3793 Pingree St · Detroit, MI 48206

$100,000

6 bd · 2.5 ba · 2,518 sqft · Townhouse public records · 24 Days on market

Built 1919 3,485 sqft lot $40/sqft · 51% below area

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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 +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This six-bedroom, two-bathroom duplex provides a high-potential investment opportunity with the most costly mechanical work already finished. All new plumbing and electrical systems are complete, allowing you to bypass major renovation hurdles and focus your budget entirely on cosmetic updates. With the structural and utility upgrades handled, this property is ideal for an investor looking for a faster path to rental cash flow or a market-ready flip. It offers a solid foundation and a simplified project timeline in an area with consistent rental demand.

Key facts

• New plumbing
• Solid foundation
• 3,485 sq ft lot

Tags

• NEW PLUMBING
• NEW ELECTRICAL SYSTEMS
• SOLID FOUNDATION

Property features AI

Finance

• Other: Lot dimensions approximately 35 x 104 (0.08 acre)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Brick construction; Brick/mortar foundation; Built with traditional construction materials
• Exterior features: Awning(s); Balcony; Covered porch; Back yard fencing; Asphalt roof; Ground-level entry with steps; Paved road access

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath townhouse listed at $100k.

Deal economics

• At list price, monthly cash flow is $819 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.1% 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 fast (+5.2%/yr); 271 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,008/mo this rent would consume 53% of the median local household income ($45k/yr) (locally 646% 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 $691 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 (-3.0% appreciation + 5.2% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y 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 $9k; list at $100k implies a 1011% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.01% ✓
• Cap rate: 16.12%
• Cash-on-cash: 35.11%
• DSCR: 2.56
• GRM: 4.2

CMA / ARV

• ARV (median comp): $205,851
• List price: $100,000
• Delta: -51.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 33.3%
• Equity multiple: 2.45×
• Total profit: $40,597
• Equity at exit: $14,910

10-year hold

• IRR: 41.5%
• Equity multiple: 5.37×
• Total profit: $122,352
• Equity at exit: $8,646

Cash invested: $28,000 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,008 high
• Mortgage (P&I): −$524
• Tax from tax record: −$201 /mo · $2,408/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $819

Break-even live

Break-even rent $971

Max offer price $100,000

Occupancy floor 54%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	16d	1	0.09mi
2509 Gladstone St Unit NA Detroit, MI	6.0	3.0	3008	$2,000	$0.66	10d	1	0.66mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	0.78mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	0.99mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.39mi

Listing history 19 events

1. 2026-06-01
   days on market $100,000 Active 24 DOM
2. 2026-05-31
   days on market $100,000 Active 23 DOM
3. 2026-05-14
   listed $100,000 Active 559-char remark
4. 2026-05-14
   listed $100,000 Active 559-char remark
5. 2026-05-08
   listed $100,000 Active
6. 2026-05-08
   listed $100,000 Active
7. 2022-05-20
   historical
8. 2022-05-19
   historical
9. 2022-04-15
   status Active
10. 2022-04-12
    historical
11. 2022-01-13
    listed $67,500 Active
12. 2022-01-13
    listed $67,500 Active
13. 2014-09-02
    soldstatus $9,000
14. 2014-09-02
    soldstatus $9,000
15. 2014-08-29
    historical
16. 2013-04-10
    listed $9,000
17. 2013-04-10
    listed $9,000
18. 2007-07-05
    historical
19. 2007-02-05
    listed $50,000

ⓘ 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: $2,408 · $201/mo
• Projected year-2 tax: $2,408 · $201/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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,093
• − Mortgage interest: −$5,602
• − Property taxes: −$2,408
• − Insurance: −$500
• − Repairs & maintenance: −$1,927
• − Management: −$1,927
• − Depreciation: −$2,909
• Taxable income: $8,819
• Est. tax owed @ 24.0%: −$2,116
• After-tax cash flow: $7,715/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

+100.0% since first listed

20 events — show timeline

• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-01 Listing Removed — REALCOMP
• 2026-05-14 Listed $100,000 MiRealSource-MiMLS
• 2026-05-14 Listed $100,000 REALCOMP
• 2026-05-08 Listed $100,000 REALCOMP
• 2026-05-08 Listed $100,000 MiRealSource-MiMLS
• 2022-05-20 Listing Removed — REALCOMP
• 2022-05-19 Listing Removed — MiRealSource-MiMLS
• 2022-04-15 Relisted — REALCOMP
• 2022-04-12 Listing Removed — REALCOMP
• 2022-01-13 Listed $67,500 MiRealSource-MiMLS
• 2022-01-13 Listed $67,500 REALCOMP
• 2014-09-02 Sold (MLS) $9,000 MiRealSource-MiMLS
• 2014-09-02 Sold (MLS) $9,000 REALCOMP
• 2014-08-29 Listing Removed — MiRealSource-MiMLS
• 2013-04-10 Listed $9,000 MiRealSource-MiMLS
• 2013-04-10 Listed $9,000 REALCOMP
• 2007-07-05 Listing Removed — MiRealSource-MiMLS
• 2007-02-05 Listed $50,000 MiRealSource-MiMLS

Property tax history

+5.8%/yr

Latest (2025): $2,408 · +13.9% YoY. Source: county tax records.