1939 W Grand St · Detroit, MI 48238

$139,000

4 bd · 1.5 ba · 1,954 sqft · Townhouse public records · 234 Days on market

Built 1924 4,356 sqft lot $71/sqft · at area comps Est $274k · 49% under

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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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +6.0/10.0
• 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 a well-built red-brick duplex in Detroit's Oakman Blvd community. 1939 W Grand Street offers an ideal investment or owner-occupant opportunity. This 1920s-era property has great features like two side-by-side units (each approx. 950 sq ft) with generous bedroom sizes, high-ceiling character, and classic masonry construction. Whether you're building your rental portfolio, looking for positive cash flow, or want a side-by-side living option, this property combines affordability, location, and solid structure. Don’t wait—opportunities like this in this price range don’t last long.

Key facts

• Red-brick duplex
• Solid structure
• 4,356 sq ft lot

Tags

• RED-BRICK DUPLEX
• TWO SIDE-BY-SIDE UNITS
• HIGH-CEILING CHARACTER
• CLASSIC MASONRY CONSTRUCTION
• SOLID STRUCTURE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $139k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% 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 (+6.1%/yr); 346 active listings in the ZIP; 30 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 $1,533/mo this rent would consume 55% of the median local household income ($33k/yr) (locally 2172% 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 $961 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 26 sale attempts since 8y 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.
• Current owner paid $60k; list at $139k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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: 1.10% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 7.6

CMA / ARV

• ARV (median comp): $273,623
• List price: $139,000
• Delta: -49.20%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -1.9%
• Equity multiple: 0.93×
• Total profit: $-2,908
• Equity at exit: $20,725

10-year hold

• IRR: 11.0%
• Equity multiple: 1.98×
• Total profit: $38,260
• Equity at exit: $12,018

Cash invested: $38,920 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,533 high
• Mortgage (P&I): −$729
• Tax from tax record: −$195 /mo · $2,342/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $229

Break-even live

Break-even rent $1,243

Max offer price $139,000

Occupancy floor 80%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	0.52mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	0.77mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	17d	1	0.91mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	1.01mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	1.01mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	1.02mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	24d	1	1.03mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	2d	1	1.09mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.14mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	1.18mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	1.18mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	2d	1	1.18mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	22d	1	1.21mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	17d	1	1.22mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.23mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.23mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	44d	1	1.24mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	1.24mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	1.27mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	4d	1	1.28mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.30mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	1.30mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	1.36mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	1.37mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	24d	1	1.38mi
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	11d	1	1.38mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	1.39mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	1.42mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	1.48mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	1.50mi

Listing history 50 events

1. 2026-06-18
   days on market $139,000 Active 234 DOM
2. 2026-06-17
   days on market $139,000 Active 233 DOM
3. 2026-06-15
   days on market $139,000 Active 231 DOM
4. 2026-06-13
   days on market $139,000 Active 229 DOM
5. 2026-06-13
   days on market $139,000 Active 228 DOM
6. 2026-06-09
   days on market $139,000 Active 225 DOM
7. 2026-06-08
   days on market $139,000 Active 224 DOM
8. 2026-06-07
   days on market $139,000 Active 223 DOM
9. 2026-06-04
   days on market $139,000 Active 220 DOM
10. 2026-06-03
    days on market $139,000 Active 219 DOM
11. 2026-06-01
    days on market $139,000 Active 217 DOM
12. 2026-05-31
    days on market $139,000 Active 216 DOM
13. 2025-10-27
    listed $139,000 Active 611-char remark

    Show marketing remark (595 chars)

    Discover a well-built red-brick duplex in Detroit's Oakman Blvd community. 1939 W Grand Street offers an ideal investment or owner-occupant opportunity. This 1920s-era property has great features like two side-by-side units (each approx. 950 sq ft) with generous bedroom sizes, high-ceiling character, and classic masonry construction. Whether you're building your rental portfolio, looking for positive cash flow, or want a side-by-side living option, this property combines affordability, location, and solid structure. Don't wait - opportunities like this in this price range don't last long.

14. 2025-10-27
    listed $139,000 Active 595-char remark

    Show marketing remark (595 chars)

    Discover a well-built red-brick duplex in Detroit's Oakman Blvd community. 1939 W Grand Street offers an ideal investment or owner-occupant opportunity. This 1920s-era property has great features like two side-by-side units (each approx. 950 sq ft) with generous bedroom sizes, high-ceiling character, and classic masonry construction. Whether you're building your rental portfolio, looking for positive cash flow, or want a side-by-side living option, this property combines affordability, location, and solid structure. Don't wait - opportunities like this in this price range don't last long.

15. 2024-06-30
    historical
16. 2024-06-30
    historical
17. 2024-03-11
    listed $160,000 Active
18. 2024-03-11
    historical
19. 2024-03-11
    historical
20. 2024-01-12
    price $160,000
21. 2024-01-12
    price $160,000
22. 2023-12-18
    listed $175,000 Active
23. 2023-12-18
    listed $160,000 Active
24. 2023-12-18
    listed $175,000 Active
25. 2023-10-23
    soldstatus $59,999
26. 2023-09-28
    soldstatus $59,999 Sold
27. 2023-09-28
    soldstatus $59,999 Closed
28. 2023-09-22
    status Pending
29. 2023-09-22
    status Pending
30. 2023-09-12
    price $59,999
31. 2023-09-12
    price $59,999
32. 2023-09-11
    status Active
33. 2023-09-11
    status Active
34. 2023-09-09
    status Pending
35. 2023-09-09
    status Pending
36. 2023-08-28
    status Active
37. 2023-08-28
    status Active
38. 2023-08-24
    status Pending
39. 2023-08-24
    status Pending
40. 2023-08-18
    status Active
41. 2023-08-18
    status Active
42. 2023-08-14
    status Pending
43. 2023-08-14
    status Pending
44. 2023-08-08
    status Active
45. 2023-08-08
    status Active
46. 2023-07-14
    status Pending
47. 2023-07-14
    status Pending
48. 2023-06-29
    status Active
49. 2023-06-29
    status Active
50. 2023-06-12
    status Pending

ⓘ 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: $2,342 · $195/mo
• Projected year-2 tax: $2,342 · $195/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 · 14 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: $18,396
• − Mortgage interest: −$7,786
• − Property taxes: −$2,342
• − Insurance: −$695
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − Depreciation: −$4,044
• Taxable income: $585
• Est. tax owed @ 24.0%: −$140
• After-tax cash flow: $2,607/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

+98.6% since first listed

66 events — show timeline

• 2025-10-27 Listed $139,000 REALCOMP
• 2025-10-27 Listed $139,000 MiRealSource-MiMLS
• 2024-06-30 Listing Removed — MiRealSource-MiMLS
• 2024-06-30 Listing Removed — REALCOMP
• 2024-03-11 Listing Removed — MiRealSource-MiMLS
• 2024-03-11 Listing Removed — REALCOMP
• 2024-03-11 Listed $160,000 REALCOMP
• 2024-01-12 Price Changed $160,000 MiRealSource-MiMLS
• 2024-01-12 Price Changed $160,000 REALCOMP
• 2023-12-18 Listed $175,000 MiRealSource-MiMLS
• 2023-12-18 Listed $160,000 MiRealSource-MiMLS
• 2023-12-18 Listed $175,000 REALCOMP
• 2023-10-23 Sold (Public Records) $59,999 Public Records
• 2023-09-28 Sold (MLS) $59,999 MiRealSource-MiMLS
• 2023-09-28 Sold (MLS) $59,999 REALCOMP
• 2023-09-22 Pending — MiRealSource-MiMLS
• 2023-09-22 Pending — REALCOMP
• 2023-09-12 Price Changed $59,999 MiRealSource-MiMLS
• 2023-09-12 Price Changed $59,999 REALCOMP
• 2023-09-11 Relisted — MiRealSource-MiMLS
• 2023-09-11 Relisted — REALCOMP
• 2023-09-09 Pending — MiRealSource-MiMLS
• 2023-09-09 Pending — REALCOMP
• 2023-08-28 Relisted — MiRealSource-MiMLS
• 2023-08-28 Relisted — REALCOMP
• 2023-08-24 Pending — MiRealSource-MiMLS
• 2023-08-24 Pending — REALCOMP
• 2023-08-18 Relisted — MiRealSource-MiMLS
• 2023-08-18 Relisted — REALCOMP
• 2023-08-14 Pending — MiRealSource-MiMLS
• 2023-08-14 Pending — REALCOMP
• 2023-08-08 Relisted — MiRealSource-MiMLS
• 2023-08-08 Relisted — REALCOMP
• 2023-07-14 Pending — MiRealSource-MiMLS
• 2023-07-14 Pending — REALCOMP
• 2023-06-29 Relisted — MiRealSource-MiMLS
• 2023-06-29 Relisted — REALCOMP
• 2023-06-12 Pending — MiRealSource-MiMLS
• 2023-06-12 Pending — REALCOMP
• 2023-06-06 Relisted — MiRealSource-MiMLS
• 2023-06-06 Relisted — REALCOMP
• 2023-05-02 Pending — MiRealSource-MiMLS
• 2023-05-02 Pending — REALCOMP
• 2023-04-26 Relisted — MiRealSource-MiMLS
• 2023-04-26 Relisted — REALCOMP
• 2023-04-21 Pending — MiRealSource-MiMLS
• 2023-04-21 Pending — REALCOMP
• 2023-04-17 Listed $72,900 REALCOMP
• 2023-04-13 Listed $72,900 MiRealSource-MiMLS
• 2019-09-18 Sold (Public Records) $47,000 Public Records
• 2019-09-13 Sold (MLS) $47,000 MiRealSource-MiMLS
• 2019-09-13 Sold (MLS) $47,000 REALCOMP
• 2019-08-28 Pending — MiRealSource-MiMLS
• 2019-08-28 Pending — REALCOMP
• 2019-08-24 Listed $45,000 MiRealSource-MiMLS
• 2019-08-24 Listed $45,000 REALCOMP
• 2018-07-30 Listing Removed — REALCOMP
• 2018-06-26 Pending — MiRealSource-MiMLS
• 2018-06-26 Pending — REALCOMP
• 2018-06-26 Listing Removed — MiRealSource-MiMLS
• 2018-06-09 Price Changed $45,000 MiRealSource-MiMLS
• 2018-06-08 Price Changed $45,000 REALCOMP
• 2018-05-29 Listed $49,900 MiRealSource-MiMLS
• 2018-05-29 Listed $49,900 REALCOMP
• 2017-09-28 Sold (Public Records) $4,000 Public Records
• 2005-04-26 Sold (Public Records) $70,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,342 · -53.1% YoY. Source: county tax records.