9721 Otsego St · Detroit, MI 48204

$50,000

6 bd · 1.5 ba · 1,550 sqft · Townhouse public records · 7 Days on market

Built 1921 3,920 sqft lot Est $66k · 25% under

---

Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Investor Special! Cashflow potential in Detroit's 48204 zip codes where rents are rising. This multifamily property is perfect for investors looking to add doors and build long term equity. Property needs work. Priced to sale. Send all offers to porter. [email protected].

Key facts

• 3,920 sq ft lot
• Built 1921
• Listed 7 days

Property features AI

Exterior

• Utilities: Natural gas connected
• Home design: Single-family residence; Other architectural style
• Construction: Built in 1921; Vinyl siding
• Exterior features: Public water; Lot about 0.09 acres

Interior

• Bedrooms: 2 total rooms (includes bedrooms and living areas)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Fireplace; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 30.1% 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: 244 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,737/mo this rent would consume 60% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 9y 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 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.47% ✓
• Cap rate: 30.12%
• Cash-on-cash: 85.08%
• DSCR: 4.79
• GRM: 2.4

CMA / ARV

• ARV (median comp): $66,296
• List price: $50,000
• Delta: 43.30%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 94.6%
• Equity multiple: 7.46×
• Total profit: $90,500
• Equity at exit: $45,044

10-year hold

• IRR: 89.6%
• Equity multiple: 16.49×
• Total profit: $216,885
• Equity at exit: $97,139

Cash invested: $14,000 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,737 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $993

Break-even live

Break-even rent $480

Max offer price $50,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,021	-5% $1,007	+0% $993	+5% $978	+10% $964
Rent	-10% $855	-5% $924	+0% $993	+5% $1,061	+10% $1,130
Rate	-1.0pp $1,018	-0.5pp $1,005	base $993	+0.5pp $980	+1.0pp $967

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4114 W Euclid St Detroit, MI	6.0	2.0	1500	$1,800	$1.20	44d	1	0.78mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	0.78mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.26mi

Listing history 31 events

1. 2026-06-07
   status $50,000 Pending 7 DOM
2. 2026-06-04
   days on market $50,000 Active 7 DOM

   Show marketing remark (275 chars)

   Investor Special! Cashflow potential in Detroit's 48204 zip codes where rents are rising. This multifamily property is perfect for investors looking to add doors and build long term equity. Property needs work. Priced to sale. Send all offers to porter. [email protected].

3. 2026-06-03
   days on market $50,000 Active 6 DOM
4. 2026-06-02
   days on market $50,000 Active 5 DOM
5. 2026-06-01
   days on market $50,000 Active 4 DOM
6. 2026-05-31
   days on market $50,000 Active 3 DOM
7. 2026-05-12
   historical
8. 2026-05-12
   historical
9. 2026-04-15
   price $95,000
10. 2026-04-15
    price $95,000
11. 2026-04-14
    price $103,000
12. 2026-04-13
    price $103,000
13. 2026-03-23
    price $105,000
14. 2026-03-23
    price $105,000
15. 2026-03-17
    price $110,000
16. 2026-03-16
    price $110,000
17. 2026-02-27
    listed $115,000 Active
18. 2026-02-27
    listed $115,000 Active
19. 2026-02-12
    historical
20. 2026-02-12
    historical
21. 2025-08-18
    listed $130,000 Active
22. 2025-08-18
    listed $130,000 Active
23. 2022-03-14
    soldstatus $118,000
24. 2018-06-01
    historical
25. 2018-06-01
    historical
26. 2018-03-07
    listed $13,999 Active
27. 2018-03-07
    listed $13,999 Active
28. 2018-03-01
    historical
29. 2018-03-01
    historical
30. 2017-12-11
    listed $19,000 Active
31. 2017-12-11
    listed $19,000 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: $1,159 · $97/mo
• Projected year-2 tax: $1,159 · $97/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: $20,844
• − Mortgage interest: −$2,801
• − Property taxes: −$1,159
• − Insurance: −$250
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$1,455
• Taxable income: $11,845
• Est. tax owed @ 24.0%: −$2,843
• After-tax cash flow: $9,069/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+163.2% since first listed

31 events — show timeline

• 2026-06-04 Pending — MiRealSource-MiMLS
• 2026-06-04 Pending — REALCOMP
• 2026-06-04 Pending — SW Michigan MLS
• 2026-05-28 Listed $50,000 SW Michigan MLS
• 2026-05-28 Listed $50,000 REALCOMP
• 2026-05-28 Listed $50,000 MiRealSource-MiMLS
• 2026-05-12 Listing Removed — MiRealSource-MiMLS
• 2026-05-12 Listing Removed — REALCOMP
• 2026-04-15 Price Changed $95,000 MiRealSource-MiMLS
• 2026-04-15 Price Changed $95,000 REALCOMP
• 2026-04-14 Price Changed $103,000 MiRealSource-MiMLS
• 2026-04-13 Price Changed $103,000 REALCOMP
• 2026-03-23 Price Changed $105,000 MiRealSource-MiMLS
• 2026-03-23 Price Changed $105,000 REALCOMP
• 2026-03-17 Price Changed $110,000 MiRealSource-MiMLS
• 2026-03-16 Price Changed $110,000 REALCOMP
• 2026-02-27 Listed $115,000 REALCOMP
• 2026-02-27 Listed $115,000 MiRealSource-MiMLS
• 2026-02-12 Listing Removed — MiRealSource-MiMLS
• 2026-02-12 Listing Removed — REALCOMP
• 2025-08-18 Listed $130,000 MiRealSource-MiMLS
• 2025-08-18 Listed $130,000 REALCOMP
• 2022-03-14 Sold (Public Records) $118,000 Public Records
• 2018-06-01 Listing Removed — MiRealSource-MiMLS
• 2018-06-01 Listing Removed — REALCOMP
• 2018-03-07 Listed $13,999 REALCOMP
• 2018-03-07 Listed $13,999 MiRealSource-MiMLS
• 2018-03-01 Listing Removed — MiRealSource-MiMLS
• 2018-03-01 Listing Removed — REALCOMP
• 2017-12-11 Listed $19,000 REALCOMP
• 2017-12-11 Listed $19,000 MiRealSource-MiMLS

Property tax history

+1.9%/yr

Latest (2025): $1,159 · +107.7% YoY. Source: county tax records.