2219 Vermont St · Detroit, MI 48216

$219,900

3 bd · 1.0 ba · 1,147 sqft · SingleFamily public records · 66 Days on market

Built 1900 3,049 sqft lot $192/sqft · at area comps Est $217k · at est. ↓ 12% since listing

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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 +26.0/30.0
• DSCR +8.8/10.0
• 1% rule +8.1/10.0
• ARV discount +6.9/15.0
• Rent growth +4.3/5.0
• Livability +3.7/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Charming Renovator’s Opportunity in Detroit’s Growing Southwest. Welcome to 2219 Vermont St, a rare investment opportunity in one of Detroit’s most sought-after up-and-coming areas. This solid structure gutted to the studs gives you a blank slate to build out a modern residence or income property exactly to your specifications. With clean lines, open spaces, and no interior finishes left behind, this home is ready for a full transformation — ideal for developers, flippers, or DIY visionaries. Prime Location with Nearby Amenities. This property enjoys a fantastic location in Detroit’s vibrant Southwest District (48216), offering strong upside and access to the city’s best assets: Corktown & North Corktown access — Just minutes to Michigan Avenue’s dining, bars, breweries, and entertainment, one of Detroit’s oldest and coolest neighborhoods experiencing significant reinvestment and growth. Close to Downtown — Quick rides to Detroit’s business, sports, culture, and entertainment districts, including Campus Martius Park and the RiverWalk just a short drive away. Walkable local hotspots — Mexicantown International and local markets are within easy reach, offering world-class food and culture just minutes from your front door. Parks & Recreation — Easy access to nearby green spaces and future hardscapes like the Joe Louis Greenway, connecting neighborhoods and providing options for walking, biking, and outdoor activities. Healthcare & Transit — Major medical facilities, transit routes, and freeway access make commuting or urban living convenient. Whether you’re planning a modern infill build, creating long-term rental units, or flipping for profit, 2219 Vermont St sits in a neighborhood on the rise — with proximity to shops, restaurants, parks, and Detroit’s cultural heartbeat.

Key facts

• Nearby amenities
• Transit routes
• Solid structure

Tags

• PRIME LOCATION
• NEARBY AMENITIES
• SOLID STRUCTURE
• EASY ACCESS TO PARKS
• MAJOR MEDICAL FACILITIES
• TRANSIT ROUTES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $207k (6.0% 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 rising fast (+7.3%/yr); 105 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,891/mo this rent would consume 78% of the median local household income ($44k/yr) (locally 431% 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 $2k of loan paydown is wiped out by about $7k 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 + 7.3% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 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: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1900 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.31% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.70%
• DSCR: 1.48
• GRM: 6.3

CMA / ARV

• ARV (median comp): $217,035
• List price: $219,900
• Delta: 1.32%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1731 Butternut St	0.49mi	3/1.0	1,024 (-11%)	8mo	$109,000	$106	53
2826 16th St	0.45mi	3/2.0	1,292 (+13%)	2mo	$217,035	$168	53
1725 Butternut St	0.49mi	3/1.0	1,024 (-11%)	8mo	$109,000	$106	53
1539 Sycamore St	0.68mi	2/1.5 (-1)	1,244 (+8%)	8mo	$450,000	$362	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 · 7.3% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.20×
• Total profit: $12,564
• Equity at exit: $32,788

10-year hold

• IRR: 18.4%
• Equity multiple: 2.87×
• Total profit: $115,211
• Equity at exit: $19,013

Cash invested: $61,572 (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 48216

• Home prices YoY: -2.3%
• Rents YoY: 7.3%
• Active inventory: 105
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,891 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$490 /mo · $5,881/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $549

Break-even live

Break-even rent $2,196

Max offer price $219,900

Occupancy floor 76%

Sensitivity live

Price	-10% $674	-5% $611	+0% $549	+5% $487	+10% $425
Rent	-10% $321	-5% $435	+0% $549	+5% $663	+10% $777
Rate	-1.0pp $660	-0.5pp $605	base $549	+0.5pp $492	+1.0pp $434

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2223 Wabash St Detroit, MI	2.0	2.0	1300	$2,800	$2.15	13d	1	0.10mi
1611 Michigan Ave Detroit, MI	1.0–2.0	1.0–2.5	1487	$4,750	$3.19	2d	8	0.21mi
1620 Michigan Ave Detroit, MI	2.0	1.0–2.0	1052	$3,500	$3.33	2d	1	0.27mi
1640 Bagley St #13 Detroit, MI	2.0	2.5	1400	$4,250	$3.04	44d	1	0.31mi
2732 Harrison St Detroit, MI	2.0	2.5	1320	$2,750	$2.08	44d	1	0.35mi
3309 14th St Detroit, MI	1.0–3.0	1.0–2.5	942	$2,230	$2.37	2d	11	0.61mi
3143 Trumbull Unit 301 Detroit, MI	2.0	1.0	1000	$1,650	$1.65	22d	1	0.62mi
2835 23rd St Unit 2 Detroit, MI	3.0	2.0	1100	$1,450	$1.32	17d	1	0.92mi
3984 Commonwealth St Unit B Detroit, MI	3.0	2.0	1100	$2,400	$2.18	25d	1	0.99mi
3998 15th St Unit 1 Detroit, MI	2.0	1.0	1200	$1,300	$1.08	44d	1	1.02mi
1001 W Jefferson Ave Unit 300-22I Detroit, MI	2.0	2.0	1040	$2,000	$1.92	24d	1	1.03mi
525 W Lafayette Blvd Detroit, MI	2.0–3.0	2.0	1546	$4,250	$2.75	44d	3	1.04mi
525 W Lafayette Blvd Detroit, MI	1.0–3.0	1.0–2.0	1546	$4,250	$2.75	3d	4	1.04mi
150 Bagley St Detroit, MI	1.0–2.0	1.0–2.5	960	$4,100	$4.27	18d	1	1.07mi
415 Clifford St Detroit, MI	2.0	1.0–2.0	755	$1,999	$2.65	5d	9	1.08mi
1729 Vinewood St Unit 2 Detroit, MI	2.0	1.0	893	$775	$0.87	13d	1	1.09mi
1265 Washington Blvd Detroit, MI	2.0	1.0–2.5	944	$5,560	$5.89	2d	9	1.11mi
76 W Adams Ave Detroit, MI	1.0–2.0	1.0–2.0	881	$2,787	$3.16	25d	10	1.12mi
321 W Lafayette Blvd Detroit, MI	1.0–2.0	1.0–2.0	834	$3,135	$3.76	3d	4	1.14mi
944 W Alexandrine St Unit 1 Detroit, MI	3.0	1.0	1100	$1,950	$1.77	44d	1	1.18mi
1249 Griswold St Unit 0309 Detroit, MI	2.0	1.0	864	$1,999	$2.31	44d	1	1.19mi
1215 Griswold St Detroit, MI	2.0–3.0	2.0	912	$2,420	$2.65	3d	2	1.19mi
711 W Alexandrine St Detroit, MI	1.0–2.0	1.0–1.5	742	$1,840	$2.48	5d	4	1.20mi
111 State St Unit 1024673P Detroit, MI	2.0	2.0	1291	$8,342	$6.46	24d	1	1.22mi
111 State St Unit 1024679P Detroit, MI	2.0	2.0	1248	$7,718	$6.18	13d	1	1.22mi
1133 Griswold St Detroit, MI	2.0	2.0	956	$2,400	$2.51	24d	1	1.23mi
10 Witherell St Detroit, MI	1.0–2.0	1.0–2.5	1394	$6,000	$4.30	5d	8	1.24mi
1212 Griswold St Unit 1024685P Detroit, MI	2.0	2.0	1291	$11,873	$9.20	24d	1	1.25mi
14 Charlotte St Detroit, MI	1.0–2.0	1.0	680	$1,825	$2.68	44d	2	1.25mi
66 Winder St #458 Detroit, MI	2.0	2.0	1300	$2,600	$2.00	25d	1	1.27mi
675 W Willis St Detroit, MI	1.0–3.0	1.0	631	$1,695	$2.69	2d	4	1.28mi
3439 Woodward Ave Detroit, MI	2.0	1.0–2.0	901	$3,400	$3.77	2d	5	1.29mi
4619 16th St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	3d	1	1.30mi
40 Davenport St Detroit, MI	2.0	1.0–2.0	517	$2,065	$3.99	2d	9	1.34mi
640 W Willis St Detroit, MI	1.0–2.0	1.0	1037	$1,750	$1.69	5d	10	1.34mi
701 W Canfield St Unit 4 Detroit, MI	2.0	1.5	1094	$3,000	$2.74	44d	1	1.35mi
701 W Canfield St Unit 1 Detroit, MI	2.0	1.5	1144	$3,250	$2.84	44d	1	1.35mi
677 W Canfield St Detroit, MI	2.0	1.5	1200	$2,750	$2.29	18d	1	1.36mi
669 W Canfield St Unit 2 Detroit, MI	2.0	2.0	1500	$2,400	$1.60	44d	1	1.37mi
1323 Broadway St Detroit, MI	2.0	1.0	1500	$2,200	$1.47	44d	1	1.39mi

Listing history 24 events

1. 2026-06-18
   days on market $219,900 Active 66 DOM
2. 2026-06-17
   days on market $219,900 Active 65 DOM
3. 2026-06-15
   days on market $219,900 Active 63 DOM
4. 2026-06-13
   days on market $219,900 Active 61 DOM
5. 2026-06-13
   days on market $219,900 Active 60 DOM
6. 2026-06-09
   days on market $219,900 Active 57 DOM
7. 2026-06-08
   days on market $219,900 Active 56 DOM
8. 2026-06-07
   days on market $219,900 Active 55 DOM
9. 2026-06-04
   days on market $219,900 Active 52 DOM
10. 2026-06-03
    days on market $219,900 Active 51 DOM
11. 2026-06-02
    days on market $219,900 Active 50 DOM
12. 2026-06-01
    days on market $219,900 Active 49 DOM
13. 2026-05-31
    days on market $219,900 Active 48 DOM
14. 2026-04-13
    listed $219,900 Active 1922-char remark

    Show marketing remark (1922 chars)

    Charming Renovator’s Opportunity in Detroit’s Growing Southwest. Welcome to 2219 Vermont St, a rare investment opportunity in one of Detroit’s most sought-after up-and-coming areas. This solid structure gutted to the studs gives you a blank slate to build out a modern residence or income property exactly to your specifications. With clean lines, open spaces, and no interior finishes left behind, this home is ready for a full transformation — ideal for developers, flippers, or DIY visionaries. Prime Location with Nearby Amenities. This property enjoys a fantastic location in Detroit’s vibrant Southwest District (48216), offering strong upside and access to the city’s best assets: Corktown & North Corktown access — Just minutes to Michigan Avenue’s dining, bars, breweries, and entertainment, one of Detroit’s oldest and coolest neighborhoods experiencing significant reinvestment and growth. Close to Downtown — Quick rides to Detroit’s business, sports, culture, and entertainment districts, including Campus Martius Park and the RiverWalk just a short drive away. Walkable local hotspots — Mexicantown International and local markets are within easy reach, offering world-class food and culture just minutes from your front door. Parks & Recreation — Easy access to nearby green spaces and future hardscapes like the Joe Louis Greenway, connecting neighborhoods and providing options for walking, biking, and outdoor activities. Healthcare & Transit — Major medical facilities, transit routes, and freeway access make commuting or urban living convenient. Whether you’re planning a modern infill build, creating long-term rental units, or flipping for profit, 2219 Vermont St sits in a neighborhood on the rise — with proximity to shops, restaurants, parks, and Detroit’s cultural heartbeat.

15. 2026-04-11
    listed $219,900 Active 1834-char remark

    Show marketing remark (1834 chars)

    Charming Renovator's Opportunity in Detroit's Growing Southwest. Welcome to 2219 Vermont St, a rare investment opportunity in one of Detroit's most sought-after up-and-coming areas. This solid structure gutted to the studs gives you a blank slate to build out a modern residence or income property exactly to your specifications. With clean lines, open spaces, and no interior finishes left behind, this home is ready for a full transformation - ideal for developers, flippers, or DIY visionaries. Prime Location with Nearby Amenities. This property enjoys a fantastic location in Detroit's vibrant Southwest District (48216), offering strong upside and access to the city's best assets: Corktown & North Corktown access - Just minutes to Michigan Avenue's dining, bars, breweries, and entertainment, one of Detroit's oldest and coolest neighborhoods experiencing significant reinvestment and growth. Close to Downtown - Quick rides to Detroit's business, sports, culture, and entertainment districts, including Campus Martius Park and the RiverWalk just a short drive away. Walkable local hotspots - Mexicantown International and local markets are within easy reach, offering world-class food and culture just minutes from your front door. Parks & Recreation - Easy access to nearby green spaces and future hardscapes like the Joe Louis Greenway, connecting neighborhoods and providing options for walking, biking, and outdoor activities. Healthcare & Transit - Major medical facilities, transit routes, and freeway access make commuting or urban living convenient. Whether you're planning a modern infill build, creating long-term rental units, or flipping for profit, 2219 Vermont St sits in a neighborhood on the rise - with proximity to shops, restaurants, parks, and Detroit's cultural heartbeat.

16. 2026-03-10
    status Pending
17. 2026-03-10
    status Pending
18. 2026-03-10
    historical Accepting Backup Offers
19. 2026-03-10
    historical Active Under Contract
20. 2026-03-10
    historical
21. 2026-03-10
    historical
22. 2026-03-04
    listed $250,000 Active
23. 2026-03-04
    listed $250,000 Active
24. 2026-03-02
    historical

ⓘ 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: $5,881 · $490/mo
• Projected year-2 tax: $5,881 · $490/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 5/10 Major FEMA zone X (unshaded) · 65% 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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,694
• − Mortgage interest: −$12,318
• − Property taxes: −$5,881
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,776
• − Management: −$2,776
• − Depreciation: −$6,397
• Taxable income: $3,447
• Est. tax owed @ 24.0%: −$827
• After-tax cash flow: $5,762/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): 5,865
• Household income: $44,335
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 431.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Black 37% White 32% Hispanic / Latino 24% Two or more races 10%
• Hispanic origin (detail): Mexican 18% Puerto Rican 2%
• Common ancestry: Romanian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 15% 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: ▼ -4.60%
• Current HPI: 194.458
• Rent YoY: ▲ 7.30%
• 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

-12.0% since first listed

11 events — show timeline

• 2026-04-13 Listed $219,900 REALCOMP
• 2026-04-11 Listed $219,900 MiRealSource-MiMLS
• 2026-03-10 Pending — MiRealSource-MiMLS
• 2026-03-10 Pending — REALCOMP
• 2026-03-10 Contingent — MiRealSource-MiMLS
• 2026-03-10 Contingent — REALCOMP
• 2026-03-10 Listing Removed — REALCOMP
• 2026-03-10 Listing Removed — MiRealSource-MiMLS
• 2026-03-04 Listed $250,000 MiRealSource-MiMLS
• 2026-03-04 Listed $250,000 REALCOMP
• 2026-03-02 Coming Soon — MiRealSource-MiMLS

Property tax history

+25.4%/yr

Latest (2025): $5,881 · +557.6% YoY. Source: county tax records.