3261 Columbus St · Detroit, MI 48206

$69,900

4 bd · 2.0 ba · 2,098 sqft · Townhouse public records · 48 Days on market

Built 1916 3,920 sqft lot $33/sqft · 50% above area Est $47k · 50% over ↓ 13% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity located at 3261 Columbus St. in the desirable Wildemere Park neighborhood! This 2-unit multifamily duplex offers approximately 2,100 sq ft of living space with spacious layouts in both units, making it ideal for investors or owner-occupants looking to add value. The property features separate utilities, providing flexibility for rental income and efficient management. With some TLC and updates, this duplex can be transformed into modern, high-demand living spaces with strong upside potential. Conveniently located just north of West Grand Boulevard, with easy access to shopping, schools, public transportation, and major thoroughfares. Bring your vision and creativity to restore this property to its full potential and capitalize on a solid opportunity in a growing Detroit neighborhood. Nearby amenities include: Wayne State University, College of Creative Studies, Henry Ford Hospital, Motown Museum, State of Michigan Building, Fisher Building and many more.

Key facts

• Multifamily duplex
• Separate utilities
• Nearby amenities

Tags

• INVESTMENT OPPORTUNITY
• MULTIFAMILY DUPLEX
• SEPARATE UTILITIES
• GROWING NEIGHBORHOOD
• NEARBY AMENITIES

Property features AI

Finance

• Other: Pets allowed
• Financial info: Property listed as residential income (multi-family)

Exterior

• Utilities: Public water; Public sewer; Paved road access
• Home design: Multi-family residential property; Two stories
• Construction: Brick construction; Block foundation; Built area above grade approximately 2,100 square feet
• Exterior features: Covered porch

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.7% 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 (+5.2%/yr); 271 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,892/mo this rent would consume 50% of the median local household income ($45k/yr) (locally 646% 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 $483 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 + 5.2% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 4 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.71% ✓
• Cap rate: 23.66%
• Cash-on-cash: 62.04%
• DSCR: 3.76
• GRM: 3.1

CMA / ARV

• ARV (median comp): $46,697
• List price: $69,900
• Delta: 49.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 63.4%
• Equity multiple: 3.93×
• Total profit: $57,425
• Equity at exit: $10,422

10-year hold

• IRR: 68.6%
• Equity multiple: 8.74×
• Total profit: $151,475
• Equity at exit: $6,044

Cash invested: $19,572 (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

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $1,012

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 42%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	16d	1	0.36mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	43d	1	0.49mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	0.49mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	43d	1	0.49mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	24d	1	0.51mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	1d	1	0.63mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,523	$1.07	5d	1	0.74mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	0.79mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	0.79mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	1d	1	0.79mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	24d	1	0.81mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	1d	1	0.86mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	0.90mi
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	16d	1	1.00mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	43d	1	1.14mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.17mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	1.19mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	43d	1	1.21mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	1.26mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	1.29mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	1.29mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.43mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.44mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	1.44mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	1.44mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.45mi

Listing history 23 events

1. 2026-06-18
   days on market $69,900 Active 48 DOM
2. 2026-06-17
   days on market $69,900 Active 47 DOM
3. 2026-06-15
   days on market $69,900 Active 45 DOM
4. 2026-06-13
   days on market $69,900 Active 43 DOM
5. 2026-06-13
   days on market $69,900 Active 42 DOM
6. 2026-06-09
   days on market $69,900 Active 39 DOM
7. 2026-06-08
   days on market $69,900 Active 38 DOM
8. 2026-06-07
   days on market $69,900 Active 37 DOM
9. 2026-06-04
   days on market $69,900 Active 34 DOM
10. 2026-06-03
    days on market $69,900 Active 33 DOM
11. 2026-06-02
    days on market $69,900 Active 32 DOM
12. 2026-06-01
    days on market $69,900 Active 31 DOM
13. 2026-05-31
    days on market $69,900 Active 30 DOM
14. 2026-05-01
    listed $69,900 Active 997-char remark

    Show marketing remark (997 chars)

    Great investment opportunity located at 3261 Columbus St. in the desirable Wildemere Park neighborhood! This 2-unit multifamily duplex offers approximately 2,100 sq ft of living space with spacious layouts in both units, making it ideal for investors or owner-occupants looking to add value. The property features separate utilities, providing flexibility for rental income and efficient management. With some TLC and updates, this duplex can be transformed into modern, high-demand living spaces with strong upside potential. Conveniently located just north of West Grand Boulevard, with easy access to shopping, schools, public transportation, and major thoroughfares. Bring your vision and creativity to restore this property to its full potential and capitalize on a solid opportunity in a growing Detroit neighborhood. Nearby amenities include: Wayne State University, College of Creative Studies, Henry Ford Hospital, Motown Museum, State of Michigan Building, Fisher Building and many more.

15. 2026-05-01
    historical

    Show marketing remark (997 chars)

    Great investment opportunity located at 3261 Columbus St. in the desirable Wildemere Park neighborhood! This 2-unit multifamily duplex offers approximately 2,100 sq ft of living space with spacious layouts in both units, making it ideal for investors or owner-occupants looking to add value. The property features separate utilities, providing flexibility for rental income and efficient management. With some TLC and updates, this duplex can be transformed into modern, high-demand living spaces with strong upside potential. Conveniently located just north of West Grand Boulevard, with easy access to shopping, schools, public transportation, and major thoroughfares. Bring your vision and creativity to restore this property to its full potential and capitalize on a solid opportunity in a growing Detroit neighborhood. Nearby amenities include: Wayne State University, College of Creative Studies, Henry Ford Hospital, Motown Museum, State of Michigan Building, Fisher Building and many more.

16. 2026-05-01
    listed $69,900 Active

    Show marketing remark (997 chars)

    Great investment opportunity located at 3261 Columbus St. in the desirable Wildemere Park neighborhood! This 2-unit multifamily duplex offers approximately 2,100 sq ft of living space with spacious layouts in both units, making it ideal for investors or owner-occupants looking to add value. The property features separate utilities, providing flexibility for rental income and efficient management. With some TLC and updates, this duplex can be transformed into modern, high-demand living spaces with strong upside potential. Conveniently located just north of West Grand Boulevard, with easy access to shopping, schools, public transportation, and major thoroughfares. Bring your vision and creativity to restore this property to its full potential and capitalize on a solid opportunity in a growing Detroit neighborhood. Nearby amenities include: Wayne State University, College of Creative Studies, Henry Ford Hospital, Motown Museum, State of Michigan Building, Fisher Building and many more.

17. 2026-05-01
    historical

    Show marketing remark (997 chars)

    Great investment opportunity located at 3261 Columbus St. in the desirable Wildemere Park neighborhood! This 2-unit multifamily duplex offers approximately 2,100 sq ft of living space with spacious layouts in both units, making it ideal for investors or owner-occupants looking to add value. The property features separate utilities, providing flexibility for rental income and efficient management. With some TLC and updates, this duplex can be transformed into modern, high-demand living spaces with strong upside potential. Conveniently located just north of West Grand Boulevard, with easy access to shopping, schools, public transportation, and major thoroughfares. Bring your vision and creativity to restore this property to its full potential and capitalize on a solid opportunity in a growing Detroit neighborhood. Nearby amenities include: Wayne State University, College of Creative Studies, Henry Ford Hospital, Motown Museum, State of Michigan Building, Fisher Building and many more.

18. 2026-04-11
    price $69,900
19. 2026-04-11
    price $69,900
20. 2026-01-07
    price $75,000
21. 2026-01-06
    price $75,000
22. 2025-12-15
    listed $79,900 Active
23. 2025-12-15
    listed $79,900 Active

ⓘ 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: $22,707
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$2,033
• Taxable income: $11,727
• Est. tax owed @ 24.0%: −$2,814
• After-tax cash flow: $9,327/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

-12.5% since first listed

10 events — show timeline

• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Listed $69,900 REALCOMP
• 2026-05-01 Listing Removed — REALCOMP
• 2026-05-01 Listed $69,900 MiRealSource-MiMLS
• 2026-04-11 Price Changed $69,900 MiRealSource-MiMLS
• 2026-04-11 Price Changed $69,900 REALCOMP
• 2026-01-07 Price Changed $75,000 MiRealSource-MiMLS
• 2026-01-06 Price Changed $75,000 REALCOMP
• 2025-12-15 Listed $79,900 REALCOMP
• 2025-12-15 Listed $79,900 MiRealSource-MiMLS

Property tax history

+9.4%/yr

Latest (2025): $3,723 · +8.6% YoY. Source: county tax records.