2965 W Grand St · Detroit, MI 48238

$79,000

4 bd · 2.0 ba · 2,100 sqft · MultiFamily public records · 22 Days on market

Built 1925 4,356 sqft lot Est $86k · 8% under

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Why this score? — see what drove the B 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
• ARV discount +11.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Brick Multi Unit . . Lots of Room. . Needs Rehab

Key facts

• 4,356 sq ft lot
• Built 1925
• Listed 22 days

Property features AI

Exterior

• Utilities: Water available; Sewer available
• Home design: Multi-family residential income property; Two-story building
• Construction: Brick construction; Block foundation; Built area above grade: 2,100 square feet
• Exterior features: Paved road frontage; Pets allowed; Lot approximately 0.1 acre (35 x 119.32)

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms total; each unit has 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $79k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.6% 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: Rents rising fast (+6.1%/yr); 346 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $2,180/mo this rent would consume 79% of the median local household income ($33k/yr) (locally 2172% 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 $546 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 + 6.1% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.76% ✓
• Cap rate: 23.60%
• Cash-on-cash: 61.80%
• DSCR: 3.75
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $86,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2505 W Buena Vista St	0.40mi	4/2.0	2,106 (+0%)	1mo	$30,000	$14	80
2311 Clements St	0.46mi	4/2.0	2,110 (+0%)	2mo	$130,000	$62	76
2468 Ford St	0.34mi	4/2.5	2,140 (+2%)	4mo	$88,000	$41	75
2691 Pasadena St	0.14mi	4/2.0	2,402 (+14%)	0mo	$85,000	$35	69
3012 Fullerton St	0.45mi	4/2.0	1,993 (-5%)	2mo	$123,000	$62	69
2682 Clements St	0.14mi	4/2.0	1,800 (-14%)	10mo	$65,000	$36	61
1991-1993 Glendale St	0.72mi	4/2.0	2,024 (-4%)	2mo	$70,000	$35	59
2045 Clements St	0.58mi	4/2.0	1,928 (-8%)	1mo	$80,000	$41	58
2293 Kendall St	0.51mi	4/2.0	1,890 (-10%)	6mo	$150,000	$79	54
4343 Waverly St	0.71mi	4/2.5	2,046 (-3%)	12mo	$175,000	$86	50
2037 Ford St	0.60mi	4/2.0	1,824 (-13%)	6mo	$7,000	$4	45
4308 Tyler St	0.68mi	5/2.0 (+1)	2,300 (+10%)	9mo	$195,000	$85	39

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 64.3%
• Equity multiple: 4.02×
• Total profit: $66,909
• Equity at exit: $11,779

10-year hold

• IRR: 69.8%
• Equity multiple: 9.27×
• Total profit: $183,006
• Equity at exit: $6,830

Cash invested: $22,120 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,180 high
• Mortgage (P&I): −$414
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $1,139

Break-even live

Break-even rent $738

Max offer price $79,000

Occupancy floor 43%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,180
Total (2 units)			$2,180

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	43d	1	0.10mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	23d	1	0.40mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	14d	1	0.56mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	16d	1	0.63mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	4d	1	0.76mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	0.88mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	43d	1	0.89mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	0.91mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	0.91mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.91mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.91mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	1.04mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	1.05mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	1.12mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.17mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	3d	1	1.36mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	14d	1	1.37mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	43d	1	1.43mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	43d	1	1.45mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.47mi

Listing history 15 events

1. 2026-06-18
   days on market $79,000 Active 22 DOM
2. 2026-06-17
   days on market $79,000 Active 21 DOM
3. 2026-06-15
   days on market $79,000 Active 19 DOM
4. 2026-06-13
   days on market $79,000 Active 17 DOM
5. 2026-06-13
   days on market $79,000 Active 16 DOM
6. 2026-06-09
   days on market $79,000 Active 13 DOM
7. 2026-06-08
   days on market $79,000 Active 12 DOM
8. 2026-06-07
   days on market $79,000 Active 11 DOM
9. 2026-06-04
   days on market $79,000 Active 8 DOM
10. 2026-06-03
    days on market $79,000 Active 7 DOM
11. 2026-06-02
    days on market $79,000 Active 6 DOM
12. 2026-06-01
    days on market $79,000 Active 5 DOM
13. 2026-05-31
    days on market $79,000 Active 4 DOM
14. 2026-05-27
    listed $79,000 Active

    Show marketing remark (48 chars)

    Brick Multi Unit . . Lots of Room. . Needs Rehab

15. 2026-05-27
    listed $79,000 Active 48-char remark

    Show marketing remark (48 chars)

    Brick Multi Unit . . Lots of Room. . Needs Rehab

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $1,631 · $136/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $26,160
• − Mortgage interest: −$4,425
• − Property taxes: −$1,631
• − Insurance: −$395
• − Repairs & maintenance: −$2,093
• − Management: −$2,093
• − Depreciation: −$2,298
• Taxable income: $13,225
• Est. tax owed @ 24.0%: −$3,174
• After-tax cash flow: $10,495/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 1%

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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

2 events — show timeline

• 2026-05-27 Listed $79,000 REALCOMP
• 2026-05-27 Listed $79,000 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $1,631 · -50.2% YoY. Source: county tax records.