670 Chalmers St · Detroit, MI 48215

$79,900

4 bd · 1.5 ba · 1,956 sqft · SingleFamily public records · 3 Days on market

Built 1916 5,663 sqft lot

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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
• 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

Investor-friendly opportunity in Detroit's desirable Jefferson Chalmers neighborhood! This spacious brick Colonial offers 4 bedrooms, 2 full baths, approximately 1,956 square feet, a full basement, and a detached 1.5-car garage. Ideal for renovation, rental income, fix-and-flip, or adding to an investment portfolio. Large room sizes and classic architectural details provide excellent value-add potential. Conveniently located near East Jefferson Avenue, shopping, dining, parks, and waterfront amenities. Property is being sold as-is. Cash offers preferred. Buyer and Buyer's Agent to verify all information

Key facts

• Full basement
• Detached garage
• 5,663 sq ft lot

Tags

• SPACIOUS BRICK COLONIAL
• FULL BASEMENT
• DETACHED GARAGE
• EXCELLENT VALUE-ADD POTENTIAL
• NEAR EAST JEFFERSON AVENUE

Property features AI

Finance

• Other: Property listed as residential single-family

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Public water; Sewer available
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick exterior; Subdivision: MARSHLAND BLVD SUB; Lot about 0.13 acres (40 x 140.02)
• Construction: Brick construction
• Exterior features: Paved road access; Asphalt roof

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement; Total of 8 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 15.2% 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: 137 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $552 of loan paydown is wiped out by about $2k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 4y 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: property tax is 2.8% of price; flood insurance adds $460/mo; built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.96% ✓
• Cap rate: 15.24%
• Cash-on-cash: 31.94%
• DSCR: 2.42
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $289,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
678 Lakewood St	0.07mi	3/2.5 (-1)	1,850 (-5%)	2mo	$273,000	$148	77
938 Lakepointe Street St	0.52mi	3/1.5 (-1)	1,925 (-2%)	0mo	$477,000	$248	68
458 Marlborough St	0.26mi	3/2.0 (-1)	1,800 (-8%)	6mo	$40,000	$22	63
294 Riverside Dr	0.59mi	5/2.5 (+1)	1,945 (-1%)	1mo	$235,000	$121	62
888 Marlborough St	0.23mi	5/2.5 (+1)	2,200 (+12%)	3mo	$175,000	$80	57
709 Lakepointe St	0.54mi	3/1.5 (-1)	1,837 (-6%)	7mo	$415,000	$226	54
883 Lakepointe St	0.46mi	3/1.5 (-1)	1,734 (-11%)	2mo	$475,000	$274	53
846 Lakepointe St	0.49mi	3/2.5 (-1)	1,826 (-7%)	6mo	$525,000	$288	52
561 Lakewood St	0.15mi	5/3.5 (+1)	2,230 (+14%)	5mo	$305,000	$137	52
243 Newport St	0.61mi	3/2.5 (-1)	2,160 (+10%)	2mo	$225,000	$104	43
1108 Wayburn St	0.67mi	3/2.0 (-1)	2,176 (+11%)	1mo	$340,000	$156	42
838 Algonquin St	0.67mi	3/2.5 (-1)	1,800 (-8%)	5mo	$265,000	$147	42

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-3,989
• Equity at exit: $11,913

10-year hold

• IRR: 5.4%
• Equity multiple: 1.41×
• Total profit: $9,065
• Equity at exit: $6,908

Cash invested: $22,372 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,566 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$189 /mo · $2,270/yr
• Insurance: −$33
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $135

Break-even live

Break-even rent $1,395

Max offer price $79,900

Occupancy floor 86%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	43d	1	0.26mi
371 Piper Blvd Detroit, MI	3.0	1.5	2340	$2,000	$0.85	43d	1	0.45mi
2174 Springle St Detroit, MI	3.0	1.0	2256	$1,150	$0.51	1d	1	0.98mi

Listing history 5 events

1. 2026-06-18
   days on market $79,900 Active 3 DOM
2. 2026-06-17
   remarks 684-char remark
3. 2026-06-17
   days on market $79,900 Active 2 DOM
4. 2026-06-15
   remarks 610-char remark

   Show marketing remark (610 chars)

   Investor-friendly opportunity in Detroit's desirable Jefferson Chalmers neighborhood! This spacious brick Colonial offers 4 bedrooms, 2 full baths, approximately 1,956 square feet, a full basement, and a detached 1.5-car garage. Ideal for renovation, rental income, fix-and-flip, or adding to an investment portfolio. Large room sizes and classic architectural details provide excellent value-add potential. Conveniently located near East Jefferson Avenue, shopping, dining, parks, and waterfront amenities. Property is being sold as-is. Cash offers preferred. Buyer and Buyer's Agent to verify all information

5. 2026-06-15
   listed $79,900 Active 1 DOM

   Show marketing remark (610 chars)

   Investor-friendly opportunity in Detroit's desirable Jefferson Chalmers neighborhood! This spacious brick Colonial offers 4 bedrooms, 2 full baths, approximately 1,956 square feet, a full basement, and a detached 1.5-car garage. Ideal for renovation, rental income, fix-and-flip, or adding to an investment portfolio. Large room sizes and classic architectural details provide excellent value-add potential. Conveniently located near East Jefferson Avenue, shopping, dining, parks, and waterfront amenities. Property is being sold as-is. Cash offers preferred. Buyer and Buyer's Agent to verify all information

ⓘ 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: $2,270 · $189/mo
• Projected year-2 tax: $2,270 · $189/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 6/10 Major FEMA zone AE · 69% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,788
• − Mortgage interest: −$4,476
• − Property taxes: −$2,270
• − Insurance: −$5,924
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$2,324
• Taxable income: $787
• Est. tax owed @ 24.0%: −$189
• After-tax cash flow: $1,431/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): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -60.84%
• Current HPI: 191.0405
• 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

+14.3% since first listed

10 events — show timeline

• 2026-06-15 Listed $79,900 REALCOMP
• 2026-06-15 Listed $79,900 MiRealSource-MiMLS
• 2022-11-08 Listing Removed — MiRealSource-MiMLS
• 2022-11-08 Listing Removed — REALCOMP
• 2022-09-23 Relisted — REALCOMP
• 2022-09-19 Listing Removed — REALCOMP
• 2022-09-14 Relisted — REALCOMP
• 2022-09-14 Listing Removed — REALCOMP
• 2022-09-13 Listed $69,900 MiRealSource-MiMLS
• 2022-09-13 Listed $69,900 REALCOMP

Property tax history

+7.3%/yr

Latest (2025): $2,270 · -0.6% YoY. Source: county tax records.