5117 University Pl · Detroit, MI 48224

$27,000

3 bd · 1.0 ba · 1,336 sqft · SingleFamily public records · 1 Days on market

Built 1937 6,534 sqft lot ↓ 49% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in Detroit's Cornerstone Village neighborhood! This 3-bedroom, 1-bath home offers over 1,300 square feet and has tons of potential for the right investor. The property experienced fire damage and will need a full renovation, but it sits on a solid foundation and provides a great opportunity to add value. Features include a spacious floor plan and a large detached garage that was not affected by the fire. Located in an established neighborhood with many updated and well-maintained homes nearby, this property has strong upside for resale or rental income. Cash buyers only. Sold as-is. Buyer to verify all information (BATVAI).

Key facts

• Solid foundation
• Spacious floor plan
• Full renovation

Tags

• FULL RENOVATION
• SOLID FOUNDATION
• SPACIOUS FLOOR PLAN
• LARGE DETACHED GARAGE
• ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Lot approximately 0.15 acres (50 x 133.69)

Interior

• Kitchen: No appliances listed
• Bedrooms: Total of 5 rooms (bedrooms among them)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Unfinished basement
• Laundry & utility: Has heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $27k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Cap rate 48.2% vs local median 10.2% 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 flat; 484 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 38% of the median local income ($45k/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 $187 of loan paydown is wiped out by about $810 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 + 0.7% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,000

Questions for the listing agent

1. Built in 1937 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 5.29% ✓
• Cap rate: 48.19%
• Cash-on-cash: 149.65%
• DSCR: 7.66
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $133,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5057 University Pl	0.05mi	3/1.0	1,301 (-3%)	3mo	$110,000	$85	90
5330 Hereford St	0.17mi	3/1.0	1,204 (-10%)	3mo	$103,000	$86	73
5779 Oldtown St	0.50mi	3/1.5	1,325 (-1%)	4mo	$135,000	$102	70
4403 Guilford St	0.48mi	3/1.0	1,270 (-5%)	4mo	$35,900	$28	67
5210 Farmbrook St	0.20mi	2/1.0 (-1)	1,188 (-11%)	3mo	$85,000	$72	65
5960 Bishop St	0.73mi	3/1.0	1,351 (+1%)	2mo	$155,000	$115	62
5762 Oldtown St	0.48mi	3/1.5	1,240 (-7%)	2mo	$138,000	$111	62
5228 Hillcrest St	0.71mi	3/1.5	1,291 (-3%)	2mo	$128,500	$100	58
5085 Grayton St	0.55mi	4/2.5 (+1)	1,381 (+3%)	1mo	$240,500	$174	57
5279 Cadieux Rd	0.43mi	3/2.0	1,161 (-13%)	0mo	$68,000	$59	54
4503 Bishop St	0.68mi	3/1.5	1,215 (-9%)	3mo	$158,000	$130	49
6230 Oldtown St	0.72mi	3/1.0	1,149 (-14%)	2mo	$76,000	$66	42

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.94×
• Total profit: $52,500
• Equity at exit: $4,026

10-year hold

• IRR: —
• Equity multiple: 15.63×
• Total profit: $110,605
• Equity at exit: $2,334

Cash invested: $7,560 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$142
• Tax est. 1.5%: −$34 /mo · $405/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $943

Break-even live

Break-even rent $236

Max offer price $27,000

Occupancy floor 29%

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: $6,750
• Closing costs: $810
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	16d	1	0.37mi
17137 Ontario St Unit 1 Detroit, MI	2.0	1.0	982	$1,123	$1.14	24d	1	0.43mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	24d	1	0.46mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	43d	1	0.60mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.60mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	18d	1	0.61mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	12d	1	0.67mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	2d	1	0.68mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	4d	1	0.70mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	1d	1	0.70mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	43d	1	0.70mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	0.73mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	43d	1	0.74mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	43d	1	0.74mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	43d	1	0.74mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	1d	1	0.87mi
890 Neff Rd Grosse Pointe, MI	2.0	1.0	1100	$2,000	$1.82	24d	1	0.90mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	24d	1	0.95mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	0.95mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	43d	1	0.98mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	1.00mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.01mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	43d	1	1.02mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	1d	1	1.04mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	1.05mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.05mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	20d	1	1.09mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	1.11mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	1.11mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	1.14mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	1.14mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.15mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	1.15mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	1.17mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	1.19mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	1.19mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	17d	1	1.20mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	43d	1	1.22mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.27mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	1.28mi

Listing history 2 events

1. 2026-06-17
   remarks 660-char remark

   Show marketing remark (660 chars)

   Great investment opportunity in Detroit's Cornerstone Village neighborhood! This 3-bedroom, 1-bath home offers over 1,300 square feet and has tons of potential for the right investor. The property experienced fire damage and will need a full renovation, but it sits on a solid foundation and provides a great opportunity to add value. Features include a spacious floor plan and a large detached garage that was not affected by the fire. Located in an established neighborhood with many updated and well-maintained homes nearby, this property has strong upside for resale or rental income. Cash buyers only. Sold as-is. Buyer to verify all information (BATVAI).

2. 2026-06-17
   listed $27,000 Active 1 DOM

   Show marketing remark (660 chars)

   Great investment opportunity in Detroit's Cornerstone Village neighborhood! This 3-bedroom, 1-bath home offers over 1,300 square feet and has tons of potential for the right investor. The property experienced fire damage and will need a full renovation, but it sits on a solid foundation and provides a great opportunity to add value. Features include a spacious floor plan and a large detached garage that was not affected by the fire. Located in an established neighborhood with many updated and well-maintained homes nearby, this property has strong upside for resale or rental income. Cash buyers only. Sold as-is. Buyer to verify all information (BATVAI).

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,155
• − Mortgage interest: −$1,512
• − Property taxes: −$405
• − Insurance: −$135
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$785
• Taxable income: $11,572
• Est. tax owed @ 24.0%: −$2,777
• After-tax cash flow: $8,536/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · 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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

-48.6% since first listed

45 events — show timeline

• 2026-06-17 Listed $27,000 REALCOMP
• 2026-06-17 Listed $27,000 MiRealSource-MiMLS
• 2026-04-11 Listing Removed — MiRealSource-MiMLS
• 2026-04-11 Listing Removed — REALCOMP
• 2026-04-11 Price Changed $39,990 MiRealSource-MiMLS
• 2026-04-10 Price Changed $39,990 REALCOMP
• 2026-04-06 Listed $49,990 REALCOMP
• 2026-04-06 Listed $49,990 MiRealSource-MiMLS
• 2025-10-13 Listing Removed — MiRealSource-MiMLS
• 2025-09-10 Price Changed $98,900 MiRealSource-MiMLS
• 2025-09-09 Price Changed $98,900 REALCOMP
• 2025-08-26 Price Changed $99,000 MiRealSource-MiMLS
• 2025-08-26 Price Changed $99,000 REALCOMP
• 2025-07-24 Price Changed $111,000 MiRealSource-MiMLS
• 2025-07-24 Price Changed $111,000 REALCOMP
• 2025-07-09 Listed $121,000 REALCOMP
• 2025-07-08 Listed $121,000 MiRealSource-MiMLS
• 2016-03-11 Sold (Public Records) $52,500 Public Records
• 2012-06-01 Listing Removed — MiRealSource-MiMLS
• 2012-06-01 Listing Removed — REALCOMP
• 2012-01-03 Listed $29,500 MiRealSource-MiMLS
• 2012-01-03 Listed $29,500 REALCOMP
• 2011-12-31 Listing Removed — MiRealSource-MiMLS
• 2011-12-31 Listing Removed — REALCOMP
• 2010-04-01 Listing Removed — MiRealSource-MiMLS
• 2009-12-18 Listed $49,500 MiRealSource-MiMLS
• 2009-12-18 Listed $29,500 MiRealSource-MiMLS
• 2009-12-18 Listed $29,500 REALCOMP
• 2009-09-19 Listing Removed — REALCOMP
• 2009-09-18 Listing Removed — MiRealSource-MiMLS
• 2009-04-30 Listed $65,000 MiRealSource-MiMLS
• 2009-04-30 Listed $65,000 REALCOMP
• 2009-03-24 Listed $4,000 REALCOMP
• 2009-03-24 Listing Removed — REALCOMP
• 2007-08-24 Sold (Public Records) $117,000 Public Records
• 2007-01-31 Sold (MLS) $28,100 REALCOMP
• 2007-01-31 Sold (MLS) $28,100 MiRealSource-MiMLS
• 2007-01-08 Listing Removed — MiRealSource-MiMLS
• 2006-12-29 Listing Removed — REALCOMP
• 2006-12-29 Listed $22,500 REALCOMP
• 2006-12-29 Listed $22,500 MiRealSource-MiMLS
• 2006-09-05 Listed $22,500 REALCOMP
• 2004-07-30 Sold (Public Records) $120,000 Public Records
• 1998-04-27 Sold (Public Records) $71,000 Public Records
• 1998-04-27 Sold (Public Records) $52,500 Public Records

Property tax history

+7.9%/yr

Latest (2025): $3,757 · -7.9% YoY. Source: county tax records.