16701 Greenfield Rd · Detroit, MI 48235

$384,000

16 bd · 12.0 ba · 10,950 sqft · MultiFamily · 156 Days on market

Built 1954 Good condition 0.31 ac lot $35/sqft · 27% below area Est $523k · 27% under

---

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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

PRICED TO SELL. SELLER IS OPEN TO LAND CONTRACT TERMS WITH 30% DOWN. great properties in upcoming Greenfield/ W McNichols community. Many units are already turned with new vinyl floors and kitchens. Boiler and hot water tanks are in great shape. Property is already professionally managed.

Key facts

• 0.31 acre lot
• Built 1954
• Listed 155 days

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/2.4-bath units multifamily listed at $384k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $777/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $384k).
• Recommended offer: $338k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.4% vs local median 9.8% 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: 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.
• Zoned schools: John R King Academic And Performing Arts Academy (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 814 students, 92% FRL); Henry Ford High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 712 students, 86% FRL) — zoned schools at 89% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 320 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,655/mo per unit this rent would consume 51% of the median local household income ($39k/yr) — 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 $3k of loan paydown is wiped out by about $12k 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 + 3.2% rent growth), your $108k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y ago; this cycle's ask has dropped $72k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $77k; list at $384k implies a 399% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $337,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.15% ✓
• Cap rate: 18.43%
• Cash-on-cash: 43.33%
• DSCR: 2.93
• GRM: 3.9

CMA / ARV

• ARV (median comp): $523,493
• List price: $384,000
• Delta: -26.65%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13910 Littlefield St	2.09mi	16/8.0	8,000 (-27%)	46mo	$345,000	$43	4

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 2.74×
• Total profit: $187,279
• Equity at exit: $57,256

10-year hold

• IRR: 46.9%
• Equity multiple: 5.56×
• Total profit: $490,621
• Equity at exit: $33,201

Cash invested: $107,520 (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 48235

• Rents YoY: 3.2%
• Active inventory: 320
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $8,274 high
• Mortgage (P&I): −$2,014
• Tax est. 1.5%: −$480 /mo · $5,760/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,738
• Net cashflow: $3,883

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	2.4	$8,275
Total (5 units)			$8,274

Break-even live

Break-even rent $3,359

Max offer price $384,000

Occupancy floor 48%

Sensitivity live

Price	-10% $4,148	-5% $4,015	+0% $3,883	+5% $3,750	+10% $3,617
Rent	-10% $3,229	-5% $3,556	+0% $3,883	+5% $4,210	+10% $4,536
Rate	-1.0pp $4,076	-0.5pp $3,980	base $3,883	+0.5pp $3,783	+1.0pp $3,682

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: $96,000
• Closing costs: $11,520
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16612 Prevost St Detroit, MI	3.0	1.5	2152	$1,800	$0.84	5d	1	0.17mi
16824 Rutherford St Detroit, MI	3.0	1.0	951	$1,300	$1.37	10d	1	0.25mi
16824 Rutherford St Detroit, MI	3.0	1.0	—	$1,300	—	124d	1	0.25mi
16836 Rutherford St Detroit, MI	3.0	2.0	1531	$1,795	$1.17	109d	1	0.25mi
16571 Coyle St Detroit, MI	3.0	1.0	1038	$1,200	$1.16	10d	1	0.28mi
16571 Coyle St Detroit, MI	3.0	1.0	—	$1,200	—	28d	1	0.28mi
15818 Puritan Ave Detroit, MI	2.0	1.0	—	$950	—	165d	1	0.31mi
15818 Puritan Ave Detroit, MI	2.0	1.0	—	$950	—	10d	1	0.31mi
15818 Puritan Ave Detroit, MI	1.0–2.0	1.0	—	$950	—	3d	2	0.31mi
17165 Prevost St Detroit, MI	3.0	1.0	1060	$1,650	$1.56	10d	1	0.33mi
16544 Saint Marys St Detroit, MI	2.0	1.0	—	$1,100	—	88d	1	0.35mi
17322 Greenfield Rd Detroit, MI	2.0	1.0	—	$1,050	—	129d	1	0.36mi
16822 Robson St Detroit, MI	4.0	1.0	2145	$1,800	$0.84	10d	1	0.38mi
16586 Murray Hill St Detroit, MI	2.0	1.0	740	$1,100	$1.49	37d	1	0.40mi
16151 Robson St Detroit, MI	3.0	1.0	1300	$1,525	$1.17	156d	1	0.41mi
16601 Murray Hill St Detroit, MI	3.0	1.0	1200	$1,395	$1.16	79d	1	0.42mi
16559 Murray Hill St Detroit, MI	3.0	1.0	—	$1,199	—	22d	1	0.43mi
16559 Murray Hill St Detroit, MI	3.0	1.0	1104	$1,199	$1.09	10d	1	0.43mi
16559 Murray Hill St Detroit, MI	3.0	1.0	1104	$1,150	$1.04	2d	1	0.43mi
16672 Lauder St Detroit, MI	4.0	1.5	1400	$1,500	$1.07	10d	1	0.43mi
15866 Mansfield St Detroit, MI	3.0	1.0	1324	$1,425	$1.08	165d	1	0.45mi
16752 Asbury Park Detroit, MI	2.0	1.0	—	$1,200	—	184d	1	0.45mi
16800 Asbury Park Detroit, MI	2.0	1.5	—	$1,350	—	165d	1	0.45mi
17326 Mansfield St Detroit, MI	3.0	1.5	1035	$1,400	$1.35	10d	1	0.46mi
16544 Asbury Park Detroit, MI	2.0	1.0	800	$950	$1.19	51d	1	0.46mi
17380 Rutherford St Detroit, MI	3.0	1.5	—	$1,400	—	63d	1	0.46mi
16723 Asbury Park Detroit, MI	2.0	1.0	—	$1,200	—	10d	1	0.47mi
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	143d	1	0.48mi
17201 Saint Marys St Detroit, MI	2.0	1.0	1200	$1,200	$1.00	139d	1	0.48mi
16535 Asbury Park Detroit, MI	3.0	1.5	1152	$1,450	$1.26	165d	1	0.49mi
15909 Lauder St Detroit, MI	3.0	1.0	—	$1,616	—	88d	1	0.51mi
17160 Asbury Park Detroit, MI	2.0	1.0	—	$1,100	—	31d	1	0.52mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	144d	1	0.53mi
16210 Ferguson St Detroit, MI	4.0	2.0	—	$1,850	—	184d	1	0.53mi
16210 Ferguson St Detroit, MI	4.0	2.0	1493	$1,750	$1.17	36d	1	0.53mi
16210 Ferguson St Detroit, MI	4.0	2.0	—	$1,750	—	146d	1	0.53mi
15752 Rutherford St Detroit, MI	3.0	2.0	1174	$1,227	$1.05	55d	1	0.53mi
16837 Hubbell St Detroit, MI	2.0	1.0	—	$1,100	—	165d	1	0.54mi
15530 Winthrop St Detroit, MI	4.0	1.0	1573	$1,800	$1.14	6d	1	0.54mi
15810 Robson St Detroit, MI	3.0	1.0	1142	$1,500	$1.31	165d	1	0.54mi

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Utilities: Sewer availableWater available
• Home design: Multi-family residential income propertyTwo stories
• Construction: Brick constructionBrick/mortar foundationBuilt on two levels
• Exterior features: Paved road accessPets allowed (contact for details)

Interior

• Bathrooms: 12 full bathrooms
• Heating & cooling: Natural gas heatingRadiant heatingNo cooling
• Interior features: Unfinished basement

Listing history 50 events

1. 2026-11-08
   days on market $384,000 Active 156 DOM
2. 2026-11-07
   days on market $384,000 Active 155 DOM
3. 2026-11-07
   price $384,000 Active 154 DOM
4. 2026-11-06
   days on market $420,000 Active 154 DOM
5. 2026-11-05
   days on market $420,000 Active 153 DOM
6. 2026-11-04
   days on market $420,000 Active 152 DOM
7. 2026-11-02
   days on market $420,000 Active 150 DOM
8. 2026-11-01
   days on market $420,000 Active 149 DOM
9. 2026-10-31
   days on market $420,000 Active 148 DOM
10. 2026-10-30
    days on market $420,000 Active 147 DOM
11. 2026-10-29
    days on market $420,000 Active 146 DOM
12. 2026-10-28
    days on market $420,000 Active 145 DOM
13. 2026-10-27
    days on marketlisting id $420,000 Active 144 DOM
14. 2026-10-26
    days on market $420,000 Active 143 DOM
15. 2026-10-25
    days on market $420,000 Active 142 DOM
16. 2026-10-24
    days on market $420,000 Active 141 DOM
17. 2026-10-23
    days on market $420,000 Active 140 DOM
18. 2026-10-22
    days on market $420,000 Active 139 DOM
19. 2026-10-21
    days on market $420,000 Active 138 DOM
20. 2026-10-20
    days on market $420,000 Active 137 DOM
21. 2026-10-19
    days on market $420,000 Active 136 DOM
22. 2026-10-18
    days on market $420,000 Active 135 DOM
23. 2026-10-17
    days on market $420,000 Active 134 DOM
24. 2026-10-16
    days on market $420,000 Active 133 DOM
25. 2026-10-15
    days on market $420,000 Active 132 DOM
26. 2026-10-14
    days on market $420,000 Active 131 DOM
27. 2026-10-13
    days on market $420,000 Active 130 DOM
28. 2026-10-12
    days on market $420,000 Active 129 DOM
29. 2026-10-11
    days on market $420,000 Active 128 DOM
30. 2026-10-10
    days on market $420,000 Active 127 DOM
31. 2026-10-09
    days on market $420,000 Active 126 DOM
32. 2026-10-08
    days on market $420,000 Active 125 DOM
33. 2026-10-07
    days on market $420,000 Active 124 DOM
34. 2026-10-06
    days on market $420,000 Active 123 DOM
35. 2026-10-05
    days on market $420,000 Active 122 DOM
36. 2026-10-04
    days on market $420,000 Active 121 DOM
37. 2026-10-04
    days on market $420,000 Active 120 DOM
38. 2026-10-02
    days on market $420,000 Active 119 DOM
39. 2026-10-01
    days on market $420,000 Active 118 DOM
40. 2026-09-30
    days on market $420,000 Active 117 DOM
41. 2026-09-29
    days on market $420,000 Active 116 DOM
42. 2026-09-28
    days on market $420,000 Active 115 DOM
43. 2026-09-27
    days on market $420,000 Active 114 DOM
44. 2026-09-25
    days on market $420,000 Active 112 DOM
45. 2026-09-24
    days on market $420,000 Active 111 DOM
46. 2026-09-23
    days on market $420,000 Active 110 DOM
47. 2026-09-22
    days on market $420,000 Active 109 DOM
48. 2026-09-21
    days on market $420,000 Active 108 DOM
49. 2026-09-20
    days on market $420,000 Active 107 DOM
50. 2026-09-19
    days on market $420,000 Active 106 DOM

ⓘ 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 ≥98°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: $99,288
• − Mortgage interest: −$21,510
• − Property taxes: −$5,760
• − Insurance: −$1,920
• − Repairs & maintenance: −$7,943
• − Management: −$7,943
• − Depreciation: −$11,171
• Taxable income: $43,041
• Est. tax owed @ 24.0%: −$10,330
• After-tax cash flow: $36,263/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $54,750–$164,250 screening

This multi-family property is in good condition with minimal repairs needed. It is already professionally managed and has been updated with new vinyl floors and kitchens, making it a solid investment opportunity.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics, attracting both buyers and renters. ↑
• Both Landscaping and trimming the yard — A well-maintained yard improves curb appeal and can attract more potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 15/100

Zoned Schools

Elementary John R King Academic And Performing Arts Academy F MI #1,325/1,397 Nat'l #40,579/41,679 High Henry Ford High School F MI #481/713 Nat'l #12,478/17,239

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

B Composite livability gradescore 73/100

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 · 1,675,273 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 45,600
• Household income: $39,265
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 12% of renters

---

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% White 3% Two or more races 2% Hispanic / Latino 1%
• Languages at home: 98% English-only · Spanish 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: ▼ -153.02%
• Current HPI: 263.6326
• Rent YoY: ▲ 3.25%
• 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

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Utilities: Sewer availableWater available
• Home design: Multi-family residential income propertyTwo stories
• Construction: Brick constructionBrick/mortar foundationBuilt on two levels
• Exterior features: Paved road accessPets allowed (contact for details)

Interior

• Bathrooms: 12 full bathrooms
• Heating & cooling: Natural gas heatingRadiant heatingNo cooling
• Interior features: Unfinished basement

Price history

+314.5% since first listed

19 events — show timeline

• 2026-06-05 Listed $456,000 REALCOMP
• 2026-06-05 Listed $456,000 MiRealSource-MiMLS
• 2026-01-16 Rental Removed $820 REALCOMP
• 2025-06-14 Price Changed $820 REALCOMP
• 2025-03-29 Listed for Rent $920 REALCOMP
• 2025-03-25 Rental Removed $920 REALSOURCE
• 2025-02-21 Listed for Rent $920 REALSOURCE
• 2025-02-14 Rental Removed $920 REALCOMP
• 2025-01-17 Listed for Rent $920 REALCOMP
• 2015-05-12 Listing Removed — MiRealSource-MiMLS
• 2015-03-20 Listed $250,000 MiRealSource-MiMLS
• 2014-05-20 Listing Removed — MiRealSource-MiMLS
• 2013-11-20 Listed $204,000 MiRealSource-MiMLS
• 2013-03-19 Listing Removed — MiRealSource-MiMLS
• 2012-02-23 Listed $198,000 MiRealSource-MiMLS
• 2011-12-07 Listing Removed — MiRealSource-MiMLS
• 2011-09-19 Listed $269,900 MiRealSource-MiMLS
• 2011-03-31 Sold (MLS) $77,000 MiRealSource-MiMLS
• 2010-10-27 Listed $110,000 MiRealSource-MiMLS