6050 Vermont St · Detroit, MI 48208

$35,000

2 bd · 1.0 ba · 876 sqft · SingleFamily public records · 443 Days on market

Built 1915 4,792 sqft lot $40/sqft · 68% below area

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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

Attention Investors, you don't want to miss this opportunity located near Wayne State University, New Center Area, and so much more. Sale includes adjacent vacant lot 6044 Vermont. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal ( not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. 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 abatements and lot combinations 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 abatements on the purchase and development financing.

Key facts

• 4,792 sq ft lot
• Built 1915
• Listed 442 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $904 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.3% vs local median 10.1% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $1,503/mo this rent would consume 50% of the median local household income ($36k/yr) (locally 601% 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 443 days — a 12% lower offer ($31k) 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: property tax is 2.9% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 443 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 1915 — 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: 4.29% ✓
• Cap rate: 37.27%
• Cash-on-cash: 110.65%
• DSCR: 5.92
• GRM: 1.9

CMA / ARV

• ARV (median comp): $179,721
• List price: $35,000
• Delta: -80.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.30×
• Total profit: $51,928
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 13.20×
• Total profit: $119,520
• Equity at exit: $3,026

Cash invested: $9,800 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$184
• Tax from tax record: −$86 /mo · $1,027/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $904

Break-even live

Break-even rent $359

Max offer price $35,000

Occupancy floor 35%

Sensitivity live

Price	-10% $923	-5% $914	+0% $904	+5% $894	+10% $884
Rent	-10% $785	-5% $844	+0% $904	+5% $963	+10% $1,022
Rate	-1.0pp $921	-0.5pp $913	base $904	+0.5pp $895	+1.0pp $885

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6183 Hecla St Detroit, MI	3.0	1.0	1100	$1,700	$1.55	25d	1	0.13mi
6465 Sterling St Detroit, MI	1.0	1.0	410	$1,135	$2.77	4d	4	0.34mi
7340 Churchill St Unit 2 Detroit, MI	2.0	1.0	1046	$1,100	$1.05	25d	1	0.35mi
1331 Holden St Unit 210 Detroit, MI	1.0	1.0	683	$1,525	$2.23	25d	1	0.39mi
7536 Dunedin St Unit 10 Detroit, MI	1.0	1.0	650	$950	$1.46	18d	1	0.47mi
1800 W Bethune St Unit 1228665P Detroit, MI	2.0	1.0	904	$3,135	$3.47	45d	1	0.48mi
1800 W Bethune St Detroit, MI	2.0	1.0	800	$1,850	$2.31	45d	1	0.48mi
1800 W Bethune St Detroit, MI	2.0	1.0	656	$1,645	$2.51	25d	3	0.48mi
7640 Woodrow Wilson St Unit 1 Detroit, MI	3.0	1.5	1095	$1,400	$1.28	45d	1	0.53mi
1400 Seward Ave Unit 305 Detroit, MI	2.0	1.0	950	$1,295	$1.36	4d	1	0.73mi
1400 Seward Ave Unit 305 Detroit, MI	2.0	1.0	950	$1,295	$1.36	6d	1	0.73mi
1400 Seward Ave Detroit, MI	2.0	1.0	950	$1,295	$1.36	6d	1	0.73mi
4848 Commonwealth St Unit 4 Detroit, MI	2.0	1.0	710	$1,245	$1.75	45d	1	0.77mi
6201 2nd Ave Unit 213 Detroit, MI	1.0	1.0	820	$1,665	$2.03	45d	1	0.78mi
8263 Merrill St Detroit, MI	2.0	1.5	1092	$1,600	$1.47	45d	1	0.81mi
888 Pallister Detroit, MI	1.0–2.0	1.0	609	$1,250	$2.05	45d	1	0.82mi
1542 W Euclid St Detroit, MI	2.0	1.0	1100	$1,150	$1.05	6d	1	0.85mi
6200 2nd Ave Detroit, MI	1.0–2.0	1.0	914	$1,860	$2.03	3d	2	0.85mi
1226 Virginia Park St Unit 1226 Virginia Park, Upper V 1/10/26 (T) Detroit, MI	3.0	1.0	1100	$1,200	$1.09	45d	1	0.86mi
450 Amsterdam St Detroit, MI	2.0	1.0–2.0	630	$2,720	$4.32	0d	19	0.88mi
910 Seward Ave Detroit, MI	1.0	1.0	575	$1,100	$1.91	45d	1	0.89mi
870 Seward Ave Detroit, MI	1.0	1.0	575	$860	$1.50	45d	2	0.91mi
2021 Blaine St Detroit, MI	1.0–2.0	1.0	684	$1,200	$1.75	45d	1	0.95mi
4619 16th St Detroit, MI	3.0	1.0	1100	$1,250	$1.14	4d	1	0.95mi
741 Seward Ave Detroit, MI	1.0	1.0	650	$1,295	$1.99	3d	5	0.96mi
4437 Avery St Apt 1N Detroit, MI	1.0	1.0	700	$925	$1.32	13d	1	0.98mi
680 Delaware St Detroit, MI	1.0	1.0	596	$950	$1.59	13d	1	0.98mi
43 Burroughs St Unit 201 Detroit, MI	1.0	1.0	800	$1,705	$2.13	45d	1	0.99mi
691 Seward Ave Detroit, MI	1.0	1.0	556	$822	$1.48	23d	1	0.99mi
7430 2nd Ave Unit 1012 Detroit, MI	2.0	2.0	1100	$3,500	$3.18	45d	1	0.99mi
7430 2nd Ave Unit 0208 Detroit, MI	1.0	1.0	859	$1,635	$1.90	45d	1	0.99mi
7430 2nd Ave Unit 1001 Detroit, MI	1.0	1.0	1011	$3,750	$3.71	45d	1	0.99mi
7430 2nd Ave Unit 0312 Detroit, MI	2.0	2.0	877	$2,150	$2.45	45d	1	0.99mi
3075 W Grand Blvd Detroit, MI	1.0	1.0	700	$1,475	$2.11	21d	1	0.99mi
700 Seward Ave Detroit, MI	2.0	1.0	988	$1,845	$1.87	3d	2	1.00mi
675 Seward Ave Detroit, MI	1.0	1.0	650	$889	$1.37	45d	8	1.01mi
75 W Palmer Ave Detroit, MI	2.0	1.0	488	$1,025	$2.10	3d	7	1.02mi
2531 Pingree St Unit 2 (FL 2) Detroit, MI	3.0	1.0	893	$1,100	$1.23	3d	1	1.03mi
3737 Scovel Pl Apt 2 Detroit, MI	1.0	1.0	650	$750	$1.15	45d	1	1.03mi
51 W Palmer Ave Detroit, MI	1.0	1.0	470	$1,395	$2.97	21d	3	1.04mi

Listing history 15 events

1. 2026-06-21
   days on market $35,000 Active 443 DOM
2. 2026-06-18
   days on market $35,000 Active 440 DOM
3. 2026-06-17
   days on market $35,000 Active 439 DOM
4. 2026-06-15
   days on market $35,000 Active 437 DOM
5. 2026-06-13
   days on market $35,000 Active 435 DOM
6. 2026-06-13
   days on market $35,000 Active 434 DOM
7. 2026-06-09
   days on market $35,000 Active 431 DOM
8. 2026-06-08
   days on market $35,000 Active 430 DOM
9. 2026-06-07
   days on market $35,000 Active 429 DOM
10. 2026-06-04
    days on market $35,000 Active 426 DOM
11. 2026-06-03
    days on market $35,000 Active 425 DOM
12. 2026-06-01
    days on market $35,000 Active 423 DOM
13. 2026-05-31
    days on market $35,000 Active 422 DOM
14. 2025-04-04
    listed $35,000 Active 1055-char remark

    Show marketing remark (1055 chars)

    Attention Investors, you don't want to miss this opportunity located near Wayne State University, New Center Area, and so much more. Sale includes adjacent vacant lot 6044 Vermont. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal ( not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. 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 abatements and lot combinations 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 abatements on the purchase and development financing.

15. 2025-04-04
    listed $35,000 Active 1055-char remark

    Show marketing remark (1055 chars)

    Attention Investors, you don't want to miss this opportunity located near Wayne State University, New Center Area, and so much more. Sale includes adjacent vacant lot 6044 Vermont. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal ( not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. 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 abatements and lot combinations 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 abatements on the purchase and development financing.

ⓘ 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: $1,027 · $86/mo
• Projected year-2 tax: $1,027 · $86/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 ≥96°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: $18,036
• − Mortgage interest: −$1,961
• − Property taxes: −$1,027
• − Insurance: −$175
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$1,018
• Taxable income: $10,969
• Est. tax owed @ 24.0%: −$2,633
• After-tax cash flow: $8,211/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

+0.0% since first listed

2 events — show timeline

• 2025-04-04 Listed $35,000 REALCOMP
• 2025-04-04 Listed $35,000 MiRealSource-MiMLS

Property tax history

+7.7%/yr

Latest (2025): $1,027 · +0.0% YoY. Source: county tax records.