5541 Field St · Detroit, MI 48213

$35,000

4 bd · 2.0 ba · 2,384 sqft · Townhouse public records · 118 Days on market

Built 1914 3,485 sqft lot $15/sqft · 37% below area Est $35k · at est.

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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 +15.0/30.0
• ARV discount +7.2/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don't miss out - schedule your tour today!

Key facts

• 3,485 sq ft lot
• Built 1914
• Listed 117 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $35k.

Deal economics

• At list price, monthly cash flow is $976 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• 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: 192 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,625/mo this rent would consume 57% of the median local household income ($34k/yr) (locally 1202% 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 $242 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 + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $25k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1k; list at $35k implies a 3400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 4.64% ✓
• Cap rate: 39.74%
• Cash-on-cash: 119.45%
• DSCR: 6.31
• GRM: 1.8

CMA / ARV

• ARV (median comp): $34,797
• List price: $35,000
• Delta: 0.58%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.77×
• Total profit: $56,526
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 14.21×
• Total profit: $129,492
• Equity at exit: $3,026

Cash invested: $9,800 (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 48213

• Active inventory: 192
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,625 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $976

Break-even live

Break-even rent $390

Max offer price $35,000

Occupancy floor 35%

Sensitivity live

Price	-10% $995	-5% $985	+0% $976	+5% $966	+10% $956
Rent	-10% $847	-5% $911	+0% $976	+5% $1,040	+10% $1,104
Rate	-1.0pp $993	-0.5pp $984	base $976	+0.5pp $966	+1.0pp $957

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	44d	1	1.06mi

Listing history 28 events

1. 2026-06-21
   days on market $35,000 Active 118 DOM
2. 2026-06-18
   days on market $35,000 Active 115 DOM
3. 2026-06-17
   days on market $35,000 Active 114 DOM
4. 2026-06-15
   days on market $35,000 Active 112 DOM
5. 2026-06-13
   days on market $35,000 Active 110 DOM
6. 2026-06-13
   days on market $35,000 Active 109 DOM
7. 2026-06-09
   days on market $35,000 Active 106 DOM
8. 2026-06-08
   days on market $35,000 Active 105 DOM
9. 2026-06-07
   days on market $35,000 Active 104 DOM
10. 2026-06-04
    pricedays on market $35,000 Active 101 DOM
11. 2026-06-03
    days on market $49,500 Active 100 DOM
12. 2026-06-01
    days on market $49,500 Active 98 DOM
13. 2026-05-31
    days on market $49,500 Active 97 DOM
14. 2026-05-13
    price $49,500 243-char remark

    Show marketing remark (253 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don’t miss out—schedule your tour today!

15. 2026-05-13
    price $49,500 253-char remark

    Show marketing remark (253 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don’t miss out—schedule your tour today!

16. 2026-04-08
    price $55,000 243-char remark

    Show marketing remark (243 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don't miss out - schedule your tour today!

17. 2026-04-07
    price $55,000 253-char remark

    Show marketing remark (253 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don’t miss out—schedule your tour today!

18. 2026-03-26
    status Active 253-char remark

    Show marketing remark (253 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don’t miss out—schedule your tour today!

19. 2026-03-26
    historical 253-char remark

    Show marketing remark (253 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don’t miss out—schedule your tour today!

20. 2026-02-23
    listed $60,000 Active 253-char remark

    Show marketing remark (243 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don't miss out - schedule your tour today!

21. 2026-02-23
    listed $60,000 Active 243-char remark

    Show marketing remark (243 chars)

    Solid investment opportunity! This all-brick duplex features 2 bedrooms and 2 bathrooms in each unit. Property is ready for some TLC to maximize its full potential and start generating strong returns. Don't miss out - schedule your tour today!

22. 2015-04-20
    soldstatus $1,000
23. 2015-04-20
    soldstatus $1,000 Closed
24. 2015-03-30
    status Pending
25. 2015-03-09
    status Back on Market
26. 2015-03-04
    status Pending
27. 2015-01-20
    listed $1,000 Active
28. 2015-01-20
    listed $1,000

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/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 ≥96°F today · 14 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: $19,504
• − Mortgage interest: −$1,961
• − Property taxes: −$1,324
• − Insurance: −$175
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$1,018
• Taxable income: $11,905
• Est. tax owed @ 24.0%: −$2,857
• After-tax cash flow: $8,849/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

+4850.0% since first listed

15 events — show timeline

• 2026-05-13 Price Changed $49,500 MiRealSource-MiMLS
• 2026-05-13 Price Changed $49,500 REALCOMP
• 2026-04-08 Price Changed $55,000 MiRealSource-MiMLS
• 2026-04-07 Price Changed $55,000 REALCOMP
• 2026-03-26 Relisted — REALCOMP
• 2026-03-26 Listing Removed — REALCOMP
• 2026-02-23 Listed $60,000 REALCOMP
• 2026-02-23 Listed $60,000 MiRealSource-MiMLS
• 2015-04-20 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2015-04-20 Sold (MLS) $1,000 REALCOMP
• 2015-03-30 Pending — MiRealSource-MiMLS
• 2015-03-09 Relisted — MiRealSource-MiMLS
• 2015-03-04 Pending — MiRealSource-MiMLS
• 2015-01-20 Listed $1,000 MiRealSource-MiMLS
• 2015-01-20 Listed $1,000 REALCOMP

Property tax history

+4.1%/yr

Latest (2025): $1,324 · -45.9% YoY. Source: county tax records.