6533 East Jefferson Ave #238 · Detroit, MI 48207

$110,000

1 bd · 1.0 ba · 1,191 sqft · Condo · 118 Days on market

Built 1906 Good condition $92/sqft · 15% below area Est $130k · 15% under $805/mo HOA · 51% of rent ↓ 12% 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).

• ARV discount +14.3/15.0
• 1% rule +9.4/10.0
• Condition / age +4.0/5.0
• Cash flow +3.9/30.0
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Rent growth +3.4/5.0
• Schools +1.3/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Experience the best of downtown Detroit living in this authentic one bedroom that blends historic charm with modern comfort. Exposed brick walls, arched industrial windows, wood timber ceilings, and polished concrete floors create a space full of character and natural light. Residents enjoy access to a pool and fitness center, all just steps from downtown Detroit and the River Walk. Enjoy city living with convenience, character, and walkable access to some of the area's best attractions.

Key facts

• Exposed brick walls
• Wood timber ceilings
• Fitness center

Tags

• EXPOSED BRICK WALLS
• ARCHED INDUSTRIAL WINDOWS
• WOOD TIMBER CEILINGS
• POLISHED CONCRETE FLOORS
• ACCESS TO A POOL
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-315 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $64k (41.5% below list).
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $64k (41.5% below list) — sets the bar for cash-flow.
• Cap rate 2.9% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+3.5%/yr); 244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.8%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent; built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,394 (41.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 2.85%
• Cash-on-cash: -12.28%
• DSCR: 0.45
• GRM: 5.8

CMA / ARV

• ARV (median comp): $129,689
• List price: $110,000
• Delta: -15.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-2.79% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -34.3%
• Equity multiple: -0.15×
• Total profit: $-35,568
• Equity at exit: $17,427

10-year hold

• IRR: -31.9%
• Equity multiple: -0.64×
• Total profit: $-50,370
• Equity at exit: $11,282

Cash invested: $30,800 (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 48207

• Home prices YoY: -2.0%
• Rents YoY: 3.5%
• Active inventory: 244
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$805
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-315

Break-even live

Break-even rent $1,981

Max offer price $64,394

Occupancy floor —

Sensitivity live

Price	-10% $-239	-5% $-277	+0% $-315	+5% $-353	+10% $-391
Rent	-10% $-440	-5% $-378	+0% $-315	+5% $-253	+10% $-190
Rate	-1.0pp $-260	-0.5pp $-287	base $-315	+0.5pp $-344	+1.0pp $-373

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1181	$1,500	$1.27	25d	3	0.07mi
6533 E Jefferson Ave Detroit, MI	2.0	1.0–2.0	1094	$1,500	$1.37	18d	2	0.07mi
6533 E Jefferson Ave #421 Detroit, MI	2.0	1.0	1063	$2,200	$2.07	15d	1	0.07mi
200 Mount Elliott St Detroit, MI	1.0	1.0	1050	$2,000	$1.90	44d	1	0.17mi
1440 Robert Bradby Dr Detroit, MI	2.0	2.0	1250	$1,472	$1.18	44d	1	0.30mi
3500 E Jefferson Detroit, MI	1.0–2.0	1.0–2.0	1012	$1,840	$1.82	2d	5	0.35mi
3320 Spinnaker Ln Detroit, MI	1.0	1.0	740	$1,550	$2.09	44d	1	0.41mi
7700 E Jefferson Ave Detroit, MI	2.0	1.0	877	$1,397	$1.59	44d	1	0.64mi
374 E Grand Blvd Unit 2A Detroit, MI	2.0	2.0	1450	$2,750	$1.90	44d	1	0.65mi
500 River Pl Dr Detroit, MI	1.0–3.0	1.0–2.0	950	$1,250	$1.32	44d	1	0.70mi
7800 E Jefferson Ave Detroit, MI	1.0–2.0	1.0	625	$829	$1.33	18d	1	0.70mi
1454 Townsend St #101 Detroit, MI	2.0	2.0	1268	$2,500	$1.97	4d	1	0.74mi
7410 Kercheval Ave Unit 212 Detroit, MI	2.0	2.0	1017	$1,950	$1.92	44d	1	0.81mi
1000 Van Dyke St Detroit, MI	1.0–2.0	1.0	751	$1,195	$1.59	44d	4	0.85mi
1000 Van Dyke St Unit 205 Detroit, MI	2.0	1.0	863	$1,495	$1.73	15d	1	0.86mi
1000 Van Dyke St Unit B02 Detroit, MI	2.0	1.0	871	$1,295	$1.49	25d	1	0.86mi
2928 Prince Hall Dr Detroit, MI	2.0	2.0	1425	$2,000	$1.40	5d	1	0.86mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$1,213	$1.11	20d	20	0.88mi
1941 Chene Ct Detroit, MI	1.0–2.0	1.0–2.0	795	$1,199	$1.51	13d	4	0.97mi
2001 Chene St Detroit, MI	2.0	1.0	950	$1,069	$1.13	44d	1	1.03mi
8001 Kercheval Ave Detroit, MI	1.0–2.0	1.0–2.0	984	$1,320	$1.34	0d	3	1.05mi
2280 E Vernor Hwy Detroit, MI	1.0–3.0	1.0–2.0	872	$727	$0.83	21d	1	1.24mi
3511 Concord Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.25mi
1544 1566 E LAFAYETTE St Detroit, MI	2.0	1.0–2.0	848	$1,982	$2.34	3d	16	1.29mi
1531 Larned St Detroit, MI	1.0	1.0–1.5	840	$1,380	$1.64	44d	1	1.30mi
229 Orleans St Detroit, MI	1.0–2.0	1.0–2.5	1087	$1,434	$1.32	2d	10	1.30mi
1575 Cherboneau Pl Unit D-56 Detroit, MI	1.0	1.0	800	$1,375	$1.72	44d	1	1.30mi
1575 Cherboneau Pl #61 Detroit, MI	1.0	1.0	720	$1,300	$1.81	4d	1	1.30mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	1.31mi
621 Orleans St Detroit, MI	1.0–2.0	1.0	775	$1,125	$1.45	3d	7	1.31mi
1565 Cherboneau Pl #60 Detroit, MI	1.0	1.0	700	$1,100	$1.57	21d	1	1.31mi
1341 Crane St Detroit, MI	1.0	1.0	750	$995	$1.33	2d	1	1.32mi
8845 E Jefferson Apt 208 Detroit, MI	2.0	1.5	992	$1,635	$1.65	44d	1	1.34mi
8845 E Jefferson Ave Unit 302 Detroit, MI	2.0	2.0	885	$1,460	$1.65	44d	1	1.34mi
8845 E Jefferson Ave Unit 102 Detroit, MI	1.0	1.5	800	$1,350	$1.69	44d	1	1.34mi
8845 E Jefferson Ave Unit 205 Detroit, MI	2.0	1.5	960	$1,425	$1.48	44d	1	1.34mi
8845 E Jefferson Ave Unit 203 Detroit, MI	2.0	1.5	1024	$1,515	$1.48	44d	1	1.34mi
8845 E Jefferson Ave Unit 207 Detroit, MI	2.0	1.5	1500	$1,695	$1.13	44d	1	1.34mi
8845 E Jefferson Ave Unit 204 Detroit, MI	2.0	1.5	1150	$2,350	$2.04	44d	1	1.34mi
8845 E Jefferson Ave Unit 206 Detroit, MI	2.0	1.5	1230	$1,660	$1.35	44d	1	1.34mi

HOA detail condo

• Monthly dues: $805 · $9,660/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $110,000 Active 118 DOM
2. 2026-06-17
   days on market $110,000 Active 117 DOM
3. 2026-06-15
   days on market $110,000 Active 115 DOM
4. 2026-06-13
   days on market $110,000 Active 113 DOM
5. 2026-06-13
   days on market $110,000 Active 112 DOM
6. 2026-06-09
   days on market $110,000 Active 109 DOM
7. 2026-06-08
   days on market $110,000 Active 108 DOM
8. 2026-06-07
   days on market $110,000 Active 107 DOM
9. 2026-06-04
   days on market $110,000 Active 104 DOM
10. 2026-06-03
    days on market $110,000 Active 103 DOM
11. 2026-06-01
    days on market $110,000 Active 101 DOM
12. 2026-05-31
    days on market $110,000 Active 100 DOM
13. 2026-03-12
    price $110,000 492-char remark

    Show marketing remark (492 chars)

    Experience the best of downtown Detroit living in this authentic one bedroom that blends historic charm with modern comfort. Exposed brick walls, arched industrial windows, wood timber ceilings, and polished concrete floors create a space full of character and natural light. Residents enjoy access to a pool and fitness center, all just steps from downtown Detroit and the River Walk. Enjoy city living with convenience, character, and walkable access to some of the area's best attractions.

14. 2026-03-11
    price $110,000 498-char remark

    Show marketing remark (498 chars)

    Experience the best of downtown Detroit living in this authentic one bedroom that blends historic charm with modern comfort. Exposed brick walls, arched industrial windows, wood timber ceilings, and polished concrete floors create a space full of character and natural light. Residents enjoy access to a pool and fitness center, all just steps from downtown Detroit and the River Walk. Enjoy city living with convenience, character, and walkable access to some of the area’s best attractions.

15. 2026-02-20
    listed $124,999 Active 498-char remark

    Show marketing remark (492 chars)

    Experience the best of downtown Detroit living in this authentic one bedroom that blends historic charm with modern comfort. Exposed brick walls, arched industrial windows, wood timber ceilings, and polished concrete floors create a space full of character and natural light. Residents enjoy access to a pool and fitness center, all just steps from downtown Detroit and the River Walk. Enjoy city living with convenience, character, and walkable access to some of the area's best attractions.

16. 2026-02-20
    listed $124,999 Active 492-char remark

    Show marketing remark (492 chars)

    Experience the best of downtown Detroit living in this authentic one bedroom that blends historic charm with modern comfort. Exposed brick walls, arched industrial windows, wood timber ceilings, and polished concrete floors create a space full of character and natural light. Residents enjoy access to a pool and fitness center, all just steps from downtown Detroit and the River Walk. Enjoy city living with convenience, character, and walkable access to some of the area's best attractions.

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

Taxation est. · year 1

• Rental income: $18,987
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − HOA: −$9,660
• − Depreciation: −$3,200
• Taxable loss: −$5,272
• Est. tax savings @ 24.0%: +$1,265
• After-tax cash flow: $-2,517/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This one-bedroom condo in downtown Detroit offers a blend of historic charm and modern comfort, with polished concrete floors and industrial-style windows. The property is in good condition with minimal maintenance required, making it an attractive investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Landscaping courtyard — Improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping courtyard — Improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 20,848
• Household income: $47,831
• Rent vs Own: 74.2% rent · 25.8% own
• Severe rent burden: 2017.0

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 (74%)
• Race & ethnicity: Black 74% White 18% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▼ -2.79%
• Current HPI: 136.6328
• Rent YoY: ▲ 3.53%
• 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

-12.0% since first listed

4 events — show timeline

• 2026-03-12 Price Changed $110,000 MiRealSource-MiMLS
• 2026-03-11 Price Changed $110,000 REALCOMP
• 2026-02-20 Listed $124,999 REALCOMP
• 2026-02-20 Listed $124,999 MiRealSource-MiMLS