6419 Roosevelt St · Detroit, MI 48208

$15,000

3 bd · 1.0 ba · 1,143 sqft · SingleFamily public records · 336 Days on market

Built 1905 3,920 sqft lot

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is sold in a bundle with 4 vacant lots 6403, 6407, 6413, and 6427 Roosevelt. Not sold separately. Lots total 19,422 sqft. Zoned R2. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. Also include plans for the vacant lots with sketches and financing. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. See attached documents for guidelines and submission instructions. BATVAI

Key facts

• 3,920 sq ft lot
• Built 1905
• Listed 336 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $917 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• Cap rate 79.7% vs local median 10.0% 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: 186 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 51% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 44% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 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 + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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: property tax is 3.4% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $13,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 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 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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 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: 8.81% ✓
• Cap rate: 79.66%
• Cash-on-cash: 262.03%
• DSCR: 12.66
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $46,863
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6419 Roosevelt St	0.00mi	3/1.0	1,143 (0%)	1mo	$15,000	$13	99
3532 Moore Pl Pl	0.08mi	3/1.5	1,181 (+3%)	1mo	$12,000	$10	88
6052 Hartford St	0.36mi	3/1.0	1,144 (+0%)	8mo	$110,000	$96	76
5261 24th St	0.35mi	3/1.0	1,132 (-1%)	12mo	$87,000	$77	72
3005 Lothrop St	0.56mi	3/1.0	1,200 (+5%)	2mo	$48,900	$41	63
6769 Scotten St	0.38mi	3/1.0	1,239 (+8%)	12mo	$6,225	$5	58
6788 Scotten St	0.37mi	3/1.0	1,247 (+9%)	12mo	$6,225	$5	57
6014 Beechwood St	0.65mi	3/1.0	1,201 (+5%)	8mo	$31,200	$26	55
3283 Northwestern St	0.56mi	3/1.0	1,259 (+10%)	7mo	$55,000	$44	51
4288 Larchmont St	0.51mi	3/1.5	1,248 (+9%)	10mo	$55,000	$44	51
5772 Woodrow St	0.61mi	4/1.5 (+1)	1,200 (+5%)	10mo	$149,000	$124	48
3286 Columbus St	0.74mi	3/1.0	1,272 (+11%)	6mo	$13,600	$11	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.34×
• Total profit: $56,014
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 30.55×
• Total profit: $124,127
• Equity at exit: $1,297

Cash invested: $4,200 (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 48208

• Home prices YoY: -5.9%
• Active inventory: 186
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,322 high
• Mortgage (P&I): −$79
• Tax from tax record: −$42 /mo · $506/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $917

Break-even live

Break-even rent $161

Max offer price $15,000

Occupancy floor 26%

Sensitivity live

Price	-10% $926	-5% $921	+0% $917	+5% $913	+10% $909
Rent	-10% $813	-5% $865	+0% $917	+5% $969	+10% $1,022
Rate	-1.0pp $925	-0.5pp $921	base $917	+0.5pp $913	+1.0pp $909

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	25d	1	0.40mi
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	23d	1	0.40mi
1493 W Grand Blvd Detroit, MI	2.0	1.0	1250	$1,145	$0.92	45d	1	0.51mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	45d	1	0.53mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	45d	1	0.57mi
4016 Hogarth St Unit 4018 Hogarth Lower Detroit, MI	2.0	1.0	1200	$1,100	$0.92	5d	1	0.63mi
6077 Linwood St Detroit, MI	2.0	1.0	1200	$2,000	$1.67	45d	1	0.65mi
4566 Seebaldt St Detroit, MI	2.0	1.0	1200	$1,250	$1.04	23d	1	0.67mi
6144 16th St Detroit, MI	3.0	1.0	1284	$1,200	$0.93	45d	1	0.83mi
5440 Milford St Unit 1 Detroit, MI	2.0	1.0	850	$1,150	$1.35	45d	1	0.85mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	45d	1	0.94mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	25d	1	0.95mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	25d	1	0.95mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	25d	1	1.01mi
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	18d	1	1.01mi
4619 16th St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	4d	1	1.03mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	18d	1	1.06mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	18d	1	1.10mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	45d	1	1.18mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	25d	1	1.18mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	45d	1	1.18mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	45d	1	1.18mi
6183 Hecla St Detroit, MI	3.0	1.0	1100	$1,700	$1.55	25d	1	1.21mi
2531 Pingree St Unit 2 (FL 2) Detroit, MI	3.0	1.0	893	$1,100	$1.23	3d	1	1.25mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	45d	1	1.26mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,453	$1.02	0d	1	1.27mi
3998 15th St Unit 1 Detroit, MI	2.0	1.0	1200	$1,300	$1.08	45d	1	1.28mi
7340 Churchill St Unit 2 Detroit, MI	2.0	1.0	1046	$1,100	$1.05	25d	1	1.30mi
1800 W Bethune St Unit 1228665P Detroit, MI	2.0	1.0	904	$3,135	$3.47	45d	1	1.33mi
1800 W Bethune St Detroit, MI	2.0	1.0	800	$1,850	$2.31	45d	1	1.34mi
1800 W Bethune St Detroit, MI	2.0	1.0	656	$1,645	$2.51	25d	3	1.34mi
1974 Virginia Park St Detroit, MI	2.0	2.0	1200	$1,995	$1.66	45d	1	1.38mi
4848 Commonwealth St Unit 4 Detroit, MI	2.0	1.0	710	$1,245	$1.75	45d	1	1.41mi
4031 Wesson St Apt 109 Detroit, MI	2.0	1.0	1000	$1,190	$1.19	45d	1	1.42mi
7640 Woodrow Wilson St Unit 1 Detroit, MI	3.0	1.5	1095	$1,400	$1.28	45d	1	1.42mi
3759 Atkinson St Unit 2 Detroit, MI	2.0	1.0	919	$1,200	$1.31	25d	1	1.46mi
2021 Blaine St Detroit, MI	1.0–2.0	1.0	684	$1,200	$1.75	45d	1	1.47mi
1710 Virginia Park St Detroit, MI	2.0	2.0	1350	$1,300	$0.96	6d	1	1.49mi
2463 Taylor St Detroit, MI	3.0	1.0	1350	$1,100	$0.81	45d	1	1.50mi

Listing history 8 events

1. 2026-03-20
   status Pending 1033-char remark

   Show marketing remark (1033 chars)

   This property is sold in a bundle with 4 vacant lots 6403, 6407, 6413, and 6427 Roosevelt. Not sold separately. Lots total 19,422 sqft. Zoned R2. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. Also include plans for the vacant lots with sketches and financing. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. See attached documents for guidelines and submission instructions. BATVAI

2. 2026-03-20
   status Pending

   Show marketing remark (1033 chars)

   This property is sold in a bundle with 4 vacant lots 6403, 6407, 6413, and 6427 Roosevelt. Not sold separately. Lots total 19,422 sqft. Zoned R2. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. Also include plans for the vacant lots with sketches and financing. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. See attached documents for guidelines and submission instructions. BATVAI

3. 2025-04-18
   listed $15,000 Active 1033-char remark

   Show marketing remark (1033 chars)

   This property is sold in a bundle with 4 vacant lots 6403, 6407, 6413, and 6427 Roosevelt. Not sold separately. Lots total 19,422 sqft. Zoned R2. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. Also include plans for the vacant lots with sketches and financing. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. See attached documents for guidelines and submission instructions. BATVAI

4. 2025-04-18
   listed $15,000 Active

   Show marketing remark (1033 chars)

   This property is sold in a bundle with 4 vacant lots 6403, 6407, 6413, and 6427 Roosevelt. Not sold separately. Lots total 19,422 sqft. Zoned R2. Property needs full rehab. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan with Proof Of Funds or Pre- Approval letter, or a new construction loan. Also include plans for the vacant lots with sketches and financing. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. See attached documents for guidelines and submission instructions. BATVAI

5. 2008-10-28
   historical
6. 2008-09-25
   listed $2,600
7. 2008-08-21
   historical
8. 2008-05-21
   listed $6,900

ⓘ 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: $506 · $42/mo
• Projected year-2 tax: $506 · $42/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: $15,861
• − Mortgage interest: −$840
• − Property taxes: −$506
• − Insurance: −$75
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − Depreciation: −$436
• Taxable income: $11,465
• Est. tax owed @ 24.0%: −$2,752
• After-tax cash flow: $8,253/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): 8,037
• Household income: $36,194
• Rent vs Own: 65.7% rent · 34.3% own
• Severe rent burden: 601.0

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 (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5% Arabic 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: ▼ -10.56%
• Current HPI: 168.8907
• 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

+117.4% since first listed

8 events — show timeline

• 2026-03-20 Pending — MiRealSource-MiMLS
• 2026-03-20 Pending — REALCOMP
• 2025-04-18 Listed $15,000 REALCOMP
• 2025-04-18 Listed $15,000 MiRealSource-MiMLS
• 2008-10-28 Listing Removed — REALCOMP
• 2008-09-25 Listed $2,600 REALCOMP
• 2008-08-21 Listing Removed — REALCOMP
• 2008-05-21 Listed $6,900 REALCOMP

Property tax history

+7.0%/yr

Latest (2025): $506 · +0.0% YoY. Source: county tax records.