3758 Rochester St · Detroit, MI 48206

$16,500

8 bd · 4.0 ba · 4,548 sqft · Townhouse public records · 1137 Days on market

Built 1924 5,227 sqft lot $4/sqft · 81% below area

---

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
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Latest offering from the Detroit Land Bank Authority. Brick 4 unit in need of major renovation. All units contain 2 bedrooms and 1 bath. There are 2 vacant lots included with this sale. 3764 Rochester and 3748 Rochester. Show with caution, bring Flashlight. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

Key facts

• 5,227 sq ft lot
• Built 1924
• Listed 1137 days

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Multi-family residential income property; Two stories
• Construction: Brick construction; Block foundation
• Exterior features: Private maintained road; Private road frontage; Pets allowed

Interior

• Bathrooms: 4 full bathrooms
• Heating & cooling: Natural gas heating; Radiant heat; No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath townhouse listed at $16k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $16k).
• Recommended offer: $15k (12.0% below list) — sets the bar for market timing.
• Cap rate 103.3% 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 rising fast (+5.2%/yr); 271 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,843/mo this rent would consume 49% of the median local household income ($45k/yr) (locally 646% 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 $114 of loan paydown is wiped out by about $495 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 + 5.2% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 1137 days — a 12% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 1137 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. 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?
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: 11.17% ✓
• Cap rate: 103.32%
• Cash-on-cash: 346.53%
• DSCR: 16.42
• GRM: 0.7

CMA / ARV

• ARV (median comp): $86,644
• List price: $16,500
• Delta: -80.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 19.72×
• Total profit: $86,500
• Equity at exit: $2,460

10-year hold

• IRR: —
• Equity multiple: 44.89×
• Total profit: $202,764
• Equity at exit: $1,427

Cash invested: $4,620 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $1,843 medium
• Mortgage (P&I): −$87
• Tax from tax record: −$28 /mo · $340/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $1,334

Break-even live

Break-even rent $154

Max offer price $16,500

Occupancy floor 23%

Sensitivity live

Price	-10% $1,343	-5% $1,339	+0% $1,334	+5% $1,329	+10% $1,325
Rent	-10% $1,189	-5% $1,261	+0% $1,334	+5% $1,407	+10% $1,480
Rate	-1.0pp $1,342	-0.5pp $1,338	base $1,334	+0.5pp $1,330	+1.0pp $1,326

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: $4,125
• Closing costs: $495
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $16,500 Active 1137 DOM
2. 2026-06-17
   days on market $16,500 Active 1136 DOM
3. 2026-06-15
   days on market $16,500 Active 1134 DOM
4. 2026-06-13
   days on market $16,500 Active 1132 DOM
5. 2026-06-13
   days on market $16,500 Active 1131 DOM
6. 2026-06-09
   days on market $16,500 Active 1128 DOM
7. 2026-06-08
   days on market $16,500 Active 1127 DOM
8. 2026-06-07
   days on market $16,500 Active 1126 DOM
9. 2026-06-04
   days on market $16,500 Active 1123 DOM
10. 2026-06-03
    days on market $16,500 Active 1122 DOM
11. 2026-06-01
    days on market $16,500 Active 1120 DOM
12. 2026-05-31
    days on market $16,500 Active 1119 DOM
13. 2026-02-09
    status Active 875-char remark

    Show marketing remark (875 chars)

    Welcome to the Latest offering from the Detroit Land Bank Authority. Brick 4 unit in need of major renovation. All units contain 2 bedrooms and 1 bath. There are 2 vacant lots included with this sale. 3764 Rochester and 3748 Rochester. Show with caution, bring Flashlight. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

14. 2026-02-09
    status Active

    Show marketing remark (875 chars)

    Welcome to the Latest offering from the Detroit Land Bank Authority. Brick 4 unit in need of major renovation. All units contain 2 bedrooms and 1 bath. There are 2 vacant lots included with this sale. 3764 Rochester and 3748 Rochester. Show with caution, bring Flashlight. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

15. 2025-09-18
    status Pending 875-char remark

    Show marketing remark (875 chars)

    Welcome to the Latest offering from the Detroit Land Bank Authority. Brick 4 unit in need of major renovation. All units contain 2 bedrooms and 1 bath. There are 2 vacant lots included with this sale. 3764 Rochester and 3748 Rochester. Show with caution, bring Flashlight. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

16. 2025-09-18
    status Pending

    Show marketing remark (875 chars)

    Welcome to the Latest offering from the Detroit Land Bank Authority. Brick 4 unit in need of major renovation. All units contain 2 bedrooms and 1 bath. There are 2 vacant lots included with this sale. 3764 Rochester and 3748 Rochester. Show with caution, bring Flashlight. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

17. 2022-12-15
    listed $16,500 Active 875-char remark

    Show marketing remark (875 chars)

    Welcome to the Latest offering from the Detroit Land Bank Authority. Brick 4 unit in need of major renovation. All units contain 2 bedrooms and 1 bath. There are 2 vacant lots included with this sale. 3764 Rochester and 3748 Rochester. Show with caution, bring Flashlight. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

18. 2022-12-15
    listed $16,500 Active

    Show marketing remark (875 chars)

    Welcome to the Latest offering from the Detroit Land Bank Authority. Brick 4 unit in need of major renovation. All units contain 2 bedrooms and 1 bath. There are 2 vacant lots included with this sale. 3764 Rochester and 3748 Rochester. Show with caution, bring Flashlight. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

19. 2011-12-31
    historical
20. 2009-07-03
    listed $10,500
21. 2005-12-07
    soldstatus $112,000

ⓘ 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: $340 · $28/mo
• Projected year-2 tax: $340 · $28/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: $22,115
• − Mortgage interest: −$924
• − Property taxes: −$340
• − Insurance: −$82
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$480
• Taxable income: $16,749
• Est. tax owed @ 24.0%: −$4,020
• After-tax cash flow: $11,990/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

-85.3% since first listed

9 events — show timeline

• 2026-02-09 Relisted — MiRealSource-MiMLS
• 2026-02-09 Relisted — REALCOMP
• 2025-09-18 Pending — MiRealSource-MiMLS
• 2025-09-18 Pending — REALCOMP
• 2022-12-15 Listed $16,500 REALCOMP
• 2022-12-15 Listed $16,500 MiRealSource-MiMLS
• 2011-12-31 Listing Removed — MiRealSource-MiMLS
• 2009-07-03 Listed $10,500 MiRealSource-MiMLS
• 2005-12-07 Sold (Public Records) $112,000 Public Records

Property tax history

+0.0%/yr

Latest (2016): $340 · +0.0% YoY. Source: county tax records.