1889 Ewald Cir · Detroit, MI 48238

$78,000

3 bd · 1.0 ba · 1,238 sqft · Townhouse public records · 112 Days on market

Built 1949 3,049 sqft lot $63/sqft · 63% above area

---

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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this beautifully updated 3-bedroom, 1.5 baths home !!!!, nestled in a friendly, family-oriented neighborhood. Ideal for first-time homebuyers or savvy investors, . The spacious layout offers plenty of room for comfortable living or rental potential, making it a fantastic opportunity for generating strong rental income. Located just minutes from schools, parks, and local amenities, this home combines convenience with charm in a vibrant Detroit community. Don’t miss out on this affordable, high-potential property—schedule a showing today!

Key facts

• 3,049 sq ft lot
• Built 1949
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $78k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $71k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+6.1%/yr); 346 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).
• This rent runs 43% of the median local income ($33k/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 $539 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 (-3.0% appreciation + 6.1% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,980 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.54% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.49%
• DSCR: 1.96
• GRM: 5.4

CMA / ARV

• ARV (median comp): $47,770
• List price: $78,000
• Delta: 63.28%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.74×
• Total profit: $16,211
• Equity at exit: $11,630

10-year hold

• IRR: 28.3%
• Equity multiple: 3.90×
• Total profit: $63,420
• Equity at exit: $6,744

Cash invested: $21,840 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,199 high
• Mortgage (P&I): −$409
• Tax from tax record: −$115 /mo · $1,376/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $391

Break-even live

Break-even rent $704

Max offer price $78,000

Occupancy floor 62%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	4d	1	0.14mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	43d	1	0.40mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	16d	1	0.44mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	10d	1	0.44mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	43d	1	0.54mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	4d	1	0.54mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	0.55mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	43d	1	0.55mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	0.59mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	16d	1	0.59mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	43d	1	0.67mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	43d	1	0.72mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	19d	1	0.74mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	4d	1	0.74mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	24d	1	0.75mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	14d	1	0.75mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	0.79mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	43d	1	0.83mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.88mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	16d	1	0.93mi
3224 Monterey St Unit 2E Detroit, MI	2.0	1.0	1200	$1,350	$1.12	43d	1	0.93mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	16d	1	1.00mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	1.01mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	1.03mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	12d	1	1.04mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	43d	1	1.05mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	1.06mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	1.10mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.13mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	17d	1	1.13mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	21d	1	1.13mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	1d	1	1.20mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	17d	1	1.20mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	16d	1	1.23mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	24d	1	1.25mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	1d	1	1.26mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	1.26mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	1.28mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	12d	1	1.28mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	1.31mi

Listing history 30 events

1. 2026-06-18
   days on market $78,000 Active 112 DOM
2. 2026-06-17
   days on market $78,000 Active 111 DOM
3. 2026-06-15
   days on market $78,000 Active 109 DOM
4. 2026-06-13
   days on market $78,000 Active 107 DOM
5. 2026-06-13
   days on market $78,000 Active 106 DOM
6. 2026-06-10
   price $78,000 Active 103 DOM
7. 2026-06-09
   days on market $83,000 Active 103 DOM
8. 2026-06-08
   days on market $83,000 Active 102 DOM
9. 2026-06-07
   days on market $83,000 Active 101 DOM
10. 2026-06-04
    days on market $83,000 Active 98 DOM
11. 2026-06-03
    days on market $83,000 Active 97 DOM
12. 2026-06-01
    days on market $83,000 Active 95 DOM
13. 2026-05-31
    days on market $83,000 Active 94 DOM
14. 2026-02-25
    listed $83,000 Active 563-char remark

    Show marketing remark (553 chars)

    Discover this beautifully updated 3-bedroom, 1.5 baths home !!!!, nestled in a friendly, family-oriented neighborhood. Ideal for first-time homebuyers or savvy investors, . The spacious layout offers plenty of room for comfortable living or rental potential, making it a fantastic opportunity for generating strong rental income. Located just minutes from schools, parks, and local amenities, this home combines convenience with charm in a vibrant Detroit community. Don't miss out on this affordable, high-potential property - schedule a showing today!

15. 2026-02-25
    listed $83,000 Active 553-char remark

    Show marketing remark (553 chars)

    Discover this beautifully updated 3-bedroom, 1.5 baths home !!!!, nestled in a friendly, family-oriented neighborhood. Ideal for first-time homebuyers or savvy investors, . The spacious layout offers plenty of room for comfortable living or rental potential, making it a fantastic opportunity for generating strong rental income. Located just minutes from schools, parks, and local amenities, this home combines convenience with charm in a vibrant Detroit community. Don't miss out on this affordable, high-potential property - schedule a showing today!

16. 2021-01-28
    soldstatus $75,900
17. 2020-10-16
    soldstatus $28,000 Sold
18. 2020-10-16
    soldstatus $28,000 Closed
19. 2020-09-19
    status Pending
20. 2020-09-19
    status Pending
21. 2020-08-27
    price $29,900
22. 2020-08-26
    price $29,900
23. 2020-07-29
    listed $39,900 Active
24. 2020-07-29
    listed $39,900 Active
25. 2020-04-03
    historical
26. 2020-04-03
    historical
27. 2020-01-10
    price $45,000
28. 2020-01-09
    price $45,000
29. 2019-11-22
    listed $49,900 Active
30. 2019-11-22
    listed $49,900 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: $1,376 · $115/mo
• Projected year-2 tax: $1,376 · $115/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: $14,391
• − Mortgage interest: −$4,369
• − Property taxes: −$1,376
• − Insurance: −$390
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$2,269
• Taxable income: $3,684
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $3,810/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+66.3% since first listed

17 events — show timeline

• 2026-02-25 Listed $83,000 MiRealSource-MiMLS
• 2026-02-25 Listed $83,000 REALCOMP
• 2021-01-28 Sold (Public Records) $75,900 Public Records
• 2020-10-16 Sold (MLS) $28,000 MiRealSource-MiMLS
• 2020-10-16 Sold (MLS) $28,000 REALCOMP
• 2020-09-19 Pending — MiRealSource-MiMLS
• 2020-09-19 Pending — REALCOMP
• 2020-08-27 Price Changed $29,900 MiRealSource-MiMLS
• 2020-08-26 Price Changed $29,900 REALCOMP
• 2020-07-29 Listed $39,900 MiRealSource-MiMLS
• 2020-07-29 Listed $39,900 REALCOMP
• 2020-04-03 Listing Removed — REALCOMP
• 2020-04-03 Listing Removed — MiRealSource-MiMLS
• 2020-01-10 Price Changed $45,000 MiRealSource-MiMLS
• 2020-01-09 Price Changed $45,000 REALCOMP
• 2019-11-22 Listed $49,900 MiRealSource-MiMLS
• 2019-11-22 Listed $49,900 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $1,376 · -10.4% YoY. Source: county tax records.