2301 Fullerton St · Detroit, MI 48238

$44,900

3 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 78 Days on market

Built 1917 3,485 sqft lot $41/sqft · 56% above area ↓ 24% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3 Bedroom 1 bath home ready for your vision! This home is located just minutes from Detroits beautiful Boston Edison District. Many rehabs and development in the area, now is the perfect time to invest in this rapidly growing neighborhood.

Key facts

• 3,485 sq ft lot
• Built 1917
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.7% 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: Rents rising fast (+6.1%/yr); 348 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); 40% 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).
• This rent runs 45% of the median local income ($33k/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 $310 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 + 6.1% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($42k) 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 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1917 — 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: 2.76% ✓
• Cap rate: 23.73%
• Cash-on-cash: 62.27%
• DSCR: 3.77
• GRM: 3.0

CMA / ARV

• ARV (median comp): $28,713
• List price: $44,900
• Delta: 56.38%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2474 Sturtevant St	0.16mi	3/1.0	1,092 (-0%)	4mo	$28,000	$26	88
2268 Highland St	0.09mi	3/1.0	1,163 (+6%)	0mo	$10,000	$9	86
2509 Richton St	0.29mi	3/1.0	1,114 (+2%)	2mo	$15,000	$13	83
2420 Monterey St	0.27mi	3/1.0	1,080 (-2%)	14mo	$48,000	$44	74
2401 Cortland St	0.19mi	3/1.0	1,176 (+7%)	15mo	$18,000	$15	67
2291 Tuxedo St	0.39mi	3/1.5	1,197 (+9%)	4mo	$35,000	$29	62
2505 La Belle St	0.65mi	3/1.0	1,027 (-6%)	2mo	$25,000	$24	57
371 Highland St	0.54mi	4/1.0 (+1)	1,128 (+3%)	14mo	$55,000	$49	54
1689 Tyler St	0.36mi	3/1.5	1,260 (+15%)	6mo	$77,300	$61	51
1721 W Buena Vista St	0.30mi	3/1.0	1,217 (+11%)	22mo	$22,000	$18	50
1700 Waverly St	0.41mi	3/2.0	1,181 (+8%)	22mo	$20,000	$17	46

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 64.8%
• Equity multiple: 4.05×
• Total profit: $38,341
• Equity at exit: $6,695

10-year hold

• IRR: 70.2%
• Equity multiple: 9.33×
• Total profit: $104,670
• Equity at exit: $3,882

Cash invested: $12,572 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 348
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,238 high
• Mortgage (P&I): −$235
• Tax from tax record: −$72 /mo · $859/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $652

Break-even live

Break-even rent $412

Max offer price $44,900

Occupancy floor 42%

Sensitivity live

Price	-10% $678	-5% $665	+0% $652	+5% $640	+10% $627
Rent	-10% $555	-5% $604	+0% $652	+5% $701	+10% $750
Rate	-1.0pp $675	-0.5pp $664	base $652	+0.5pp $641	+1.0pp $629

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	18d	1	0.15mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	0.16mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.35mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	25d	1	0.36mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	25d	1	0.39mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	6d	1	0.49mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	21d	1	0.49mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	12d	1	0.50mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	45d	1	0.55mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	3d	1	0.61mi
3224 Monterey St Unit 2E Detroit, MI	2.0	1.0	1200	$1,350	$1.12	45d	1	0.65mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	45d	1	0.69mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	16d	1	0.71mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	45d	1	0.75mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	45d	1	0.79mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	18d	1	0.82mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	13d	1	0.86mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	6d	1	0.87mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	25d	1	0.88mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	45d	1	0.88mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	45d	1	0.89mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	13d	1	0.89mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	45d	1	0.90mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	25d	1	0.92mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	6d	1	0.95mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	18d	1	0.95mi
1251 Glynn Ct Detroit, MI	2.0	1.0	705	$1,288	$1.83	3d	2	0.96mi
127 W Buena Vista St Unit 129 Highland Park, MI	2.0	1.0	800	$1,000	$1.25	45d	1	1.02mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	18d	1	1.03mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	25d	1	1.05mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	45d	1	1.05mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	45d	1	1.07mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	5d	1	1.08mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	45d	1	1.08mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	1.11mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	11d	1	1.13mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	45d	1	1.20mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	18d	1	1.20mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	5d	1	1.22mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	45d	1	1.22mi

Listing history 22 events

1. 2026-06-21
   days on market $44,900 Active 78 DOM
2. 2026-06-18
   days on market $44,900 Active 75 DOM
3. 2026-06-17
   days on market $44,900 Active 74 DOM
4. 2026-06-15
   days on market $44,900 Active 72 DOM
5. 2026-06-13
   days on market $44,900 Active 70 DOM
6. 2026-06-13
   days on market $44,900 Active 69 DOM
7. 2026-06-09
   days on market $44,900 Active 66 DOM
8. 2026-06-08
   days on market $44,900 Active 65 DOM
9. 2026-06-07
   days on market $44,900 Active 64 DOM
10. 2026-06-04
    days on market $44,900 Active 61 DOM
11. 2026-06-03
    days on market $44,900 Active 60 DOM
12. 2026-06-02
    days on market $44,900 Active 59 DOM
13. 2026-06-01
    days on market $44,900 Active 58 DOM
14. 2026-05-31
    days on market $44,900 Active 57 DOM
15. 2026-04-05
    listed $44,900 Active 248-char remark

    Show marketing remark (248 chars)

    Spacious 3 Bedroom 1 bath home ready for your vision! This home is located just minutes from Detroits beautiful Boston Edison District. Many rehabs and development in the area, now is the perfect time to invest in this rapidly growing neighborhood.

16. 2026-04-04
    listed $44,900 Active 248-char remark

    Show marketing remark (248 chars)

    Spacious 3 Bedroom 1 bath home ready for your vision! This home is located just minutes from Detroits beautiful Boston Edison District. Many rehabs and development in the area, now is the perfect time to invest in this rapidly growing neighborhood.

17. 2026-03-03
    historical
18. 2026-03-03
    historical
19. 2026-02-12
    price $50,000
20. 2026-02-11
    price $50,000
21. 2026-01-26
    listed $59,000 Active
22. 2026-01-26
    listed $59,000 Active

ⓘ 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: $859 · $72/mo
• Projected year-2 tax: $859 · $72/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 ≥97°F today · 14 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: $14,859
• − Mortgage interest: −$2,515
• − Property taxes: −$859
• − Insurance: −$224
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$1,306
• Taxable income: $7,576
• Est. tax owed @ 24.0%: −$1,818
• After-tax cash flow: $6,011/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-23.9% since first listed

8 events — show timeline

• 2026-04-05 Listed $44,900 REALCOMP
• 2026-04-04 Listed $44,900 MiRealSource-MiMLS
• 2026-03-03 Listing Removed — REALCOMP
• 2026-03-03 Listing Removed — MiRealSource-MiMLS
• 2026-02-12 Price Changed $50,000 MiRealSource-MiMLS
• 2026-02-11 Price Changed $50,000 REALCOMP
• 2026-01-26 Listed $59,000 REALCOMP
• 2026-01-26 Listed $59,000 MiRealSource-MiMLS

Property tax history

-2.1%/yr

Latest (2025): $859 · -54.8% YoY. Source: county tax records.