7464/7460 Southfield Rd · Detroit, MI 48228

$399,900

15 bd · 1.0 ba · 1,456 sqft · MultiFamily public records · 13 Days on market

Built 1959 3,920 sqft lot $275/sqft · 260% above area

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Exceptional investment opportunity featuring an 8-unit apartment portfolio consisting of four duplex buildings located at 7438-7440 Southfield, 7444-7446 Southfield, 7452-7454 Southfield, and 7460-7464 Southfield. This fully occupied complex offers immediate cash flow with strong upside potential for the next owner. Well-positioned for investors seeking a stabilized asset with room to increase rents, improve operations, or enhance long-term value. Each duplex offers solid rental demand and a desirable multi-building layout that helps diversify tenancy. Whether you're expanding your portfolio or entering the multifamily market, this income-producing property is ready for its next buyer. Rare opportunity to acquire 8 units in one package with endless potential.

Key facts

• Solid rental demand
• 3,920 sq ft lot
• 14 parking spots

Tags

• 8 UNIT APARTMENT PORTFOLIO
• FOUR DUPLEX BUILDINGS
• FULLY OCCUPIED COMPLEX
• STRONG UPSIDE POTENTIAL
• SOLID RENTAL DEMAND
• MULTI-BUILDING LAYOUT

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/?-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $979 ($12k/yr) — positive. Per door: $326/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).

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 soft (-2.3%/yr); 363 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $4,383/mo this rent would consume 171% of the median local household income ($31k/yr) (locally 4144% 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 $3k of loan paydown is wiped out by about $12k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $72k; list at $400k implies a 455% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.10% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.50%
• DSCR: 1.47
• GRM: 7.6

CMA / ARV

• ARV (median comp): $111,360
• List price: $399,900
• Delta: 259.10%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-15,369
• Equity at exit: $59,626

10-year hold

• IRR: 2.4%
• Equity multiple: 1.15×
• Total profit: $16,873
• Equity at exit: $34,576

Cash invested: $111,972 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 22.8×

Monthly cashflow live

• Estimated rent: $4,383 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$219 /mo · $2,632/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$920
• Net cashflow: $979

Break-even live

Break-even rent $3,143

Max offer price $399,900

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	—	$4,383
Total (3 units)			$4,383

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-07
   status Pending 769-char remark

   Show marketing remark (769 chars)

   Exceptional investment opportunity featuring an 8-unit apartment portfolio consisting of four duplex buildings located at 7438-7440 Southfield, 7444-7446 Southfield, 7452-7454 Southfield, and 7460-7464 Southfield. This fully occupied complex offers immediate cash flow with strong upside potential for the next owner. Well-positioned for investors seeking a stabilized asset with room to increase rents, improve operations, or enhance long-term value. Each duplex offers solid rental demand and a desirable multi-building layout that helps diversify tenancy. Whether you're expanding your portfolio or entering the multifamily market, this income-producing property is ready for its next buyer. Rare opportunity to acquire 8 units in one package with endless potential.

2. 2026-05-07
   status Pending 769-char remark

   Show marketing remark (769 chars)

   Exceptional investment opportunity featuring an 8-unit apartment portfolio consisting of four duplex buildings located at 7438-7440 Southfield, 7444-7446 Southfield, 7452-7454 Southfield, and 7460-7464 Southfield. This fully occupied complex offers immediate cash flow with strong upside potential for the next owner. Well-positioned for investors seeking a stabilized asset with room to increase rents, improve operations, or enhance long-term value. Each duplex offers solid rental demand and a desirable multi-building layout that helps diversify tenancy. Whether you're expanding your portfolio or entering the multifamily market, this income-producing property is ready for its next buyer. Rare opportunity to acquire 8 units in one package with endless potential.

3. 2026-04-24
   listed $399,900 Active 769-char remark

   Show marketing remark (769 chars)

   Exceptional investment opportunity featuring an 8-unit apartment portfolio consisting of four duplex buildings located at 7438-7440 Southfield, 7444-7446 Southfield, 7452-7454 Southfield, and 7460-7464 Southfield. This fully occupied complex offers immediate cash flow with strong upside potential for the next owner. Well-positioned for investors seeking a stabilized asset with room to increase rents, improve operations, or enhance long-term value. Each duplex offers solid rental demand and a desirable multi-building layout that helps diversify tenancy. Whether you're expanding your portfolio or entering the multifamily market, this income-producing property is ready for its next buyer. Rare opportunity to acquire 8 units in one package with endless potential.

4. 2026-04-24
   listed $399,900 Active 769-char remark

   Show marketing remark (769 chars)

   Exceptional investment opportunity featuring an 8-unit apartment portfolio consisting of four duplex buildings located at 7438-7440 Southfield, 7444-7446 Southfield, 7452-7454 Southfield, and 7460-7464 Southfield. This fully occupied complex offers immediate cash flow with strong upside potential for the next owner. Well-positioned for investors seeking a stabilized asset with room to increase rents, improve operations, or enhance long-term value. Each duplex offers solid rental demand and a desirable multi-building layout that helps diversify tenancy. Whether you're expanding your portfolio or entering the multifamily market, this income-producing property is ready for its next buyer. Rare opportunity to acquire 8 units in one package with endless potential.

5. 2023-02-06
   soldstatus $72,000

ⓘ 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: $2,632 · $219/mo
• Projected year-2 tax: $4,395 · $366/mo
• Expected delta: +$1,763/yr (+$147/mo · 67.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,596
• − Mortgage interest: −$22,401
• − Property taxes: −$2,632
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,208
• − Management: −$4,208
• − Depreciation: −$11,633
• Taxable income: $5,515
• Est. tax owed @ 24.0%: −$1,324
• After-tax cash flow: $10,430/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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

+455.4% since first listed

5 events — show timeline

• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — REALCOMP
• 2026-04-24 Listed $399,900 REALCOMP
• 2026-04-24 Listed $399,900 MiRealSource-MiMLS
• 2023-02-06 Sold (Public Records) $72,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,632 · -8.3% YoY. Source: county tax records.