5739 Barham St · Detroit, MI 48224

$80,000

3 bd · 1.0 ba · 1,154 sqft · Townhouse public records · 103 Days on market

Built 1952 3,485 sqft lot $69/sqft · at area comps Est $70k · 14% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newly renovated two-bedroom, one and a half bath home offers 1,006 square feet of thoughtfully designed living space with a fresh, modern finish throughout. Inside you’ll find brand-new hardwood floors, tile, cabinets, and fixtures, along with a bright and functional layout that feels warm and inviting. The unfinished basement provides additional storage or the opportunity to expand, while the open deck offers an ideal space to enjoy the outdoors. With a new roof and every detail completely updated, this home is move-in ready and designed for both comfort and style.

Key facts

• Open deck
• Unfinished basement
• Hardwood floors

Tags

• HARDWOOD FLOORS
• UNFINISHED BASEMENT
• OPEN DECK
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $80k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 10.1% 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; 492 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 37% 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 $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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: 1.72% ✓
• Cap rate: 14.97%
• Cash-on-cash: 31.00%
• DSCR: 2.38
• GRM: 4.9

CMA / ARV

• ARV (median comp): $70,249
• List price: $80,000
• Delta: 13.88%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 1.93×
• Total profit: $20,818
• Equity at exit: $11,928

10-year hold

• IRR: 29.8%
• Equity multiple: 3.39×
• Total profit: $53,525
• Equity at exit: $6,917

Cash invested: $22,400 (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: 492
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,374 high
• Mortgage (P&I): −$420
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $579

Break-even live

Break-even rent $641

Max offer price $80,000

Occupancy floor 53%

Sensitivity live

Price	-10% $624	-5% $601	+0% $579	+5% $556	+10% $533
Rent	-10% $470	-5% $524	+0% $579	+5% $633	+10% $687
Rate	-1.0pp $619	-0.5pp $599	base $579	+0.5pp $558	+1.0pp $537

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	45d	1	0.07mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	16d	1	0.07mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	45d	1	0.35mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	0.36mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	21d	1	0.39mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	6d	1	0.39mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	5d	1	0.40mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	6d	1	0.43mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.47mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	18d	1	0.47mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	45d	1	0.47mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	16d	1	0.51mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	18d	1	0.52mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	45d	1	0.54mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	45d	1	0.54mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	16d	1	0.56mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	4d	1	0.60mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	45d	1	0.60mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	0d	1	0.64mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	25d	1	0.67mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	6d	1	0.67mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	6d	1	0.71mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.80mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	21d	1	0.83mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	19d	1	0.83mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	0.85mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	45d	1	0.86mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	18d	1	0.87mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	0.88mi
5783 Yorkshire Rd Detroit, MI	2.0	1.0	1040	$1,200	$1.15	45d	1	0.92mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	0.93mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	12d	1	0.95mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	0.99mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	45d	1	1.01mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	25d	1	1.07mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	1.08mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	1.14mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	45d	1	1.14mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	25d	1	1.17mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	18d	1	1.17mi

Listing history 19 events

1. 2026-06-21
   days on market $80,000 Active 103 DOM
2. 2026-06-18
   days on market $80,000 Active 100 DOM
3. 2026-06-17
   days on market $80,000 Active 99 DOM
4. 2026-06-15
   days on market $80,000 Active 97 DOM
5. 2026-06-13
   days on market $80,000 Active 95 DOM
6. 2026-06-13
   days on market $80,000 Active 94 DOM
7. 2026-06-09
   days on market $80,000 Active 91 DOM
8. 2026-06-08
   days on market $80,000 Active 90 DOM
9. 2026-06-07
   days on market $80,000 Active 89 DOM
10. 2026-06-04
    days on market $80,000 Active 86 DOM
11. 2026-06-03
    days on market $80,000 Active 85 DOM
12. 2026-06-01
    days on market $80,000 Active 83 DOM
13. 2026-05-31
    days on market $80,000 Active 82 DOM
14. 2026-03-10
    listed $80,000 Active 583-char remark

    Show marketing remark (583 chars)

    This newly renovated two-bedroom, one and a half bath home offers 1,006 square feet of thoughtfully designed living space with a fresh, modern finish throughout. Inside you’ll find brand-new hardwood floors, tile, cabinets, and fixtures, along with a bright and functional layout that feels warm and inviting. The unfinished basement provides additional storage or the opportunity to expand, while the open deck offers an ideal space to enjoy the outdoors. With a new roof and every detail completely updated, this home is move-in ready and designed for both comfort and style.

15. 2026-03-10
    historical

    Show marketing remark (583 chars)

    This newly renovated two-bedroom, one and a half bath home offers 1,006 square feet of thoughtfully designed living space with a fresh, modern finish throughout. Inside you’ll find brand-new hardwood floors, tile, cabinets, and fixtures, along with a bright and functional layout that feels warm and inviting. The unfinished basement provides additional storage or the opportunity to expand, while the open deck offers an ideal space to enjoy the outdoors. With a new roof and every detail completely updated, this home is move-in ready and designed for both comfort and style.

16. 2026-03-10
    historical

    Show marketing remark (583 chars)

    This newly renovated two-bedroom, one and a half bath home offers 1,006 square feet of thoughtfully designed living space with a fresh, modern finish throughout. Inside you’ll find brand-new hardwood floors, tile, cabinets, and fixtures, along with a bright and functional layout that feels warm and inviting. The unfinished basement provides additional storage or the opportunity to expand, while the open deck offers an ideal space to enjoy the outdoors. With a new roof and every detail completely updated, this home is move-in ready and designed for both comfort and style.

17. 2026-03-10
    listed $80,000 Active

    Show marketing remark (583 chars)

    This newly renovated two-bedroom, one and a half bath home offers 1,006 square feet of thoughtfully designed living space with a fresh, modern finish throughout. Inside you’ll find brand-new hardwood floors, tile, cabinets, and fixtures, along with a bright and functional layout that feels warm and inviting. The unfinished basement provides additional storage or the opportunity to expand, while the open deck offers an ideal space to enjoy the outdoors. With a new roof and every detail completely updated, this home is move-in ready and designed for both comfort and style.

18. 2025-08-18
    listed $80,000 Active
19. 2025-08-18
    listed $80,000 Active

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $939 · $78/mo
• Expected delta: +$293/yr (+$24/mo · 45.3%)

ⓘ 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 ≥95°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: $16,487
• − Mortgage interest: −$4,481
• − Property taxes: −$646
• − Insurance: −$400
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$2,327
• Taxable income: $5,995
• Est. tax owed @ 24.0%: −$1,439
• After-tax cash flow: $5,506/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

+0.0% since first listed

6 events — show timeline

• 2026-03-10 Listed $80,000 REALCOMP
• 2026-03-10 Listed $80,000 MiRealSource-MiMLS
• 2026-03-10 Listing Removed — MiRealSource-MiMLS
• 2026-03-10 Listing Removed — REALCOMP
• 2025-08-18 Listed $80,000 REALCOMP
• 2025-08-18 Listed $80,000 MiRealSource-MiMLS

Property tax history

-1.2%/yr

Latest (2025): $646 · -35.7% YoY. Source: county tax records.