6638 Sylvester St · Detroit, MI 48207

$54,900

4 bd · 1.5 ba · 1,822 sqft · SingleFamily public records · 8 Days on market

Built 1906 1,307 sqft lot

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Investor opportunity in the City of Detroit! This 2-story single-family home offers 4 bedrooms, 1 bathroom, and approximately 1,822 sq ft of living space. Built in 1906, the property features a traditional layout with living, dining, and kitchen areas on the main level, and four bedrooms on the upper level. Property includes an unfinished basement (approx. 329 sq ft), carport parking, and public utilities. Appliances such as refrigerator, stove, and microwave are included. This property is being sold * * AS-IS * * , with no repairs or warranties provided by the seller. Great opportunity for investors or buyers looking for a value-add renovation project in a well-established Detroit neighborhood.

Key facts

• Unfinished basement
• Carport parking
• Public utilities

Tags

• UNFINISHED BASEMENT
• CARPORT PARKING
• PUBLIC UTILITIES
• VALUE-ADD RENOVATION PROJECT
• WELL-ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Brick construction; Asphalt/composition roof
• Exterior features: Paved road access; No pool

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Wood stove heating; No central air conditioning
• Interior features: Wood burning stove / fireplace; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Cap rate 30.9% vs local median 10.0% 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: Rents rising (+3.5%/yr); 245 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1,872/mo this rent would consume 47% of the median local household income ($48k/yr) (locally 2017% 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 (-2.8%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 (-2.8% appreciation + 3.5% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,900

Questions for the listing agent

1. Built in 1906 — 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: 3.41% ✓
• Cap rate: 30.93%
• Cash-on-cash: 87.98%
• DSCR: 4.91
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $233,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3132 Helen St	0.38mi	4/1.0	1,951 (+7%)	1mo	$125,000	$64	67
3752 Van Dyke St	0.63mi	4/2.5	1,746 (-4%)	4mo	$65,000	$37	57
3498 Townsend St	0.48mi	4/2.0	2,006 (+10%)	3mo	$89,000	$44	56
7723 E Canfield St	0.55mi	3/2.0 (-1)	1,954 (+7%)	3mo	$27,500	$14	52
3517 Townsend St	0.46mi	4/3.5	1,850 (+2%)	19mo	$300,000	$162	52
3735 Seyburn St	0.53mi	4/2.5	1,986 (+9%)	10mo	$311,000	$157	48
4518 Van Dyke St	0.69mi	4/1.5	1,764 (-3%)	19mo	$120,000	$68	47
2909 Sheridan St	0.59mi	3/2.0 (-1)	1,790 (-2%)	22mo	$172,500	$96	44
2429 Sheridan St	0.74mi	4/2.0	1,800 (-1%)	21mo	$275,000	$153	44
4702 Field St	0.50mi	5/2.5 (+1)	2,026 (+11%)	9mo	$260,000	$128	42
2516 Baldwin St	0.74mi	3/2.5 (-1)	1,690 (-7%)	4mo	$315,000	$186	41
3499 Townsend St	0.46mi	3/2.5 (-1)	1,590 (-13%)	17mo	$276,000	$174	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 89.3%
• Equity multiple: 5.19×
• Total profit: $64,382
• Equity at exit: $8,698

10-year hold

• IRR: 92.3%
• Equity multiple: 10.96×
• Total profit: $153,115
• Equity at exit: $5,631

Cash invested: $15,372 (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: 245
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,872 high
• Mortgage (P&I): −$288
• Tax from tax record: −$41 /mo · $492/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $1,127

Break-even live

Break-even rent $445

Max offer price $54,900

Occupancy floor 35%

Sensitivity live

Price	-10% $1,158	-5% $1,143	+0% $1,127	+5% $1,112	+10% $1,096
Rent	-10% $979	-5% $1,053	+0% $1,127	+5% $1,201	+10% $1,275
Rate	-1.0pp $1,155	-0.5pp $1,141	base $1,127	+0.5pp $1,113	+1.0pp $1,098

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	45d	1	0.16mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	18d	1	0.50mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	25d	1	0.94mi
1738 Canton St Unit 1 Detroit, MI	4.0	1.0	2244	$1,650	$0.74	45d	1	0.94mi
1348 Village Dr Detroit, MI	3.0	2.5	2100	$2,295	$1.09	25d	1	1.26mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	19d	1	1.40mi

Listing history 7 events

1. 2026-06-09
   days on market $54,900 Active 8 DOM
2. 2026-06-08
   days on market $54,900 Active 7 DOM
3. 2026-06-07
   days on market $54,900 Active 6 DOM
4. 2026-06-04
   days on market $54,900 Active 3 DOM
5. 2026-06-03
   days on market $54,900 Active 2 DOM
6. 2026-06-02
   remarks 699-char remark
7. 2026-06-02
   listed $54,900 Active 1 DOM

ⓘ 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: $492 · $41/mo
• Projected year-2 tax: $669 · $56/mo
• Expected delta: +$177/yr (+$15/mo · 35.9%)

ⓘ 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: $22,464
• − Mortgage interest: −$3,075
• − Property taxes: −$492
• − Insurance: −$274
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − Depreciation: −$1,597
• Taxable income: $13,430
• Est. tax owed @ 24.0%: −$3,223
• After-tax cash flow: $10,301/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

+0.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $54,900 REALCOMP
• 2026-06-01 Listed $54,900 MiRealSource-MiMLS

Property tax history

+0.6%/yr

Latest (2025): $492 · -6.4% YoY. Source: county tax records.