4885 Bedford St · Detroit, MI 48224

$75,000

4 bd · 2.0 ba · 2,184 sqft · Townhouse public records · 61 Days on market

Built 1928 4,792 sqft lot $34/sqft · 27% below area Est $103k · 27% 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 +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid 2-unit brick duplex built in 1928 featuring over 2,100 square feet with a full basement. One unit offers 3 bedrooms and 1 bath, while the second unit includes 2 bedrooms and 1 bath, ideal for house hacking or adding to your rental portfolio. Major capital improvements have already been completed, including new plumbing, new electrical, and a brand new roof, significantly reducing upfront rehab costs and providing peace of mind for the next owner. Located south of Moross and east of Chandler Park in a strong rental corridor of Detroit's 48224 zip code. Separate units offer excellent income potential in a high-demand area. Great opportunity for investors looking for a value-add asset with big-ticket items already handled. Sale is subject to purchaser vetting and release from Detroit Land Bank.

Key facts

• New plumbing
• High demand area
• Full basement

Tags

• FULL BASEMENT
• NEW PLUMBING
• NEW ELECTRICAL
• NEW ROOF
• STRONG RENTAL CORRIDOR
• HIGH DEMAND AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% 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 flat; 484 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 40% of the median local income ($45k/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 $519 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 + 0.7% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y 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.
• Current owner paid $2k; list at $75k implies a 3650% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.00% ✓
• Cap rate: 17.00%
• Cash-on-cash: 38.24%
• DSCR: 2.70
• GRM: 4.2

CMA / ARV

• ARV (median comp): $102,772
• List price: $75,000
• Delta: -27.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 31.7%
• Equity multiple: 2.29×
• Total profit: $27,134
• Equity at exit: $11,183

10-year hold

• IRR: 37.6%
• Equity multiple: 4.12×
• Total profit: $65,438
• Equity at exit: $6,485

Cash invested: $21,000 (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 48224

• Rents YoY: 0.7%
• Active inventory: 484
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $669

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 50%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	0.28mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	0.28mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	0.41mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	0.66mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	0.95mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	1d	1	0.98mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	43d	1	1.01mi
10030 Bishop St Detroit, MI	5.0	2.0	1721	$1,200	$0.70	17d	1	1.17mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.21mi
5944 Marseilles St Detroit, MI	3.0	1.0	1910	$1,300	$0.68	17d	1	1.32mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	1.37mi

Listing history 26 events

1. 2026-06-18
   days on market $75,000 Active 61 DOM
2. 2026-06-17
   days on market $75,000 Active 60 DOM
3. 2026-06-15
   days on market $75,000 Active 58 DOM
4. 2026-06-13
   days on market $75,000 Active 56 DOM
5. 2026-06-13
   days on market $75,000 Active 55 DOM
6. 2026-06-09
   days on market $75,000 Active 52 DOM
7. 2026-06-08
   days on market $75,000 Active 51 DOM
8. 2026-06-07
   days on market $75,000 Active 50 DOM
9. 2026-06-04
   days on market $75,000 Active 47 DOM
10. 2026-06-03
    days on market $75,000 Active 46 DOM
11. 2026-06-02
    days on market $75,000 Active 45 DOM
12. 2026-06-01
    days on market $75,000 Active 44 DOM
13. 2026-05-31
    days on market $75,000 Active 43 DOM
14. 2026-04-28
    status Active 808-char remark

    Show marketing remark (808 chars)

    Solid 2-unit brick duplex built in 1928 featuring over 2,100 square feet with a full basement. One unit offers 3 bedrooms and 1 bath, while the second unit includes 2 bedrooms and 1 bath, ideal for house hacking or adding to your rental portfolio. Major capital improvements have already been completed, including new plumbing, new electrical, and a brand new roof, significantly reducing upfront rehab costs and providing peace of mind for the next owner. Located south of Moross and east of Chandler Park in a strong rental corridor of Detroit's 48224 zip code. Separate units offer excellent income potential in a high-demand area. Great opportunity for investors looking for a value-add asset with big-ticket items already handled. Sale is subject to purchaser vetting and release from Detroit Land Bank.

15. 2026-04-28
    status Active 808-char remark

    Show marketing remark (808 chars)

    Solid 2-unit brick duplex built in 1928 featuring over 2,100 square feet with a full basement. One unit offers 3 bedrooms and 1 bath, while the second unit includes 2 bedrooms and 1 bath, ideal for house hacking or adding to your rental portfolio. Major capital improvements have already been completed, including new plumbing, new electrical, and a brand new roof, significantly reducing upfront rehab costs and providing peace of mind for the next owner. Located south of Moross and east of Chandler Park in a strong rental corridor of Detroit's 48224 zip code. Separate units offer excellent income potential in a high-demand area. Great opportunity for investors looking for a value-add asset with big-ticket items already handled. Sale is subject to purchaser vetting and release from Detroit Land Bank.

16. 2026-03-09
    status Pending 808-char remark

    Show marketing remark (808 chars)

    Solid 2-unit brick duplex built in 1928 featuring over 2,100 square feet with a full basement. One unit offers 3 bedrooms and 1 bath, while the second unit includes 2 bedrooms and 1 bath, ideal for house hacking or adding to your rental portfolio. Major capital improvements have already been completed, including new plumbing, new electrical, and a brand new roof, significantly reducing upfront rehab costs and providing peace of mind for the next owner. Located south of Moross and east of Chandler Park in a strong rental corridor of Detroit's 48224 zip code. Separate units offer excellent income potential in a high-demand area. Great opportunity for investors looking for a value-add asset with big-ticket items already handled. Sale is subject to purchaser vetting and release from Detroit Land Bank.

17. 2026-03-09
    status Pending 808-char remark

    Show marketing remark (808 chars)

    Solid 2-unit brick duplex built in 1928 featuring over 2,100 square feet with a full basement. One unit offers 3 bedrooms and 1 bath, while the second unit includes 2 bedrooms and 1 bath, ideal for house hacking or adding to your rental portfolio. Major capital improvements have already been completed, including new plumbing, new electrical, and a brand new roof, significantly reducing upfront rehab costs and providing peace of mind for the next owner. Located south of Moross and east of Chandler Park in a strong rental corridor of Detroit's 48224 zip code. Separate units offer excellent income potential in a high-demand area. Great opportunity for investors looking for a value-add asset with big-ticket items already handled. Sale is subject to purchaser vetting and release from Detroit Land Bank.

18. 2026-02-27
    listed $75,000 Active 808-char remark

    Show marketing remark (808 chars)

    Solid 2-unit brick duplex built in 1928 featuring over 2,100 square feet with a full basement. One unit offers 3 bedrooms and 1 bath, while the second unit includes 2 bedrooms and 1 bath, ideal for house hacking or adding to your rental portfolio. Major capital improvements have already been completed, including new plumbing, new electrical, and a brand new roof, significantly reducing upfront rehab costs and providing peace of mind for the next owner. Located south of Moross and east of Chandler Park in a strong rental corridor of Detroit's 48224 zip code. Separate units offer excellent income potential in a high-demand area. Great opportunity for investors looking for a value-add asset with big-ticket items already handled. Sale is subject to purchaser vetting and release from Detroit Land Bank.

19. 2026-02-27
    listed $75,000 Active 808-char remark

    Show marketing remark (808 chars)

    Solid 2-unit brick duplex built in 1928 featuring over 2,100 square feet with a full basement. One unit offers 3 bedrooms and 1 bath, while the second unit includes 2 bedrooms and 1 bath, ideal for house hacking or adding to your rental portfolio. Major capital improvements have already been completed, including new plumbing, new electrical, and a brand new roof, significantly reducing upfront rehab costs and providing peace of mind for the next owner. Located south of Moross and east of Chandler Park in a strong rental corridor of Detroit's 48224 zip code. Separate units offer excellent income potential in a high-demand area. Great opportunity for investors looking for a value-add asset with big-ticket items already handled. Sale is subject to purchaser vetting and release from Detroit Land Bank.

20. 2012-03-06
    soldstatus $2,000
21. 2012-02-21
    historical
22. 2012-02-18
    historical
23. 2011-11-09
    listed $4,900
24. 2011-11-09
    listed $4,900
25. 2011-07-06
    historical
26. 2011-04-20
    listed $9,900

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,038
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$2,182
• Taxable income: $7,269
• Est. tax owed @ 24.0%: −$1,745
• After-tax cash flow: $6,286/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): 39,668
• Household income: $44,856
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 2515.0

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 (88%)
• Race & ethnicity: Black 88% White 8% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -226.38%
• Current HPI: 161.886
• Rent YoY: ▲ 0.73%
• 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

+657.6% since first listed

13 events — show timeline

• 2026-04-28 Relisted — MiRealSource-MiMLS
• 2026-04-28 Relisted — REALCOMP
• 2026-03-09 Pending — MiRealSource-MiMLS
• 2026-03-09 Pending — REALCOMP
• 2026-02-27 Listed $75,000 REALCOMP
• 2026-02-27 Listed $75,000 MiRealSource-MiMLS
• 2012-03-06 Sold (MLS) $2,000 MiRealSource-MiMLS
• 2012-02-21 Listing Removed — MiRealSource-MiMLS
• 2012-02-18 Listing Removed — MiRealSource-MiMLS
• 2011-11-09 Listed $4,900 MiRealSource-MiMLS
• 2011-11-09 Listed $4,900 MiRealSource-MiMLS
• 2011-07-06 Listing Removed — MiRealSource-MiMLS
• 2011-04-20 Listed $9,900 MiRealSource-MiMLS

Property tax history

-23.5%/yr

Latest (2025): $125 · +183.4% YoY. Source: county tax records.