2503 Calvert St · Detroit, MI 48206 1588

$2,000

None bd · 2.5 ba · 2,850 sqft · Townhouse public records

Built 1920

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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
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Key facts

• Built 1920

What this means for you Summary

Snapshot

• This is a ?-bed/2.5-bath townhouse listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Cap rate 766.1% 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: 1 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $74 of equity ($14 loan paydown + $60 appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $560 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,000

Questions for the listing agent

1. Built in 1920 — 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. 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?
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: 81.02% ✓
• Cap rate: 766.11%
• Cash-on-cash: 2713.62%
• DSCR: 121.74
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 145.50×
• Total profit: $80,920
• Equity at exit: $899

10-year hold

• IRR: —
• Equity multiple: 313.62×
• Total profit: $175,068
• Equity at exit: $1,386

Cash invested: $560 (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 48206 1588

• Active inventory: 1
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$10
• Tax est. 1.5%: −$2 /mo · $30/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $1,266

Break-even live

Break-even rent $17

Max offer price $2,000

Occupancy floor 17%

Sensitivity live

Price	-10% $1,268	-5% $1,267	+0% $1,266	+5% $1,266	+10% $1,265
Rent	-10% $1,138	-5% $1,202	+0% $1,266	+5% $1,330	+10% $1,394
Rate	-1.0pp $1,267	-0.5pp $1,267	base $1,266	+0.5pp $1,266	+1.0pp $1,265

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: $500
• Closing costs: $60
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	17d	1	0.60mi
3259 Cortland St Detroit, MI	3.0	1.0	3900	$1,500	$0.38	44d	1	0.70mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	2d	1	0.71mi
1501 Taylor St #2 Detroit, MI	2.0	1.0	3734	$925	$0.25	44d	1	0.91mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	24d	1	1.11mi
4046 Tyler St Detroit, MI	2.0	1.0	2378	$1,050	$0.44	13d	1	1.21mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	44d	1	1.22mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	25d	1	1.23mi
634 Atkinson St Detroit, MI	3.0	3.5	3000	$6,500	$2.17	10d	1	1.33mi

Listing history 7 events

1. 2025-06-27
   status Pending
2. 2024-12-18
   historical
3. 2023-03-27
   soldstatus $90,000
4. 2009-11-12
   historical
5. 2009-10-28
   listed $2,000
6. 2009-10-28
   listed $2,000
7. 2005-11-18
   soldstatus $85,000

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

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: $19,446
• − Mortgage interest: −$112
• − Property taxes: −$30
• − Insurance: −$10
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$58
• Taxable income: $16,124
• Est. tax owed @ 24.0%: −$3,870
• After-tax cash flow: $11,326/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+5.9% since first listed

7 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2024-12-18 Listing Removed — REALCOMP
• 2023-03-27 Sold (Public Records) $90,000 Public Records
• 2009-11-12 Listing Removed — MiRealSource-MiMLS
• 2009-10-28 Listed $2,000 MiRealSource-MiMLS
• 2009-10-28 Listed $2,000 REALCOMP
• 2005-11-18 Sold (Public Records) $85,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,299 · -36.4% YoY. Source: county tax records.