6324 Burlingame St · Detroit, MI 48204

$110,000

8 bd · 3.5 ba · 3,660 sqft · Townhouse public records · 20 Days on market

Built 1915 4,356 sqft lot $30/sqft · at area comps Est $110k · at est. ↓ 21% since listing

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Investor special multi-family opportunity at 6324 Burlingame in Detroit’s west side. This 4-unit building features all 2-bedroom, 1-bath units, offering strong rental potential and consistent cash flow upside. Property offers approximately 3,600+ square feet of living space with a solid brick structure and classic Detroit character. Oakman neighborhood location provides convenient access to major roads, shopping, and employment corridors, making it attractive for tenants. Perfect for investors looking to add to their portfolio or execute a value-add strategy. Buyer to verify all information. BATVAI.

Key facts

• 4,356 sq ft lot
• Built 1915
• Listed 20 days

Tags

• MULTI-FAMILY OPPORTUNITY
• STRONG RENTAL POTENTIAL
• SOLID BRICK STRUCTURE
• OAKMAN NEIGHBORHOOD LOCATION

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Brick construction
• Construction: Brick exterior; Brick/mortar foundation; 3,660 sq ft above-grade finished area
• Exterior features: Paved road access; Pets allowed

Interior

• Bedrooms: Four 2-bedroom units
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 8-bed/3.5-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

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: 248 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,589/mo this rent would consume 55% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($108k) 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 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 11.81%
• Cash-on-cash: 19.70%
• DSCR: 1.88
• GRM: 5.8

CMA / ARV

• ARV (median comp): $109,969
• List price: $110,000
• Delta: 27.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.0%
• Equity multiple: 3.99×
• Total profit: $92,125
• Equity at exit: $99,097

10-year hold

• IRR: 33.6%
• Equity multiple: 8.99×
• Total profit: $246,007
• Equity at exit: $213,706

Cash invested: $30,800 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 248
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,589 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$127 /mo · $1,524/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $506

Break-even live

Break-even rent $949

Max offer price $110,000

Occupancy floor 63%

Sensitivity live

Price	-10% $568	-5% $537	+0% $506	+5% $474	+10% $443
Rent	-10% $380	-5% $443	+0% $506	+5% $568	+10% $631
Rate	-1.0pp $561	-0.5pp $534	base $506	+0.5pp $477	+1.0pp $448

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $110,000 Active 20 DOM
2. 2026-06-17
   days on market $110,000 Active 19 DOM
3. 2026-06-15
   days on market $110,000 Active 17 DOM
4. 2026-06-13
   days on market $110,000 Active 15 DOM
5. 2026-06-13
   days on market $110,000 Active 14 DOM
6. 2026-06-09
   days on market $110,000 Active 11 DOM
7. 2026-06-08
   days on market $110,000 Active 10 DOM
8. 2026-06-07
   days on market $110,000 Active 9 DOM
9. 2026-06-04
   days on market $110,000 Active 6 DOM
10. 2026-06-03
    days on market $110,000 Active 5 DOM
11. 2026-06-02
    days on market $110,000 Active 4 DOM
12. 2026-06-01
    days on market $110,000 Active 3 DOM
13. 2026-05-31
    days on market $110,000 Active 2 DOM
14. 2026-04-16
    listed $140,000 Active 612-char remark
15. 2026-04-16
    listed $140,000 Active 606-char remark

ⓘ 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: $1,524 · $127/mo
• Projected year-2 tax: $1,609 · $134/mo
• Expected delta: +$85/yr (+$7/mo · 5.6%)

ⓘ 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: $19,067
• − Mortgage interest: −$6,162
• − Property taxes: −$1,524
• − Insurance: −$550
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$3,200
• Taxable income: $4,580
• Est. tax owed @ 24.0%: −$1,099
• After-tax cash flow: $4,967/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

-21.4% since first listed

7 events — show timeline

• 2026-06-18 Listing Removed — MiRealSource-MiMLS
• 2026-05-29 Listing Removed — REALCOMP
• 2026-05-29 Listing Removed — MiRealSource-MiMLS
• 2026-05-29 Listed $110,000 REALCOMP
• 2026-05-29 Listed $110,000 MiRealSource-MiMLS
• 2026-04-16 Listed $140,000 REALCOMP
• 2026-04-16 Listed $140,000 MiRealSource-MiMLS

Property tax history

+6.5%/yr

Latest (2025): $1,524 · +1.4% YoY. Source: county tax records.