft offers the best of both worlds: vibrant city living with quick access to scenic green spaces. Enjoy being close to Detroit’s dining, entertainment, and waterfront attractions such as the River Walk, Eastern Market, West Village and Belle Isle while coming home to a private, well-maintained community that offers comfort and peace of mind. Whether you’re a professional, creator, or savvy investor, this property delivers the perfect balance of style, location, and lifestyle in the heart of Detroit’s growing downtown corridor. BATVAI

16. 2026-03-26
    listed $135,000 Active 938-char remark

    Show marketing remark (960 chars)

    BACK ON THE MARKET NO FAULT TO SELLER! Experience urban living at its finest in this spacious 2-bedroom loft, perfectly situated in a gated community with covered parking for added convenience and security. This modern residence combines open-concept design with industrial charm—featuring high ceilings, and expansive windows. Just outside the highly sought-after Island View neighborhood, this loft offers the best of both worlds: vibrant city living with quick access to scenic green spaces. Enjoy being close to Detroit’s dining, entertainment, and waterfront attractions such as the River Walk, Eastern Market, West Village and Belle Isle while coming home to a private, well-maintained community that offers comfort and peace of mind. Whether you’re a professional, creator, or savvy investor, this property delivers the perfect balance of style, location, and lifestyle in the heart of Detroit’s growing downtown corridor. BATVAI

17. 2026-03-26
    listed $135,000 Active 960-char remark

    Show marketing remark (960 chars)

    BACK ON THE MARKET NO FAULT TO SELLER! Experience urban living at its finest in this spacious 2-bedroom loft, perfectly situated in a gated community with covered parking for added convenience and security. This modern residence combines open-concept design with industrial charm—featuring high ceilings, and expansive windows. Just outside the highly sought-after Island View neighborhood, this loft offers the best of both worlds: vibrant city living with quick access to scenic green spaces. Enjoy being close to Detroit’s dining, entertainment, and waterfront attractions such as the River Walk, Eastern Market, West Village and Belle Isle while coming home to a private, well-maintained community that offers comfort and peace of mind. Whether you’re a professional, creator, or savvy investor, this property delivers the perfect balance of style, location, and lifestyle in the heart of Detroit’s growing downtown corridor. BATVAI

18. 2026-03-01
    historical
19. 2026-03-01
    historical
20. 2026-01-18
    price $142,999
21. 2026-01-18
    price $142,999
22. 2025-11-17
    price $145,000
23. 2025-11-17
    price $145,000
24. 2025-11-10
    price $149,000
25. 2025-11-10
    price $149,000
26. 2025-10-22
    listed $149,999 Active
27. 2025-10-22
    listed $149,999 Active
28. 2010-09-07
    soldstatus $26,731
29. 2009-08-13
    soldstatus $152,262

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

Taxation est. · year 1

• Rental income: $19,965
• − Mortgage interest: −$6,946
• − Property taxes: −$1,860
• − Insurance: −$620
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − HOA: −$9,300
• − Depreciation: −$3,607
• Taxable loss: −$5,562
• Est. tax savings @ 24.0%: +$1,335
• After-tax cash flow: $-2,476/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): 20,848
• Household income: $47,831
• Rent vs Own: 74.2% rent · 25.8% own
• Severe rent burden: 2017.0

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 (74%)
• Race & ethnicity: Black 74% White 18% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% 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: ▼ -2.79%
• Current HPI: 136.6328
• Rent YoY: ▲ 3.53%
• 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

-17.9% since first listed

16 events — show timeline

• 2026-04-09 Price Changed $125,000 MiRealSource-MiMLS
• 2026-04-09 Price Changed $125,000 REALCOMP
• 2026-03-26 Listed $135,000 REALCOMP
• 2026-03-26 Listed $135,000 MiRealSource-MiMLS
• 2026-03-01 Listing Removed — REALCOMP
• 2026-03-01 Listing Removed — MiRealSource-MiMLS
• 2026-01-18 Price Changed $142,999 MiRealSource-MiMLS
• 2026-01-18 Price Changed $142,999 REALCOMP
• 2025-11-17 Price Changed $145,000 MiRealSource-MiMLS
• 2025-11-17 Price Changed $145,000 REALCOMP
• 2025-11-10 Price Changed $149,000 MiRealSource-MiMLS
• 2025-11-10 Price Changed $149,000 REALCOMP
• 2025-10-22 Listed $149,999 REALCOMP
• 2025-10-22 Listed $149,999 MiRealSource-MiMLS
• 2010-09-07 Sold (Public Records) $26,731 Public Records
• 2009-08-13 Sold (Public Records) $152,262 Public Records

Property tax history

+27.4%/yr

Latest (2025): $7,662 · +23.0% YoY. Source: county tax records.