14851 Indiana St · Detroit, MI 48238

$24,900

2 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 63 Days on market

Built 1924 3,049 sqft lot $21/sqft · 55% below area

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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
• 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

Investor special in Detroit's 48238 area. This brick bungalow offers a value-add opportunity for renovation, rental hold, or resale. Property is being sold strictly as-is, where-is, with no warranties or representations by seller. Buyer to verify all information, inspect exterior as available, and assume responsibility for any desired cleanout or repairs after closing. Strong potential for experienced investors seeking their next project.

Key facts

• 3,049 sq ft lot
• Built 1924
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• Cap rate 41.3% 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 (+6.1%/yr); 346 active listings in the ZIP; 40 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).
• This rent runs 42% 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 $172 of loan paydown is wiped out by about $747 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $23,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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 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: 4.67% ✓
• Cap rate: 41.35%
• Cash-on-cash: 125.19%
• DSCR: 6.57
• GRM: 1.8

CMA / ARV

• ARV (median comp): $55,937
• List price: $24,900
• Delta: -55.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14203 Cherrylawn St	0.50mi	3/2.0 (+1)	1,250 (+4%)	5mo	$58,000	$46	58
14931 Monte Vista St	0.50mi	3/1.5 (+1)	1,307 (+8%)	0mo	$35,000	$27	56
7447 Ellsworth St	0.62mi	3/1.0 (+1)	1,160 (-4%)	5mo	$35,500	$31	55
15818 Griggs St	0.70mi	3/1.0 (+1)	1,187 (-2%)	8mo	$153,000	$129	52
15771 Birwood St	0.67mi	3/1.5 (+1)	1,290 (+7%)	0mo	$128,995	$100	50
15088 Appoline St	0.66mi	3/1.0 (+1)	1,300 (+8%)	5mo	$70,000	$54	48
14629 Monica St	0.73mi	3/1.0 (+1)	1,128 (-7%)	4mo	$19,000	$17	47
15788 Ilene St	0.66mi	3/2.0 (+1)	1,263 (+5%)	7mo	$146,500	$116	47
13903 Cloverlawn Ave	0.74mi	3/1.5 (+1)	1,265 (+5%)	5mo	$140,000	$111	47
14249 Cloverlawn St	0.51mi	3/1.0 (+1)	1,035 (-14%)	5mo	$69,000	$67	43
15515 Griggs St	0.57mi	3/1.0 (+1)	1,385 (+15%)	7mo	$104,000	$75	38
15510 Monte Vista St	0.68mi	3/2.0 (+1)	1,376 (+14%)	7mo	$80,000	$58	30

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.61×
• Total profit: $46,111
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 17.71×
• Total profit: $116,516
• Equity at exit: $2,153

Cash invested: $6,972 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,163 high
• Mortgage (P&I): −$131
• Tax from tax record: −$51 /mo · $609/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $727

Break-even live

Break-even rent $243

Max offer price $24,900

Occupancy floor 32%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	12d	1	0.27mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	16d	1	0.33mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	24d	1	0.37mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	0.37mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	0.51mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	43d	1	0.58mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.58mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	0.58mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	0.59mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	0.59mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	17d	1	0.66mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	20d	1	0.67mi
15878 Kentucky St Detroit, MI	2.0	1.0	800	$900	$1.12	43d	1	0.69mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	43d	1	0.71mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	43d	1	0.72mi
15771 Turner St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	0.74mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	17d	1	0.76mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.77mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	43d	1	0.83mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	0.86mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	0.87mi
16230 Indiana St Unit 2 Detroit, MI	2.0	1.0	1050	$1,200	$1.14	18d	1	0.87mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	43d	1	0.90mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	22d	1	0.91mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	0.98mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	1.00mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	1.03mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	16d	1	1.05mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	1.06mi
16204 Steel St Detroit, MI	3.0	1.0	969	$1,150	$1.19	43d	1	1.09mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	16d	1	1.14mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	1.17mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	20d	1	1.17mi
16503 Ward Ave Unit 2 Detroit, MI	2.0	1.0	700	$850	$1.21	43d	1	1.23mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	12d	1	1.24mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	16d	1	1.24mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	43d	1	1.25mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	1.28mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	24d	1	1.29mi
17159 Northlawn St Unit 17161 Detroit, MI	2.0	1.0	1122	$975	$0.87	5d	1	1.32mi

Listing history 16 events

1. 2026-06-18
   days on market $24,900 Active 63 DOM
2. 2026-06-17
   days on market $24,900 Active 62 DOM
3. 2026-06-15
   days on market $24,900 Active 60 DOM
4. 2026-06-13
   days on market $24,900 Active 58 DOM
5. 2026-06-13
   pricedays on market $24,900 Active 57 DOM
6. 2026-06-09
   days on market $39,900 Active 54 DOM
7. 2026-06-08
   days on market $39,900 Active 53 DOM
8. 2026-06-07
   days on market $39,900 Active 52 DOM
9. 2026-06-04
   days on market $39,900 Active 49 DOM
10. 2026-06-03
    days on market $39,900 Active 48 DOM
11. 2026-06-02
    days on market $39,900 Active 47 DOM
12. 2026-06-01
    days on market $39,900 Active 46 DOM
13. 2026-05-31
    days on market $39,900 Active 45 DOM
14. 2026-04-16
    listed $39,900 Active 442-char remark

    Show marketing remark (442 chars)

    Investor special in Detroit's 48238 area. This brick bungalow offers a value-add opportunity for renovation, rental hold, or resale. Property is being sold strictly as-is, where-is, with no warranties or representations by seller. Buyer to verify all information, inspect exterior as available, and assume responsibility for any desired cleanout or repairs after closing. Strong potential for experienced investors seeking their next project.

15. 2026-04-16
    listed $39,900 Active 442-char remark

    Show marketing remark (442 chars)

    Investor special in Detroit's 48238 area. This brick bungalow offers a value-add opportunity for renovation, rental hold, or resale. Property is being sold strictly as-is, where-is, with no warranties or representations by seller. Buyer to verify all information, inspect exterior as available, and assume responsibility for any desired cleanout or repairs after closing. Strong potential for experienced investors seeking their next project.

16. 2026-04-16
    listed $39,900 Active

    Show marketing remark (442 chars)

    Investor special in Detroit's 48238 area. This brick bungalow offers a value-add opportunity for renovation, rental hold, or resale. Property is being sold strictly as-is, where-is, with no warranties or representations by seller. Buyer to verify all information, inspect exterior as available, and assume responsibility for any desired cleanout or repairs after closing. Strong potential for experienced investors seeking their next project.

ⓘ 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: $609 · $51/mo
• Projected year-2 tax: $609 · $51/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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,960
• − Mortgage interest: −$1,395
• − Property taxes: −$609
• − Insurance: −$124
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$724
• Taxable income: $8,874
• Est. tax owed @ 24.0%: −$2,130
• After-tax cash flow: $6,598/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

+0.0% since first listed

3 events — show timeline

• 2026-04-16 Listed $39,900 MiRealSource-MiMLS
• 2026-04-16 Listed $39,900 REALCOMP
• 2026-04-16 Listed $39,900 SW Michigan MLS

Property tax history

-1.0%/yr

Latest (2025): $609 · -53.0% YoY. Source: county tax records.