4170 Concord St · Detroit, MI 48207

$89,900

4 bd · 2.5 ba · 2,576 sqft · MultiFamily public records · 31 Days on market

Built 1915 3,485 sqft lot $35/sqft · 12% above area Est $80k · 12% over

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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
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great opportunity for investors and first-time homeowners, two units, front unit has three bedrooms, one bath, huge living room and kitchen, minutes from downtown Detroit. Being remodeled. The rear unit has 2 bedrooms. Don't miss out on this one. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

Key facts

• Remodeled
• Huge living room
• Two units

Tags

• TWO UNITS
• HUGE LIVING ROOM
• REMODELED
• MINUTES FROM DOWNTOWN DETROIT

Property features AI

Finance

• Other: Lot approximately 30 x 120 (about 0.08 acres); residential zoning
• Financial info: No financial details provided beyond tax info (tax amount excluded per instructions)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential income property (multi-family); One story
• Construction: Asphalt materials (roof/construction); Asphalt roof; Block foundation; Built as multi-family; above-grade finished area approximately 2,576 square feet
• Exterior features: Covered porch; Paved road access; Pets not allowed

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: One 2-bedroom unit; One 3-bedroom unit
• Bathrooms: Two full bathrooms total (unit breakdown: 2 one-bath units — 1 bath in the 2-bed unit and 1 bath in the 3-bed unit)
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Gas water heater; Partial unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $730/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.8% 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: Rents rising (+3.5%/yr); 244 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).
• At $2,845/mo this rent would consume 71% of the median local household income ($48k/yr) (locally 2017% 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 (-2.8%/yr); year-one equity from $622 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.
• At projected returns (-2.8% appreciation + 3.5% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 3y 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.
• Current owner paid $15k; list at $90k implies a 499% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 3.16% ✓
• Cap rate: 25.79%
• Cash-on-cash: 69.64%
• DSCR: 4.10
• GRM: 2.6

CMA / ARV

• ARV (median comp): $80,491
• List price: $89,900
• Delta: 11.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3978 Canton St	0.11mi	4/2.0	2,328 (-10%)	4mo	$30,000	$13	74
846 E Grand Blvd	0.31mi	4/2.0	2,400 (-7%)	8mo	$242,000	$101	66
4613 Meldrum St	0.28mi	4/2.0	2,878 (+12%)	1mo	$4,250	$1	64
3643 Seyburn St	0.57mi	4/3.0	2,486 (-4%)	15mo	$255,000	$103	53
3990 Meldrum St	0.23mi	4/2.0	2,296 (-11%)	23mo	$22,000	$10	50
3631 Helen St	0.32mi	5/2.0 (+1)	2,860 (+11%)	15mo	$85,000	$30	47
3150 E Forest Ave	0.74mi	4/2.5	2,425 (-6%)	11mo	$29,000	$12	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.79% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: 70.0%
• Equity multiple: 4.22×
• Total profit: $80,936
• Equity at exit: $14,242

10-year hold

• IRR: 74.1%
• Equity multiple: 8.86×
• Total profit: $197,878
• Equity at exit: $9,220

Cash invested: $25,172 (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 48207

• Home prices YoY: -2.0%
• Rents YoY: 3.5%
• Active inventory: 244
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,845 high
• Mortgage (P&I): −$471
• Tax from tax record: −$278 /mo · $3,333/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $1,461

Break-even live

Break-even rent $996

Max offer price $89,900

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,844
Total (2 units)			$2,845

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.32mi
1738 Canton St Unit 1 Detroit, MI	4.0	1.0	2244	$1,650	$0.74	44d	1	1.14mi
1348 Village Dr Detroit, MI	3.0	2.5	2100	$2,295	$1.09	24d	1	1.46mi

Listing history 50 events

1. 2026-06-15
   statusdays on market $89,900 Pending 31 DOM
2. 2026-06-13
   days on market $89,900 Active 30 DOM
3. 2026-06-13
   days on market $89,900 Active 29 DOM
4. 2026-06-09
   days on market $89,900 Active 26 DOM
5. 2026-06-08
   days on market $89,900 Active 25 DOM
6. 2026-06-07
   days on market $89,900 Active 24 DOM
7. 2026-06-04
   days on market $89,900 Active 21 DOM
8. 2026-06-03
   days on market $89,900 Active 20 DOM
9. 2026-06-02
   days on market $89,900 Active 19 DOM
10. 2026-06-01
    days on market $89,900 Active 18 DOM
11. 2026-05-31
    days on market $89,900 Active 17 DOM
12. 2026-05-14
    listed $89,900 Active 387-char remark

    Show marketing remark (387 chars)

    Great opportunity for investors and first-time homeowners, two units, front unit has three bedrooms, one bath, huge living room and kitchen, minutes from downtown Detroit. Being remodeled. The rear unit has 2 bedrooms. Don't miss out on this one. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

13. 2026-05-14
    listed $89,900 Active 387-char remark

    Show marketing remark (387 chars)

    Great opportunity for investors and first-time homeowners, two units, front unit has three bedrooms, one bath, huge living room and kitchen, minutes from downtown Detroit. Being remodeled. The rear unit has 2 bedrooms. Don't miss out on this one. The accuracy of all information, regardless of the source, is not guaranteed or warranted. All information should be independently verified.

14. 2026-05-13
    historical
15. 2026-05-13
    status Active
16. 2026-03-27
    status Pending
17. 2026-03-27
    historical
18. 2026-01-07
    status Pending
19. 2026-01-07
    status Pending
20. 2026-01-03
    price $35,000
21. 2026-01-02
    price $35,000
22. 2025-12-18
    price $25,000
23. 2025-12-17
    price $25,000
24. 2025-09-30
    price $69,900
25. 2025-09-29
    price $69,900
26. 2025-09-29
    status Active
27. 2025-09-29
    status Active
28. 2025-09-04
    historical
29. 2025-09-04
    historical
30. 2025-08-27
    listed $40,000 Active
31. 2025-08-27
    listed $40,000 Active
32. 2025-04-15
    historical
33. 2025-01-30
    listed $79,900 Active
34. 2025-01-30
    listed $79,900 Active
35. 2023-12-20
    status Pending
36. 2023-11-12
    price $59,900
37. 2023-11-11
    price $59,900
38. 2023-11-01
    soldstatus $15,000 Sold
39. 2023-11-01
    soldstatus $15,000 Closed
40. 2023-10-26
    listed $65,000 Active
41. 2023-10-26
    listed $65,000 Active
42. 2023-06-29
    status Pending
43. 2023-06-29
    status Pending
44. 2023-06-29
    soldstatus $14,500 Sold
45. 2023-06-29
    soldstatus $14,500 Closed
46. 2023-06-06
    price $19,900
47. 2023-06-06
    price $19,900
48. 2023-05-30
    price $29,900
49. 2023-05-30
    price $29,900
50. 2023-05-01
    price $34,900

ⓘ 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: $3,333 · $278/mo
• Projected year-2 tax: $3,333 · $278/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: $34,140
• − Mortgage interest: −$5,036
• − Property taxes: −$3,333
• − Insurance: −$450
• − Repairs & maintenance: −$2,731
• − Management: −$2,731
• − Depreciation: −$2,615
• Taxable income: $17,244
• Est. tax owed @ 24.0%: −$4,139
• After-tax cash flow: $13,392/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): 20,848
• Household income: $47,831
• Rent vs Own: 74.2% rent · 25.8% own
• Severe rent burden: 2017.0

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 (74%)
• Race & ethnicity: Black 74% White 18% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▼ -2.79%
• Current HPI: 136.6328
• Rent YoY: ▲ 3.53%
• 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

+125.3% since first listed

44 events — show timeline

• 2026-06-14 Pending — REALCOMP
• 2026-06-12 Pending — MiRealSource-MiMLS
• 2026-05-14 Listed $89,900 MiRealSource-MiMLS
• 2026-05-14 Listed $89,900 REALCOMP
• 2026-05-13 Listing Removed — MiRealSource-MiMLS
• 2026-05-13 Relisted — REALCOMP
• 2026-03-27 Pending — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-01-07 Pending — MiRealSource-MiMLS
• 2026-01-07 Pending — REALCOMP
• 2026-01-03 Price Changed $35,000 MiRealSource-MiMLS
• 2026-01-02 Price Changed $35,000 REALCOMP
• 2025-12-18 Price Changed $25,000 MiRealSource-MiMLS
• 2025-12-17 Price Changed $25,000 REALCOMP
• 2025-09-30 Price Changed $69,900 MiRealSource-MiMLS
• 2025-09-29 Price Changed $69,900 REALCOMP
• 2025-09-29 Relisted — MiRealSource-MiMLS
• 2025-09-29 Relisted — REALCOMP
• 2025-09-04 Listing Removed — REALCOMP
• 2025-09-04 Listing Removed — MiRealSource-MiMLS
• 2025-08-27 Listed $40,000 REALCOMP
• 2025-08-27 Listed $40,000 MiRealSource-MiMLS
• 2025-04-15 Listing Removed — MiRealSource-MiMLS
• 2025-01-30 Listed $79,900 REALCOMP
• 2025-01-30 Listed $79,900 MiRealSource-MiMLS
• 2023-12-20 Pending — REALCOMP
• 2023-11-12 Price Changed $59,900 MiRealSource-MiMLS
• 2023-11-11 Price Changed $59,900 REALCOMP
• 2023-11-01 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2023-11-01 Sold (MLS) $15,000 REALCOMP
• 2023-10-26 Listed $65,000 MiRealSource-MiMLS
• 2023-10-26 Listed $65,000 REALCOMP
• 2023-06-29 Pending — MiRealSource-MiMLS
• 2023-06-29 Pending — REALCOMP
• 2023-06-29 Sold (MLS) $14,500 MiRealSource-MiMLS
• 2023-06-29 Sold (MLS) $14,500 REALCOMP
• 2023-06-06 Price Changed $19,900 MiRealSource-MiMLS
• 2023-06-06 Price Changed $19,900 REALCOMP
• 2023-05-30 Price Changed $29,900 MiRealSource-MiMLS
• 2023-05-30 Price Changed $29,900 REALCOMP
• 2023-05-01 Price Changed $34,900 MiRealSource-MiMLS
• 2023-05-01 Price Changed $34,900 REALCOMP
• 2023-04-07 Listed $39,900 MiRealSource-MiMLS
• 2023-04-07 Listed $39,900 REALCOMP

Property tax history

+13.5%/yr

Latest (2025): $3,333 · -15.2% YoY. Source: county tax records.