17565 Stoepel St · Detroit, MI 48221

$129,900

4 bd · 2.5 ba · 2,982 sqft · MultiFamily public records · 4 Days on market

Built 1930 4,356 sqft lot Est $215k · 39% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• 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: 2 units. confirmed

Listing remarks

?? Bagley Subdivision Investment Opportunity! Classic brick 2-family flat featuring a 3-bedroom lower unit and 2-bedroom upper unit. Property includes a 1-car detached garage, newer roof, and beautiful original architectural character throughout. Located in one of Detroit's most desirable neighborhoods with strong rental and value-add potential. Property requires rehab and is being sold strictly AS-IS. Cash or renovation financing preferred. Sale is subject to Probate Court approval. Buyer to verify all information and measurements. Agent is affiliated with property

Key facts

• Brick 2-family flat
• Value-add potential
• 4,356 sq ft lot

Tags

• BRICK 2-FAMILY FLAT
• STRONG RENTAL POTENTIAL
• VALUE-ADD POTENTIAL
• DESIRABLE NEIGHBORHOODS

Property features AI

Finance

• Financial info: Two total units; Net operating income reported as 0

Exterior

• Utilities: Public water; Natural gas
• Home design: Multi-family property; Two-story structure; Built in 1930; Mixed use zoning
• Construction: Basement foundation
• Exterior features: Brick exterior; Exterior balcony; Paved street access

Interior

• Bedrooms: Total of 3 bedrooms
• Bathrooms: Two full bathrooms, one lavatory (three total bathrooms/lavatories)
• Heating & cooling: Steam heating; Natural gas fuel; Gas water heater; Separate heat for units
• Interior features: Poured basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $583/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Cap rate 17.1% 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 (+3.4%/yr); 349 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,640/mo this rent would consume 55% of the median local household income ($58k/yr) (locally 1646% 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 $898 of loan paydown is wiped out by about $4k 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 + 3.4% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.03% ✓
• Cap rate: 17.06%
• Cash-on-cash: 38.45%
• DSCR: 2.71
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $214,704
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17532 Santa Rosa Dr	0.04mi	5/2.0 (+1)	2,982 (0%)	11mo	$75,000	$25	82
18634 Northlawn St	0.74mi	4/2.5	2,964 (-1%)	1mo	$213,000	$72	64
17606 Roselawn St	0.51mi	5/2.0 (+1)	2,574 (-14%)	8mo	$113,000	$44	40
16796 Greenlawn St	0.57mi	5/— (+1)	3,269 (+10%)	16mo	$265,000	$81	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 · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 35.1%
• Equity multiple: 2.50×
• Total profit: $54,402
• Equity at exit: $19,369

10-year hold

• IRR: 42.1%
• Equity multiple: 5.07×
• Total profit: $148,025
• Equity at exit: $11,231

Cash invested: $36,372 (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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,640 high
• Mortgage (P&I): −$681
• Tax from tax record: −$185 /mo · $2,219/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $1,165

Break-even live

Break-even rent $1,165

Max offer price $129,900

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$2,640
Total (2 units)			$2,640

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	3d	1	0.95mi
19510 Stratford Rd Detroit, MI	3.0	5.0	4057	$3,000	$0.74	43d	1	1.06mi
19510 Stratford Rd Detroit, MI	4.0	3.5	4057	$3,000	$0.74	14d	1	1.06mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	17d	1	1.15mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	24d	1	1.23mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	43d	1	1.36mi

Listing history 7 events

1. 2026-06-18
   days on market $129,900 Active 4 DOM
2. 2026-06-17
   days on market $129,900 Active 3 DOM
3. 2026-06-16
   days on market $129,900 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $129,900 Active 1 DOM
5. 2026-06-15
   days on market $129,900 Active 3 DOM
6. 2026-06-13
   remarks 572-char remark
7. 2026-06-13
   listed $129,900 Active 1 DOM

ⓘ 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: $2,219 · $185/mo
• Projected year-2 tax: $2,219 · $185/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: $31,680
• − Mortgage interest: −$7,276
• − Property taxes: −$2,219
• − Insurance: −$650
• − Repairs & maintenance: −$2,534
• − Management: −$2,534
• − Depreciation: −$3,779
• Taxable income: $12,688
• Est. tax owed @ 24.0%: −$3,045
• After-tax cash flow: $10,939/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

1 event — show timeline

• 2026-06-12 Listed $129,900 MiRealSource-MiMLS

Property tax history

+0.4%/yr

Latest (2025): $2,219 · -0.1% YoY. Source: county tax records.