1409 Baldwin St · Detroit, MI 48214

$375,000

4 bd · 2.5 ba · 2,212 sqft · MultiFamily public records · 24 Days on market

Built 1912 3,049 sqft lot Est $285k · 31% over

---

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 +16.6/30.0
• DSCR +5.1/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• 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 MLS

Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

Key facts

• 3,049 sq ft lot
• Built 1912
• Listed 24 days

Property features AI

Finance

• Financial info: Two-unit property; Net operating income reported at $27,531; Total expenses reported at $11,469; Leased units with water included in lease
• HOA & community: Laundry facility listed as a community amenity

Exterior

• Utilities: Public water
• Home design: Duplex multi-family property; Built in 1912; Located in a city neighborhood (Detroit)
• Construction: Basement foundation
• Exterior features: Brick exterior; Paved street frontage; Frontage approximately 60 feet; Residential zoning

Interior

• Bathrooms: Four bathrooms
• Heating & cooling: Central A/C; Forced air heating; Natural gas fuel
• Interior features: Has 4 total bathrooms
• Laundry & utility: On-site laundry facility

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive. Per door: $112/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $327k (12.7% below list).
• Recommended offer: $327k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 298 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $3,272/mo this rent would consume 117% of the median local household income ($34k/yr) (locally 1364% 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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $327,200 (12.7% below list)

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 1912 — 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. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $285,348
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7915 E Vernor Hwy	0.45mi	4/2.0	2,208 (-0%)	15mo	$390,000	$177	64
2242 Concord St	0.58mi	5/3.0 (+1)	2,176 (-2%)	12mo	$280,000	$129	53
2568 Canton St	0.69mi	4/2.0	2,036 (-8%)	11mo	$199,900	$98	43
2179 Sheridan St	0.35mi	4/2.0	2,508 (+13%)	21mo	$355,000	$142	42
2465 Concord St	0.66mi	5/2.0 (+1)	2,514 (+14%)	5mo	$195,000	$78	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.56×
• Total profit: $-46,627
• Equity at exit: $55,914

10-year hold

• IRR: -3.2%
• Equity multiple: 0.78×
• Total profit: $-22,651
• Equity at exit: $32,423

Cash invested: $105,000 (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 48214

• Active inventory: 298
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $3,272 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$239 /mo · $2,864/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $223

Break-even live

Break-even rent $2,989

Max offer price $375,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,272
Total (2 units)			$3,272

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1738 Canton St Unit 1 Detroit, MI	4.0	1.0	2244	$1,650	$0.74	43d	1	0.38mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	19d	20	0.46mi
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	43d	1	1.01mi
1348 Village Dr Detroit, MI	3.0	2.5	2100	$2,295	$1.09	24d	1	1.07mi

Listing history 23 events

1. 2026-06-18
   days on market $375,000 Active 24 DOM
2. 2026-06-17
   pricedays on market $375,000 Active 23 DOM
3. 2026-06-15
   days on market $399,000 Active 21 DOM
4. 2026-06-13
   days on market $399,000 Active 19 DOM
5. 2026-06-13
   days on market $399,000 Active 18 DOM
6. 2026-06-09
   days on market $399,000 Active 15 DOM
7. 2026-06-08
   days on market $399,000 Active 14 DOM
8. 2026-06-07
   days on market $399,000 Active 13 DOM
9. 2026-06-04
   days on market $399,000 Active 10 DOM
10. 2026-06-03
    days on market $399,000 Active 9 DOM
11. 2026-06-02
    days on market $399,000 Active 8 DOM
12. 2026-06-01
    days on market $399,000 Active 7 DOM
13. 2026-05-31
    days on market $399,000 Active 6 DOM
14. 2026-05-20
    historical $399,000
15. 2021-07-19
    soldstatus $378,000
16. 2021-07-06
    soldstatus $378,000 Sold 989-char remark

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

17. 2021-07-06
    soldstatus $378,000 Closed

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

18. 2021-06-08
    status Pending

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

19. 2021-06-08
    status Pending 989-char remark

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

20. 2021-05-28
    listed $395,000 Active

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

21. 2021-05-28
    listed $395,000 Active 989-char remark

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

22. 2021-05-26
    historical $395,000

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

23. 2021-05-26
    historical $395,000 989-char remark

    Show marketing remark (989 chars)

    Nestled on the edge of West Village is this large, beautiful two family, urban oasis. Decked with rich hardwood floors, each unit has three bedrooms and two full tiled bathrooms. The living spaces are open concept with living rooms, dining rooms and kitchens. Taken down to the studs in 2015, all systems are completely updated including, electrical, hvac, plumbing, and a new roof. The basement areas are private per unit with their own appliances. Being on a double corner lot with a privacy fence, there is plenty of room for entertaining family, friends and pets. Enjoy the quaint back deck area in the evening with a cool beverage or soak in the hot tub. Back of property is lined with a shipping container for outdoor storage and an attached carport for off street parking. The separate units offer families a great opportunity for rental income or an investor to add a stylish income producing property to their portfolio. Tenant occupied through Aug. 24 hr notice for all showings.

ⓘ 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: $2,864 · $239/mo
• Projected year-2 tax: $4,319 · $360/mo
• Expected delta: +$1,456/yr (+$121/mo · 50.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 48% 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,264
• − Mortgage interest: −$21,006
• − Property taxes: −$2,864
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,141
• − Management: −$3,141
• − Depreciation: −$10,909
• Taxable loss: −$3,672
• Est. tax savings @ 24.0%: +$881
• After-tax cash flow: $3,563/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 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: ▼ -367.43%
• Current HPI: 102.0969
• 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

+1.0% since first listed

10 events — show timeline

• 2026-05-20 Coming Soon $399,000 MiRealSource-MiMLS
• 2021-07-19 Sold (Public Records) $378,000 Public Records
• 2021-07-06 Sold (MLS) $378,000 MiRealSource-MiMLS
• 2021-07-06 Sold (MLS) $378,000 REALCOMP
• 2021-06-08 Pending — MiRealSource-MiMLS
• 2021-06-08 Pending — REALCOMP
• 2021-05-28 Listed $395,000 MiRealSource-MiMLS
• 2021-05-28 Listed $395,000 REALCOMP
• 2021-05-26 Coming Soon $395,000 MiRealSource-MiMLS
• 2021-05-26 Coming Soon $395,000 REALCOMP

Property tax history

+12.4%/yr

Latest (2025): $2,864 · -10.2% YoY. Source: county tax records.