560 Woodland St · Detroit, MI 48202

$109,000

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 31 Days on market

Built 1911 5,227 sqft lot

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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 +24.6/30.0
• 1% rule +9.8/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover your new home close to downtown Detroit! This expansive property boasts three generously sized bedrooms with ample natural light. The property needs just a few touch-ups and can be a great buy for both homeowners and investors alike.

Key facts

• 5,227 sq ft lot
• Built 1911
• Listed 31 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation
• Exterior features: Paved road access; Lot roughly 0.12 acres (40 x 124.75)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: 6 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $106k (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 falling (-5.1%/yr); 257 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• This rent runs 44% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 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 31 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1911 — 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: 1.48% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $68,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 Harmon St	0.19mi	4/1.0 (+1)	1,375 (+2%)	6mo	$57,000	$41	77
535 Woodland St	0.04mi	3/2.0	1,472 (+10%)	2mo	$170,000	$115	77
207 Connecticut St	0.16mi	3/1.0	1,472 (+10%)	9mo	$35,000	$24	69
530 Kenilworth St	0.65mi	3/1.0	1,323 (-2%)	4mo	$68,000	$51	64
137 Rhode Island St	0.40mi	3/2.0	1,405 (+4%)	12mo	$47,000	$33	60
225 Farrand Park	0.60mi	3/1.0	1,458 (+8%)	2mo	$20,000	$14	56
202 Farrand Park	0.56mi	3/1.0	1,482 (+10%)	4mo	$40,000	$27	53
11609 Saint Aubin St	0.72mi	3/1.0	1,249 (-7%)	6mo	$200,000	$160	50
11581 Saint Aubin St	0.72mi	2/1.0 (-1)	1,326 (-1%)	12mo	$200,000	$151	50
254 Colorado St	0.43mi	3/1.0	1,149 (-14%)	10mo	$125,000	$109	47
11591 Saint Aubin St	0.72mi	2/1.0 (-1)	1,240 (-8%)	8mo	$128,000	$103	42
633 Owen St	0.75mi	3/1.0	1,461 (+9%)	12mo	$40,000	$27	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-7,793
• Equity at exit: $16,252

10-year hold

• IRR: -3.4%
• Equity multiple: 0.81×
• Total profit: $-5,718
• Equity at exit: $9,424

Cash invested: $30,520 (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 48202

• Rents YoY: -5.1%
• Active inventory: 257
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,618 high
• Mortgage (P&I): −$572
• Tax from tax record: −$435 /mo · $5,218/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $226

Break-even live

Break-even rent $1,331

Max offer price $109,000

Occupancy floor 81%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	24d	1	0.06mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	0.28mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	0.40mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	0.51mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	17d	1	0.53mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	43d	1	0.59mi
156 Leicester Ct Apt 2 Detroit, MI	3.0	1.0	1000	$1,250	$1.25	43d	1	0.74mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	0.78mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	0.78mi
70 Clairmount Ave Unit 2B Detroit, MI	2.0	1.0	955	$1,400	$1.47	2d	1	0.86mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	10d	1	0.92mi
2315 Yemans St Hamtramck, MI	2.0	2.5	1328	$1,600	$1.20	17d	1	0.95mi
557 Hague St Detroit, MI	2.0	1.0	1250	$1,400	$1.12	43d	1	1.03mi
2297 Florian St Unit 2297 Hamtramck, MI	2.0	1.0	1500	$1,250	$0.83	24d	1	1.05mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	43d	1	1.07mi
2716 Belmont St Unit B Hamtramck, MI	2.0	1.0	965	$775	$0.80	20d	1	1.11mi
528 E Philadelphia St Detroit, MI	3.0	1.0	1625	$2,400	$1.48	1d	1	1.12mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	24d	1	1.15mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	43d	1	1.15mi
8416 Brush St Detroit, MI	3.0	1.5	1200	$2,200	$1.83	1d	1	1.16mi
8410 Brush St Detroit, MI	3.0	2.5	1300	$2,200	$1.69	1d	1	1.16mi
719 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	20d	1	1.17mi
715 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	20d	1	1.18mi
68 E Philadelphia St Detroit, MI	3.0	2.0	1000	$1,750	$1.75	43d	1	1.18mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	12d	1	1.29mi
100 Seward Ave Detroit, MI	2.0	1.0–2.0	905	$1,575	$1.74	22d	1	1.41mi
59 Seward St Detroit, MI	1.0–2.0	1.0	976	$1,363	$1.40	43d	1	1.43mi
3191 Belmont St Hamtramck, MI	2.0	1.0	900	$1,350	$1.50	24d	1	1.43mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.48mi
700 Seward Ave Detroit, MI	2.0	1.0	988	$1,845	$1.87	1d	2	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $109,000 Active 31 DOM
2. 2026-06-17
   days on market $109,000 Active 30 DOM
3. 2026-06-15
   days on market $109,000 Active 28 DOM
4. 2026-06-13
   days on market $109,000 Active 26 DOM
5. 2026-06-13
   days on market $109,000 Active 25 DOM
6. 2026-06-09
   days on market $109,000 Active 22 DOM
7. 2026-06-08
   days on market $109,000 Active 21 DOM
8. 2026-06-07
   days on market $109,000 Active 20 DOM
9. 2026-06-04
   days on market $109,000 Active 17 DOM
10. 2026-06-03
    days on market $109,000 Active 16 DOM
11. 2026-06-02
    pricedays on market $109,000 Active 15 DOM
12. 2026-06-01
    days on market $124,000 Active 14 DOM
13. 2026-05-31
    days on market $124,000 Active 13 DOM
14. 2026-05-16
    listed $124,000 Active

    Show marketing remark (242 chars)

    Discover your new home close to downtown Detroit! This expansive property boasts three generously sized bedrooms with ample natural light. The property needs just a few touch-ups and can be a great buy for both homeowners and investors alike.

15. 2026-05-16
    listed $124,000 Active 242-char remark

    Show marketing remark (242 chars)

    Discover your new home close to downtown Detroit! This expansive property boasts three generously sized bedrooms with ample natural light. The property needs just a few touch-ups and can be a great buy for both homeowners and investors alike.

ⓘ 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: $5,218 · $435/mo
• Projected year-2 tax: $5,218 · $435/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 ≥96°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: $19,413
• − Mortgage interest: −$6,106
• − Property taxes: −$5,218
• − Insurance: −$545
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − Depreciation: −$3,171
• Taxable income: $1,267
• Est. tax owed @ 24.0%: −$304
• After-tax cash flow: $2,409/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): 15,780
• Household income: $43,627
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1258.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 60% White 26% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -239.24%
• Current HPI: 145.5509
• Rent YoY: ▼ -5.13%
• 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

• 2026-05-16 Listed $124,000 MiRealSource-MiMLS
• 2026-05-16 Listed $124,000 REALCOMP

Property tax history

+15.9%/yr

Latest (2025): $5,218 · +4074.5% YoY. Source: county tax records.