4010 Lawrence St · Detroit, MI 48204

$24,999

3 bd · 1.0 ba · 792 sqft · SingleFamily public records · 1 Days on market

Built 1923 3,049 sqft lot Est $36k · 30% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 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

Listing remarks MLS

HANDYMAN SPECIAL & INVESTORS DREAM. GUTTERED TO THE STUDS WITH PLENTY OF WORKABLE SPACE AND NEW PLUMBING. A GREAT OPPORTUNITY FOR FIRST-TIME BUYERS OR INVESTORS. SCHEDULE YOUR SHOWING TODAY!!! ALL DATA & MEASUREMENTS ARE APPROXIMATE & NOT GUARANTEED. BUYER TO VERIFY ALL INFO & DATA. SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE DO NOT APPROACH THE HOME WITHOUT A CONFIRMED APPOINTMENT. PLEASE DO NOT DISCUSS OFFERS WITH THE SELLER. PLEASE CONTACT A LICENSEE AGENT OR LISTENING OFFICE TO SCHEDULE A SHOWING.

Key facts

• Workable space
• New plumbing
• 3,049 sq ft lot

Tags

• NEW PLUMBING
• WORKABLE SPACE

Property features AI

Finance

• Other: Property listed as residential; Location: Detroit (municipality: Detroit), Lewis & Crofoots Sub 3 subdivision

Exterior

• Utilities: Public water
• Home design: Residential single-story home; Built in 1923
• Construction: Basement foundation
• Exterior features: Aluminum exterior; Paved street access; 40' frontage

Interior

• Kitchen: Kitchen on the entry level (approx. 11 x 6)
• Bedrooms: Three bedrooms on the entry level (approx. 7 x 9, 7 x 9, and 9')
• Bathrooms: One full bathroom on the entry level
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 6 rooms; Unfinished basement
• Laundry & utility: Basement present (unfinished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $696 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 39.7% 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: 244 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 39% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($173 loan paydown + $2k 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,999

Questions for the listing agent

1. Built in 1923 — 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: 4.48% ✓
• Cap rate: 39.69%
• Cash-on-cash: 119.29%
• DSCR: 6.31
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $35,640
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9986 Quincy St	0.14mi	3/1.0	874 (+10%)	17mo	$20,000	$23	62
9744 Holmur St	0.30mi	3/1.0	850 (+7%)	14mo	$80,000	$94	62
9376 Otsego St	0.44mi	3/1.0	873 (+10%)	9mo	$39,500	$45	55
9926 Yosemite St	0.50mi	2/1.0 (-1)	787 (-1%)	20mo	$10,000	$13	54
9304 Otsego St	0.50mi	2/1.0 (-1)	875 (+10%)	5mo	$32,500	$37	50
9311 Yellowstone St	0.65mi	2/1.0 (-1)	859 (+8%)	7mo	$79,150	$92	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.28×
• Total profit: $57,959
• Equity at exit: $22,521

10-year hold

• IRR: —
• Equity multiple: 20.41×
• Total profit: $135,884
• Equity at exit: $48,568

Cash invested: $7,000 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,120 high
• Mortgage (P&I): −$131
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $696

Break-even live

Break-even rent $239

Max offer price $24,999

Occupancy floor 33%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	12d	1	0.36mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	43d	1	0.42mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	4d	1	0.42mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	0.46mi
9376 Otsego St Detroit, MI	3.0	1.0	873	$1,396	$1.60	43d	1	0.46mi
3759 Atkinson St Unit 2 Detroit, MI	2.0	1.0	919	$1,200	$1.31	24d	1	0.59mi
9789 Chenlot St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	4d	1	0.70mi
3242 Clairmount St Detroit, MI	2.0	1.0	530	$1,300	$2.45	43d	1	0.73mi
12019 Stoepel St Detroit, MI	2.0	1.0	1000	$943	$0.94	4d	1	0.74mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.74mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	4d	1	0.77mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	43d	1	0.78mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	24d	1	0.78mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	43d	1	0.79mi
9917 Woodside St Apt 1 Detroit, MI	2.0	1.0	800	$800	$1.00	43d	1	0.79mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	16d	1	0.81mi
12663 Stoepel St Unit 1 Detroit, MI	2.0	1.0	750	$975	$1.30	17d	1	0.83mi
12663 Stoepel St Detroit, MI	2.0	1.0	1100	$1,050	$0.95	21d	1	0.83mi
12415 Monica St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	43d	1	0.90mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	43d	1	0.95mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	0.95mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	16d	1	1.04mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	16d	1	1.04mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	24d	1	1.08mi
2531 Pingree St Unit 2 (FL 2) Detroit, MI	3.0	1.0	893	$1,100	$1.23	1d	1	1.21mi
2926 Ewald Cir Detroit, MI	2.0	1.0	800	$900	$1.12	17d	1	1.25mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	24d	1	1.26mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	1.26mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	4d	1	1.27mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	12d	1	1.29mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	10d	1	1.30mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	43d	1	1.33mi
2021 Blaine St Detroit, MI	1.0–2.0	1.0	684	$1,200	$1.75	43d	1	1.42mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	1.43mi

Listing history 7 events

1. 2026-06-19
   days on marketlisting id $24,999 Active 1 DOM
2. 2026-06-18
   days on market $24,999 Active 4 DOM
3. 2026-06-17
   days on market $24,999 Active 3 DOM
4. 2026-06-16
   days on market $24,999 Active 2 DOM
5. 2026-06-15
   listing id $24,999 Active 1 DOM
6. 2026-06-15
   remarks 511-char remark
7. 2026-06-15
   listed $24,999 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: $572 · $48/mo
• Projected year-2 tax: $572 · $48/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $13,443
• − Mortgage interest: −$1,400
• − Property taxes: −$572
• − Insurance: −$125
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$727
• Taxable income: $8,468
• Est. tax owed @ 24.0%: −$2,032
• After-tax cash flow: $6,318/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

-0.5% since first listed

12 events — show timeline

• 2026-06-13 Listed $24,999 REALCOMP
• 2026-06-13 Listed $24,999 MiRealSource-MiMLS
• 2003-08-15 Listing Removed — REALCOMP
• 2003-06-07 Listed $16,900 REALCOMP
• 2003-05-06 Listing Removed — REALCOMP
• 2003-04-14 Listed $27,590 REALCOMP
• 2003-01-30 Sold (Public Records) $70,000 Public Records
• 2001-09-14 Sold (Public Records) $7,000 Public Records
• 2001-04-17 Sold (MLS) $7,000 MiRealSource-MiMLS
• 2001-02-08 Listing Removed — MiRealSource-MiMLS
• 2001-01-15 Listed $9,900 MiRealSource-MiMLS
• 2000-05-25 Sold (Public Records) $25,115 Public Records

Property tax history

-3.4%/yr

Latest (2025): $572 · -49.7% YoY. Source: county tax records.