6120 Ironwood St · Detroit, MI 48210

$98,000

3 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 42 Days on market

Built 1916 3,049 sqft lot $82/sqft · 165% above area

---

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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors, don't miss this excellent investment opportunity!! This beautiful Southwest Detroit property is ideal for investors to expand their portfolio or first-time home buyers. Conveniently located with easy access from McGraw Ave and Tireman Ave. Tenant is paying $1,100 a month, MTM lease, very well maintained. Schedule your showing today!!! PLEASE DO NOT DISTURB TENANTS. B. A. T. V. A. I. All measurements are estimated.

Key facts

• 3,049 sq ft lot
• Built 1916
• Listed 42 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Water available; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Vinyl siding exterior; Brick/mortar foundation
• Exterior features: Paved road access; Lot roughly 30 x 105 (0.07 acres)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $95k (3.0% 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: 94 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k 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 42 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.45%
• DSCR: 1.38
• GRM: 7.3

CMA / ARV

• ARV (median comp): $36,965
• List price: $98,000
• Delta: 165.11%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6014 Beechwood St	0.14mi	3/1.0	1,201 (+1%)	7mo	$31,200	$26	85
5362 Allendale St	0.40mi	3/1.0	1,200 (+1%)	2mo	$70,000	$58	78
5772 Woodrow St	0.24mi	4/1.5 (+1)	1,200 (+1%)	10mo	$149,000	$124	72
6052 Hartford St	0.41mi	3/1.0	1,144 (-4%)	8mo	$110,000	$96	68
6419 Roosevelt St	0.73mi	3/1.0	1,143 (-4%)	1mo	$15,000	$13	59
5327 Vancouver St	0.56mi	3/1.0	1,274 (+7%)	5mo	$40,000	$31	58
4288 Larchmont St	0.57mi	3/1.5	1,248 (+5%)	10mo	$55,000	$44	55
6410 Scotten St	0.48mi	3/1.0	1,354 (+14%)	3mo	$47,000	$35	52
5524 Seebaldt St	0.37mi	4/2.5 (+1)	1,323 (+11%)	5mo	$144,000	$109	49
5357 Spokane Ave	0.68mi	3/1.5	1,288 (+8%)	6mo	$47,997	$37	47
4947 28th St	0.75mi	3/1.5	1,278 (+8%)	12mo	$170,000	$133	41
5297 Vancouver St	0.56mi	4/1.5 (+1)	1,363 (+15%)	4mo	$60,000	$44	39

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: -3.4%
• Equity multiple: 0.87×
• Total profit: $-3,553
• Equity at exit: $14,612

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $12,842
• Equity at exit: $8,473

Cash invested: $27,440 (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 48210

• Home prices YoY: -22.3%
• Active inventory: 94
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,114 high
• Mortgage (P&I): −$514
• Tax from tax record: −$132 /mo · $1,582/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $193

Break-even live

Break-even rent $869

Max offer price $98,000

Occupancy floor 78%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5440 Milford St Unit 1 Detroit, MI	2.0	1.0	850	$1,150	$1.35	43d	1	0.13mi
6307 Woodrow St Detroit, MI	2.0	1.0	1000	$750	$0.75	43d	1	0.17mi
4426 McGraw Ave Unit 1 Detroit, MI	3.0	1.0	1400	$1,200	$0.86	43d	1	0.37mi
5398 Allendale St Detroit, MI	2.0	1.0	1100	$1,200	$1.09	24d	1	0.43mi
4566 Seebaldt St Detroit, MI	2.0	1.0	1200	$1,250	$1.04	22d	1	0.48mi
5101 Oregon St Detroit, MI	2.0	1.0	1000	$1,049	$1.05	43d	1	0.52mi
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	24d	1	0.67mi
1565 W Grand Blvd Unit 1 Detroit, MI	2.0	1.0	910	$700	$0.77	22d	1	0.67mi
1493 W Grand Blvd Detroit, MI	2.0	1.0	1250	$1,145	$0.92	43d	1	0.78mi
4016 Hogarth St Unit 4018 Hogarth Lower Detroit, MI	2.0	1.0	1200	$1,100	$0.92	3d	1	0.79mi
4915 Maplewood St Detroit, MI	3.0	1.0	1324	$1,100	$0.83	16d	1	0.81mi
4345 W Euclid St Unit 1 Detroit, MI	3.0	1.0	1300	$1,400	$1.08	24d	1	0.89mi
4345 W Euclid St Unit 2 Detroit, MI	3.0	1.0	1300	$1,450	$1.12	24d	1	0.89mi
8762 Epworth St Unit 8768 Detroit, MI	2.0	1.0	900	$1,000	$1.11	24d	1	1.04mi
7424 Wykes St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	43d	1	1.06mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	16d	1	1.17mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	24d	1	1.22mi
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	16d	1	1.22mi
4031 Wesson St Apt 109 Detroit, MI	2.0	1.0	1000	$1,190	$1.19	43d	1	1.23mi
6077 Linwood St Detroit, MI	2.0	1.0	1200	$2,000	$1.67	43d	1	1.34mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	43d	1	1.42mi
8353 Alpine St Detroit, MI	2.0	1.0	1000	$1,050	$1.05	43d	1	1.45mi
3759 Atkinson St Unit 2 Detroit, MI	2.0	1.0	919	$1,200	$1.31	24d	1	1.46mi
9376 Otsego St Detroit, MI	3.0	1.0	873	$1,396	$1.60	43d	1	1.49mi
6144 16th St Detroit, MI	3.0	1.0	1284	$1,200	$0.93	43d	1	1.49mi

Listing history 32 events

1. 2026-06-18
   days on market $98,000 Active 42 DOM
2. 2026-06-17
   days on market $98,000 Active 41 DOM
3. 2026-06-15
   days on market $98,000 Active 39 DOM
4. 2026-06-13
   days on market $98,000 Active 37 DOM
5. 2026-06-13
   days on market $98,000 Active 36 DOM
6. 2026-06-09
   days on market $98,000 Active 33 DOM
7. 2026-06-08
   days on market $98,000 Active 32 DOM
8. 2026-06-07
   days on market $98,000 Active 31 DOM
9. 2026-06-04
   days on market $98,000 Active 28 DOM
10. 2026-06-03
    days on market $98,000 Active 27 DOM
11. 2026-06-02
    days on market $98,000 Active 26 DOM
12. 2026-06-01
    days on market $98,000 Active 25 DOM
13. 2026-05-31
    days on market $98,000 Active 24 DOM
14. 2026-05-07
    listed $98,000 Active 438-char remark

    Show marketing remark (438 chars)

    Attention investors, don't miss this excellent investment opportunity!! This beautiful Southwest Detroit property is ideal for investors to expand their portfolio or first-time home buyers. Conveniently located with easy access from McGraw Ave and Tireman Ave. Tenant is paying $1,100 a month, MTM lease, very well maintained. Schedule your showing today!!! PLEASE DO NOT DISTURB TENANTS. B. A. T. V. A. I. All measurements are estimated.

15. 2026-05-07
    listed $98,000 Active 438-char remark

    Show marketing remark (438 chars)

    Attention investors, don't miss this excellent investment opportunity!! This beautiful Southwest Detroit property is ideal for investors to expand their portfolio or first-time home buyers. Conveniently located with easy access from McGraw Ave and Tireman Ave. Tenant is paying $1,100 a month, MTM lease, very well maintained. Schedule your showing today!!! PLEASE DO NOT DISTURB TENANTS. B. A. T. V. A. I. All measurements are estimated.

16. 2025-11-06
    historical
17. 2025-11-06
    historical
18. 2025-08-21
    listed $105,000 Active
19. 2025-08-21
    listed $105,000 Active
20. 2021-11-19
    soldstatus $94,000
21. 2021-09-30
    soldstatus $38,000 Sold
22. 2021-09-30
    soldstatus $38,000 Closed
23. 2021-09-25
    status Pending
24. 2021-09-25
    status Pending
25. 2021-09-16
    price $45,000
26. 2021-09-16
    price $45,000
27. 2021-09-14
    price $55,000
28. 2021-09-14
    price $55,000
29. 2021-09-14
    status Active
30. 2021-09-14
    historical
31. 2021-09-10
    listed $65,000 Active
32. 2021-09-10
    listed $65,000 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: $1,582 · $132/mo
• Projected year-2 tax: $1,582 · $132/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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,364
• − Mortgage interest: −$5,490
• − Property taxes: −$1,582
• − Insurance: −$490
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$2,851
• Taxable income: $813
• Est. tax owed @ 24.0%: −$195
• After-tax cash flow: $2,123/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
• City population: 572,865
• Population (ZIP): 26,925

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 59% White 20% Black 17% Two or more races 16% Native American 1%
• Hispanic origin (detail): Mexican 44% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 2% Danish 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 50% Arabic 10%

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: ▼ -85.82%
• Current HPI: 299.5909
• Rent YoY: —
• Metro: —
• 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

+50.8% since first listed

19 events — show timeline

• 2026-05-07 Listed $98,000 REALCOMP
• 2026-05-07 Listed $98,000 MiRealSource-MiMLS
• 2025-11-06 Listing Removed — MiRealSource-MiMLS
• 2025-11-06 Listing Removed — REALCOMP
• 2025-08-21 Listed $105,000 REALCOMP
• 2025-08-21 Listed $105,000 MiRealSource-MiMLS
• 2021-11-19 Sold (Public Records) $94,000 Public Records
• 2021-09-30 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2021-09-30 Sold (MLS) $38,000 REALCOMP
• 2021-09-25 Pending — REALCOMP
• 2021-09-25 Pending — MiRealSource-MiMLS
• 2021-09-16 Price Changed $45,000 MiRealSource-MiMLS
• 2021-09-16 Price Changed $45,000 REALCOMP
• 2021-09-14 Price Changed $55,000 MiRealSource-MiMLS
• 2021-09-14 Price Changed $55,000 REALCOMP
• 2021-09-14 Relisted — REALCOMP
• 2021-09-14 Listing Removed — REALCOMP
• 2021-09-10 Listed $65,000 MiRealSource-MiMLS
• 2021-09-10 Listed $65,000 REALCOMP

Property tax history

+6.4%/yr

Latest (2025): $1,582 · +102.4% YoY. Source: county tax records.