1234 Edison St · Detroit, MI 48202

$199,900

5 bd · 2.0 ba · 2,238 sqft · SingleFamily public records · 150 Days on market

Built 1916 5,227 sqft lot $89/sqft · 51% below area

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market due to buyer finance issue. Your chance to grab this deal!! This property is a rehab opportunity! For the owner occupant to create the home of their dreams. .. or for the investor to flip and make money. First come, first served! The Boston-Edison Historic District is anxious for you to be part of the neighborhood!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1916

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% 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 falling (-5.1%/yr); 257 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $2,318/mo this rent would consume 64% of the median local household income ($44k/yr) (locally 1258% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 150 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 6y 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 $149k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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: 1.16% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.64%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (median comp): $408,689
• List price: $199,900
• Delta: -51.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1419 Atkinson St	0.12mi	5/2.5	2,274 (+2%)	1mo	$225,000	$99	89
1441 Longfellow St	0.10mi	5/2.5	2,463 (+10%)	2mo	$166,000	$67	75
686 Atkinson St S	0.38mi	5/2.5	2,384 (+6%)	1mo	$195,000	$82	69
1727 Edison St	0.34mi	4/2.5 (-1)	2,410 (+8%)	4mo	$117,000	$49	62
2041 Atkinson St	0.53mi	4/2.5 (-1)	2,308 (+3%)	2mo	$235,000	$102	61
1667 Edison St	0.28mi	5/2.5	2,569 (+15%)	2mo	$439,900	$171	59
2011 Atkinson St	0.50mi	4/2.0 (-1)	2,084 (-7%)	3mo	$245,000	$118	58
2016 Atkinson St	0.50mi	5/2.5	2,001 (-11%)	3mo	$130,000	$65	54
80 Glynn Ct	0.63mi	4/2.0 (-1)	2,058 (-8%)	0mo	$365,000	$177	52
2281 Atkinson St	0.66mi	4/1.5 (-1)	2,103 (-6%)	4mo	$325,000	$155	49
100 Taylor St	0.57mi	4/2.5 (-1)	2,486 (+11%)	3mo	$140,000	$56	46
693 Calvert St	0.50mi	4/1.5 (-1)	1,914 (-14%)	4mo	$109,000	$57	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-10,520
• Equity at exit: $29,806

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $1,598
• Equity at exit: $17,284

Cash invested: $55,972 (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 48202

• Rents YoY: -5.1%
• Active inventory: 257
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,318 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $450

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 76%

Sensitivity live

Price	-10% $588	-5% $519	+0% $450	+5% $380	+10% $311
Rent	-10% $266	-5% $358	+0% $450	+5% $541	+10% $633
Rate	-1.0pp $550	-0.5pp $500	base $450	+0.5pp $398	+1.0pp $345

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	22d	1	0.42mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	0.62mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	2d	1	0.66mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	2d	1	0.80mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	0.80mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	0.80mi
216 Holbrook St Detroit, MI	4.0	2.0	2000	$2,000	$1.00	22d	1	0.83mi
216 Holbrook Unit Na Detroit, MI	4.0	2.0	2000	$2,200	$1.10	2d	1	0.83mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	0.99mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	0.99mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	2d	1	1.04mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	1.23mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	1.28mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,780	$1.05	0d	1	1.32mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	18d	1	1.34mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	17d	1	1.35mi

Listing history 37 events

1. 2026-06-18
   days on market $199,900 Active 150 DOM
2. 2026-06-17
   days on market $199,900 Active 149 DOM
3. 2026-06-15
   days on market $199,900 Active 147 DOM
4. 2026-06-13
   days on market $199,900 Active 145 DOM
5. 2026-06-13
   days on market $199,900 Active 144 DOM
6. 2026-06-09
   days on market $199,900 Active 141 DOM
7. 2026-06-08
   days on market $199,900 Active 140 DOM
8. 2026-06-07
   days on market $199,900 Active 139 DOM
9. 2026-06-04
   days on market $199,900 Active 136 DOM
10. 2026-06-03
    days on market $199,900 Active 135 DOM
11. 2026-06-01
    days on market $199,900 Active 133 DOM
12. 2026-05-31
    days on market $199,900 Active 132 DOM
13. 2026-04-17
    status Active 332-char remark

    Show marketing remark (332 chars)

    Back on market due to buyer finance issue. Your chance to grab this deal!! This property is a rehab opportunity! For the owner occupant to create the home of their dreams. .. or for the investor to flip and make money. First come, first served! The Boston-Edison Historic District is anxious for you to be part of the neighborhood!

14. 2026-04-17
    status Back on Market 332-char remark

    Show marketing remark (332 chars)

    Back on market due to buyer finance issue. Your chance to grab this deal!! This property is a rehab opportunity! For the owner occupant to create the home of their dreams. .. or for the investor to flip and make money. First come, first served! The Boston-Edison Historic District is anxious for you to be part of the neighborhood!

15. 2026-03-17
    historical Active Under Contract 332-char remark

    Show marketing remark (332 chars)

    Back on market due to buyer finance issue. Your chance to grab this deal!! This property is a rehab opportunity! For the owner occupant to create the home of their dreams. .. or for the investor to flip and make money. First come, first served! The Boston-Edison Historic District is anxious for you to be part of the neighborhood!

16. 2026-03-17
    historical Accepting Backup Offers 332-char remark

    Show marketing remark (332 chars)

    Back on market due to buyer finance issue. Your chance to grab this deal!! This property is a rehab opportunity! For the owner occupant to create the home of their dreams. .. or for the investor to flip and make money. First come, first served! The Boston-Edison Historic District is anxious for you to be part of the neighborhood!

17. 2026-01-19
    listed $199,900 Active 332-char remark

    Show marketing remark (332 chars)

    Back on market due to buyer finance issue. Your chance to grab this deal!! This property is a rehab opportunity! For the owner occupant to create the home of their dreams. .. or for the investor to flip and make money. First come, first served! The Boston-Edison Historic District is anxious for you to be part of the neighborhood!

18. 2026-01-19
    listed $199,900 Active 332-char remark

    Show marketing remark (332 chars)

    Back on market due to buyer finance issue. Your chance to grab this deal!! This property is a rehab opportunity! For the owner occupant to create the home of their dreams. .. or for the investor to flip and make money. First come, first served! The Boston-Edison Historic District is anxious for you to be part of the neighborhood!

19. 2023-04-04
    historical
20. 2023-04-04
    historical
21. 2022-12-19
    listed $399,000 Active
22. 2022-12-19
    listed $399,000 Active
23. 2022-07-20
    historical
24. 2022-07-20
    historical
25. 2022-04-10
    status Active
26. 2022-03-18
    status Active
27. 2022-03-10
    historical
28. 2022-03-09
    historical
29. 2022-03-05
    listed $324,900 Active
30. 2022-03-05
    listed $324,900 Active
31. 2021-01-25
    soldstatus $149,000 Sold
32. 2021-01-25
    soldstatus $149,000 Closed
33. 2020-12-21
    status Pending
34. 2020-12-21
    historical
35. 2020-12-01
    historical Accepting Backup Offers
36. 2020-11-04
    listed $175,000 Active
37. 2020-11-04
    listed $175,000

ⓘ 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 ≥96°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: $27,812
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,225
• − Management: −$2,225
• − Depreciation: −$5,815
• Taxable income: $2,352
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $4,830/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): 15,780
• Household income: $43,627
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1258.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 60% White 26% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 2% 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: ▼ -239.24%
• Current HPI: 145.5509
• Rent YoY: ▼ -5.13%
• 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

+14.2% since first listed

25 events — show timeline

• 2026-04-17 Relisted — REALCOMP
• 2026-04-17 Relisted — MiRealSource-MiMLS
• 2026-03-17 Contingent — REALCOMP
• 2026-03-17 Contingent — MiRealSource-MiMLS
• 2026-01-19 Listed $199,900 REALCOMP
• 2026-01-19 Listed $199,900 MiRealSource-MiMLS
• 2023-04-04 Listing Removed — MiRealSource-MiMLS
• 2023-04-04 Listing Removed — REALCOMP
• 2022-12-19 Listed $399,000 MiRealSource-MiMLS
• 2022-12-19 Listed $399,000 REALCOMP
• 2022-07-20 Listing Removed — REALCOMP
• 2022-07-20 Listing Removed — MiRealSource-MiMLS
• 2022-04-10 Relisted — MiRealSource-MiMLS
• 2022-03-18 Relisted — REALCOMP
• 2022-03-10 Listing Removed — MiRealSource-MiMLS
• 2022-03-09 Listing Removed — REALCOMP
• 2022-03-05 Listed $324,900 MiRealSource-MiMLS
• 2022-03-05 Listed $324,900 REALCOMP
• 2021-01-25 Sold (MLS) $149,000 MiRealSource-MiMLS
• 2021-01-25 Sold (MLS) $149,000 REALCOMP
• 2020-12-21 Pending — REALCOMP
• 2020-12-21 Listing Removed — MiRealSource-MiMLS
• 2020-12-01 Contingent — REALCOMP
• 2020-11-04 Listed $175,000 MiRealSource-MiMLS
• 2020-11-04 Listed $175,000 REALCOMP

Property tax history

+20.3%/yr

Latest (2025): $12,565 · -54.7% YoY. Source: county tax records.