5035 Philip St · Detroit, MI 48224

$114,999

3 bd · 1.0 ba · 1,158 sqft · SingleFamily public records · 30 Days on market

Built 1940 3,920 sqft lot Est $118k · at est.

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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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +8.7/15.0
• 1% rule +7.0/10.0
• 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

Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it. With Cash Flow Already Moving. This one is for the buyer who wants income without walking into a project. Fully remodeled in 2025 and already tenant-occupied at * * $1,150/month * * with a lease in place through "August 2026." That's * * $13,800/year in gross rental income * * from day one. Inside, the heavy lifting has already been done: updated kitchen, new cabinets, fresh tile, modern appliances, and clean finishes that today's tenants actually want. No guessing. No "maybe it rents. " The tenant is already there and paying. For investors, the cap rate will depend on the final purchase price and expenses, but the math starts strong with a steady monthly income already in place. Bring your numbers and run them. This could be a solid addition to the portfolio. Location is another big plus. You're in an improving east side pocket with quick access to the Ford Freeway, roughly "15 minutes to Downtown Detroit", minutes from "Chandler Park", close to "Grosse Pointe, " and a short drive to waterfront spots, shopping, dining, and everyday amenities. Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it.

Key facts

• Fresh tile
• Modern appliances
• New cabinets

Tags

• UPDATED KITCHEN
• NEW CABINETS
• FRESH TILE
• MODERN APPLIANCES
• CLEAN FINISHES
• QUICK ACCESS TO FORD FREEWAY

Property features AI

Exterior

• Parking: No garage
• Utilities: Public sewer available; Water available
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps
• Construction: Brick construction; Brick/mortar foundation; Built area above grade: 1,158
• Exterior features: Paved road access; Water body: DaShayla Walker

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: 6 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.

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 20d 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 $795 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 30 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 11y 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,274 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.52%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $118,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4844 Manistique St	0.14mi	3/1.0	1,088 (-6%)	2mo	$19,900	$18	81
4871 Lakepointe St	0.34mi	3/1.5	1,100 (-5%)	2mo	$160,000	$145	72
4820 Lakepointe St	0.38mi	3/1.5	1,100 (-5%)	2mo	$160,000	$145	70
5566 LAKEPOINTE S S. Chandler Park St	0.44mi	3/1.5	1,108 (-4%)	3mo	$57,000	$51	68
4810 Lakepointe St	0.38mi	4/1.0 (+1)	1,218 (+5%)	3mo	$200,000	$164	66
5557 Lakeview St	0.45mi	3/1.0	1,233 (+6%)	4mo	$40,000	$32	65
4619 Balfour Rd	0.64mi	3/1.0	1,188 (+3%)	2mo	$44,000	$37	64
5777 Lakepointe St	0.53mi	4/2.5 (+1)	1,075 (-7%)	2mo	$174,999	$163	51
4404 Somerset Ave	0.63mi	3/1.0	1,292 (+12%)	0mo	$190,000	$147	51
5818 Beaconsfield St	0.63mi	3/1.5	1,038 (-10%)	3mo	$60,000	$58	49
4651 Berkshire St	0.74mi	3/2.0	1,230 (+6%)	4mo	$125,870	$102	48
5306 Somerset Ave	0.58mi	3/1.5	1,324 (+14%)	4mo	$135,000	$102	43

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,364
• Equity at exit: $17,147

10-year hold

• IRR: 8.5%
• Equity multiple: 1.58×
• Total profit: $18,763
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$603
• Tax from tax record: −$77 /mo · $928/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $363

Break-even live

Break-even rent $922

Max offer price $114,999

Occupancy floor 69%

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: $28,750
• Closing costs: $3,450
• 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	43d	1	0.49mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	43d	1	0.54mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.56mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	14d	1	0.59mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	4d	1	0.60mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	0.66mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	17d	1	0.71mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	14d	1	0.76mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.77mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	4d	1	0.82mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	0.82mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.82mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	0.83mi
5112 Haverhill St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	43d	1	0.84mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	0.87mi
5031 Bedford St Detroit, MI	2.0	1.0	876	$1,870	$2.13	1d	1	0.92mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	17d	1	0.93mi
5028 Bedford St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.95mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	4d	1	0.96mi
4627 Bedford St Unit 1 Detroit, MI	2.0	1.0	1050	$945	$0.90	19d	1	0.97mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	43d	1	0.98mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	14d	1	1.00mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.00mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.03mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	1.04mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	43d	1	1.05mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.07mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.08mi
1367 Wayburn St Unit 1 Grosse Pointe Park, MI	3.0	1.0	816	$1,250	$1.53	43d	1	1.11mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	1.14mi
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	1.14mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,200	$2.13	24d	1	1.15mi
1314 Maryland St Grosse Pointe Park, MI	2.0	1.0	1008	$1,250	$1.24	43d	1	1.22mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	3d	1	1.25mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	21d	1	1.25mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	1.25mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	1.26mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	1.32mi
1312 Somerset Ave Grosse Pointe Park, MI	2.0	1.0	1200	$1,400	$1.17	16d	1	1.32mi
3626 Courville St Detroit, MI	3.0	1.0	1260	$1,300	$1.03	43d	1	1.33mi

Listing history 50 events

1. 2026-06-18
   days on market $114,999 Active 30 DOM
2. 2026-06-17
   days on market $114,999 Active 29 DOM
3. 2026-06-15
   days on market $114,999 Active 27 DOM
4. 2026-06-13
   days on market $114,999 Active 25 DOM
5. 2026-06-13
   days on market $114,999 Active 24 DOM
6. 2026-06-09
   days on market $114,999 Active 21 DOM
7. 2026-06-08
   days on market $114,999 Active 20 DOM
8. 2026-06-07
   days on market $114,999 Active 19 DOM
9. 2026-06-04
   days on market $114,999 Active 16 DOM
10. 2026-06-03
    days on market $114,999 Active 15 DOM
11. 2026-06-02
    days on market $114,999 Active 14 DOM
12. 2026-06-01
    days on market $114,999 Active 13 DOM
13. 2026-05-31
    days on market $114,999 Active 12 DOM
14. 2026-05-15
    listed $119,999 Active

    Show marketing remark (1367 chars)

    Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it. With Cash Flow Already Moving. This one is for the buyer who wants income without walking into a project. Fully remodeled in 2025 and already tenant-occupied at * * $1,150/month * * with a lease in place through "August 2026." That's * * $13,800/year in gross rental income * * from day one. Inside, the heavy lifting has already been done: updated kitchen, new cabinets, fresh tile, modern appliances, and clean finishes that today's tenants actually want. No guessing. No "maybe it rents. " The tenant is already there and paying. For investors, the cap rate will depend on the final purchase price and expenses, but the math starts strong with a steady monthly income already in place. Bring your numbers and run them. This could be a solid addition to the portfolio. Location is another big plus. You're in an improving east side pocket with quick access to the Ford Freeway, roughly "15 minutes to Downtown Detroit", minutes from "Chandler Park", close to "Grosse Pointe, " and a short drive to waterfront spots, shopping, dining, and everyday amenities. Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it.

15. 2026-05-15
    listed $119,999 Active 1367-char remark

    Show marketing remark (1367 chars)

    Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it. With Cash Flow Already Moving. This one is for the buyer who wants income without walking into a project. Fully remodeled in 2025 and already tenant-occupied at * * $1,150/month * * with a lease in place through "August 2026." That's * * $13,800/year in gross rental income * * from day one. Inside, the heavy lifting has already been done: updated kitchen, new cabinets, fresh tile, modern appliances, and clean finishes that today's tenants actually want. No guessing. No "maybe it rents. " The tenant is already there and paying. For investors, the cap rate will depend on the final purchase price and expenses, but the math starts strong with a steady monthly income already in place. Bring your numbers and run them. This could be a solid addition to the portfolio. Location is another big plus. You're in an improving east side pocket with quick access to the Ford Freeway, roughly "15 minutes to Downtown Detroit", minutes from "Chandler Park", close to "Grosse Pointe, " and a short drive to waterfront spots, shopping, dining, and everyday amenities. Updated property. Paying tenant. Immediate income. That's the kind of deal investors look for before somebody else grabs it.

16. 2025-08-07
    historical $1,150
17. 2025-08-05
    listed $1,150
18. 2025-06-17
    soldstatus $129,000
19. 2025-05-27
    soldstatus $129,000 Closed 488-char remark

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

20. 2025-05-27
    soldstatus $129,000 Closed

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

21. 2025-04-08
    status Pending 488-char remark

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

22. 2025-04-08
    status Pending

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

23. 2025-04-01
    historical Accepting Backup Offers 488-char remark

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

24. 2025-04-01
    historical Active Under Contract

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

25. 2025-03-26
    price $135,000 488-char remark

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

26. 2025-03-26
    price $135,000

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

27. 2025-03-12
    listed $139,000 Active

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

28. 2025-03-12
    listed $139,000 Active 488-char remark

    Show marketing remark (488 chars)

    Stylishly renovated bungalow on Detroit's East Side! Entry level boasts charming open floor plan. Living room with fireplace. Updated kitchen with new cabinets, tile, and appliances. Full bath with new tub and vanity. Spacious upper level bedroom and loft space offers a host of possibilities. Full basement. Nice location near Corrigan Park. Short distance to Chandler Park. Short distance to Grosse Pointe. Buyers will be pleased by the thoughtful design and quality of this renovation.

29. 2024-11-14
    historical
30. 2024-11-14
    historical
31. 2023-11-08
    price $46,500
32. 2023-11-07
    price $46,500
33. 2023-10-27
    price $48,000
34. 2023-10-26
    price $48,000
35. 2023-10-02
    price $50,000
36. 2023-10-02
    price $50,000
37. 2023-06-27
    price $51,000
38. 2023-06-27
    price $51,000
39. 2023-06-08
    price $52,000
40. 2023-06-08
    price $52,000
41. 2023-05-01
    price $54,000
42. 2023-05-01
    price $54,000
43. 2023-02-09
    listed $55,000 Active
44. 2023-02-09
    listed $55,000 Active
45. 2017-09-08
    soldstatus $24,000 Sold
46. 2017-09-08
    soldstatus $24,000 Closed
47. 2017-08-10
    status Pending
48. 2017-08-10
    status Pending
49. 2017-08-02
    listed $35,000 Active
50. 2017-08-02
    listed $35,000 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: $928 · $77/mo
• Projected year-2 tax: $1,349 · $112/mo
• Expected delta: +$422/yr (+$35/mo · 45.4%)

ⓘ 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 ≥96°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: $16,573
• − Mortgage interest: −$6,442
• − Property taxes: −$928
• − Insurance: −$575
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$3,345
• Taxable income: $2,631
• Est. tax owed @ 24.0%: −$632
• After-tax cash flow: $3,722/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

+172.7% since first listed

45 events — show timeline

• 2026-05-15 Listed $119,999 MiRealSource-MiMLS
• 2026-05-15 Listed $119,999 REALCOMP
• 2025-08-07 Rental Removed $1,150 REALSOURCE
• 2025-08-05 Listed for Rent $1,150 REALSOURCE
• 2025-06-17 Sold (Public Records) $129,000 Public Records
• 2025-05-27 Sold (MLS) $129,000 REALCOMP
• 2025-05-27 Sold (MLS) $129,000 MiRealSource-MiMLS
• 2025-04-08 Pending — MiRealSource-MiMLS
• 2025-04-08 Pending — REALCOMP
• 2025-04-01 Contingent — MiRealSource-MiMLS
• 2025-04-01 Contingent — REALCOMP
• 2025-03-26 Price Changed $135,000 MiRealSource-MiMLS
• 2025-03-26 Price Changed $135,000 REALCOMP
• 2025-03-12 Listed $139,000 REALCOMP
• 2025-03-12 Listed $139,000 MiRealSource-MiMLS
• 2024-11-14 Listing Removed — MiRealSource-MiMLS
• 2024-11-14 Listing Removed — REALCOMP
• 2023-11-08 Price Changed $46,500 MiRealSource-MiMLS
• 2023-11-07 Price Changed $46,500 REALCOMP
• 2023-10-27 Price Changed $48,000 MiRealSource-MiMLS
• 2023-10-26 Price Changed $48,000 REALCOMP
• 2023-10-02 Price Changed $50,000 MiRealSource-MiMLS
• 2023-10-02 Price Changed $50,000 REALCOMP
• 2023-06-27 Price Changed $51,000 MiRealSource-MiMLS
• 2023-06-27 Price Changed $51,000 REALCOMP
• 2023-06-08 Price Changed $52,000 MiRealSource-MiMLS
• 2023-06-08 Price Changed $52,000 REALCOMP
• 2023-05-01 Price Changed $54,000 MiRealSource-MiMLS
• 2023-05-01 Price Changed $54,000 REALCOMP
• 2023-02-09 Listed $55,000 MiRealSource-MiMLS
• 2023-02-09 Listed $55,000 REALCOMP
• 2017-09-08 Sold (MLS) $24,000 MiRealSource-MiMLS
• 2017-09-08 Sold (MLS) $24,000 REALCOMP
• 2017-08-10 Pending — MiRealSource-MiMLS
• 2017-08-10 Pending — REALCOMP
• 2017-08-02 Listed $35,000 MiRealSource-MiMLS
• 2017-08-02 Listed $35,000 REALCOMP
• 2015-10-12 Sold (MLS) $6,500 MiRealSource-MiMLS
• 2015-10-12 Sold (MLS) $6,500 REALCOMP
• 2015-09-20 Listing Removed — REALCOMP
• 2015-09-20 Listing Removed — MiRealSource-MiMLS
• 2015-09-15 Listed $6,500 REALCOMP
• 2015-09-14 Listed $6,500 MiRealSource-MiMLS
• 2002-07-26 Sold (Public Records) $95,000 Public Records
• 2001-07-31 Sold (Public Records) $44,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $928 · -53.6% YoY. Source: county tax records.