5511 Ivanhoe St · Detroit, MI 48204

$140,000

4 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 34 Days on market

Built 1922 3,920 sqft lot Est $104k · 35% 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 +20.9/30.0
• Appreciation +10.0/10.0
• DSCR +6.6/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

Key facts

• Fully remodeled
• Updated mechanicals
• Functional layout

Tags

• FULLY REMODELED
• MODERN OPEN-CONCEPT KITCHEN
• UPDATED MECHANICALS
• STRONG RENTAL POTENTIAL
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (3.7% below list).
• Recommended offer: $135k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 10.0% 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: 248 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $1,348/mo this rent would consume 47% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($968 loan paydown + $14k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y 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.
• Current owner paid $8k; list at $140k implies a 1767% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,813 (3.7% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $103,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5297 Vancouver St	0.14mi	4/1.5	1,363 (-0%)	4mo	$60,000	$44	87
5535 Vancouver St	0.07mi	3/1.0 (-1)	1,440 (+5%)	3mo	$110,000	$76	81
5250 Vancouver St	0.18mi	4/2.0	1,450 (+6%)	1mo	$151,000	$104	76
5327 Vancouver St	0.12mi	3/1.0 (-1)	1,274 (-7%)	5mo	$40,000	$31	74
5524 Seebaldt St	0.28mi	4/2.5	1,323 (-3%)	5mo	$144,000	$109	71
5362 Allendale St	0.23mi	3/1.0 (-1)	1,200 (-12%)	2mo	$70,000	$58	62
4497 Vancouver St	0.55mi	3/1.5 (-1)	1,412 (+3%)	1mo	$150,000	$106	61
5640 Underwood Ave	0.50mi	3/1.0 (-1)	1,450 (+6%)	2mo	$65,000	$45	60
7007 Joy Rd	0.57mi	4/1.0	1,200 (-12%)	0mo	$85,000	$71	52
5125 Whitfield St	0.48mi	4/2.0	1,530 (+12%)	2mo	$136,800	$89	52
9539 Beechwood St St	0.75mi	3/1.0 (-1)	1,440 (+5%)	2mo	$36,000	$25	50
8801 Monica St	0.63mi	3/1.0 (-1)	1,176 (-14%)	1mo	$120,000	$102	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 3.26×
• Total profit: $88,588
• Equity at exit: $126,123

10-year hold

• IRR: 24.9%
• Equity multiple: 7.40×
• Total profit: $251,064
• Equity at exit: $271,989

Cash invested: $39,200 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,348 high
• Mortgage (P&I): −$734
• Tax from tax record: −$78 /mo · $938/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $194

Break-even live

Break-even rent $1,102

Max offer price $140,000

Occupancy floor 81%

Sensitivity live

Price	-10% $274	-5% $234	+0% $194	+5% $155	+10% $115
Rent	-10% $88	-5% $141	+0% $194	+5% $248	+10% $301
Rate	-1.0pp $265	-0.5pp $230	base $194	+0.5pp $158	+1.0pp $121

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	18d	1	0.44mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	25d	1	0.67mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	25d	1	0.67mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	45d	1	0.87mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	18d	1	0.94mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	25d	1	0.94mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	45d	1	0.99mi
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	18d	1	1.09mi
8320 Northlawn St Detroit, MI	3.0	1.0	1737	$1,550	$0.89	22d	1	1.16mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	45d	1	1.19mi
8230 Ohio St Detroit, MI	3.0	1.0	1350	$1,200	$0.89	18d	1	1.21mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	18d	1	1.29mi
8143 Wisconsin St Detroit, MI	4.0	1.0	1370	$1,800	$1.31	0d	1	1.31mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	45d	1	1.46mi

Listing history 27 events

1. 2026-04-07
   status Pending 935-char remark

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

2. 2026-04-07
   status Pending

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

3. 2026-03-14
   status Active 935-char remark

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

4. 2026-03-14
   status Active

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

5. 2026-03-12
   historical Accepting Backup Offers 935-char remark

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

6. 2026-03-12
   historical Active Under Contract

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

7. 2026-03-04
   listed $140,000 Active 935-char remark

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

8. 2026-03-04
   listed $140,000 Active

   Show marketing remark (935 chars)

   Excellent opportunity to acquire a fully remodeled, income-producing ready property in the 48204 area of Detroit. This two-story home has been renovated throughout, minimizing immediate capital expenditures and offering strong rental potential. The property features 4 bedrooms and 2 full bathrooms, a modern open-concept kitchen, updated mechanicals and finishes, and a 1-car garage. The functional layout and size make it attractive for both long-term tenants and potential Section 8 opportunities or first time buyers. With Detroit's continued rental demand and affordable acquisition price points compared to national averages, this property presents a solid addition to any investor's portfolio. Ideal for: • Buy-and-hold investors • Out-of-state investors seeking turnkey assets • Portfolio expansion in a high-demand rental market Move-in ready and positioned for immediate.

9. 2025-12-04
   historical
10. 2025-11-23
    price $148,000
11. 2025-11-23
    price $148,000
12. 2025-11-05
    price $149,000
13. 2025-11-04
    price $149,000
14. 2025-09-24
    listed $153,000 Active
15. 2025-09-24
    listed $153,000 Active
16. 2025-09-23
    historical
17. 2007-02-12
    soldstatus $7,500
18. 2007-01-24
    historical
19. 2006-09-22
    listed $9,900
20. 2006-09-11
    historical
21. 2006-03-17
    listed $72,500
22. 2004-06-08
    soldstatus $60,000
23. 2004-02-26
    soldstatus $60,000
24. 2004-01-05
    historical
25. 2003-09-30
    historical
26. 2003-09-26
    listed $67,900
27. 2003-09-05
    listed $67,900

ⓘ 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: $938 · $78/mo
• Projected year-2 tax: $1,547 · $129/mo
• Expected delta: +$609/yr (+$51/mo · 65.0%)

ⓘ 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: $16,178
• − Mortgage interest: −$7,842
• − Property taxes: −$938
• − Insurance: −$700
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$4,073
• Taxable income: $36
• Est. tax owed @ 24.0%: −$9
• After-tax cash flow: $2,324/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• Rent YoY: —
• 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

+106.2% since first listed

27 events — show timeline

• 2026-04-07 Pending — MiRealSource-MiMLS
• 2026-04-07 Pending — REALCOMP
• 2026-03-14 Relisted — MiRealSource-MiMLS
• 2026-03-14 Relisted — REALCOMP
• 2026-03-12 Contingent — MiRealSource-MiMLS
• 2026-03-12 Contingent — REALCOMP
• 2026-03-04 Listed $140,000 REALCOMP
• 2026-03-04 Listed $140,000 MiRealSource-MiMLS
• 2025-12-04 Listing Removed — MiRealSource-MiMLS
• 2025-11-23 Price Changed $148,000 MiRealSource-MiMLS
• 2025-11-23 Price Changed $148,000 REALCOMP
• 2025-11-05 Price Changed $149,000 MiRealSource-MiMLS
• 2025-11-04 Price Changed $149,000 REALCOMP
• 2025-09-24 Listed $153,000 MiRealSource-MiMLS
• 2025-09-24 Listed $153,000 REALCOMP
• 2025-09-23 Coming Soon — MiRealSource-MiMLS
• 2007-02-12 Sold (MLS) $7,500 MiRealSource-MiMLS
• 2007-01-24 Listing Removed — MiRealSource-MiMLS
• 2006-09-22 Listed $9,900 MiRealSource-MiMLS
• 2006-09-11 Listing Removed — REALCOMP
• 2006-03-17 Listed $72,500 REALCOMP
• 2004-06-08 Sold (Public Records) $60,000 Public Records
• 2004-02-26 Sold (MLS) $60,000 MiRealSource-MiMLS
• 2004-01-05 Listing Removed — REALCOMP
• 2003-09-30 Listing Removed — MiRealSource-MiMLS
• 2003-09-26 Listed $67,900 REALCOMP
• 2003-09-05 Listed $67,900 MiRealSource-MiMLS

Property tax history

-2.3%/yr

Latest (2025): $938 · +290.7% YoY. Source: county tax records.