3357 Columbus St · Detroit, MI 48206

$69,995

6 bd · 2.5 ba · 2,588 sqft · MultiFamily public records · 152 Days on market

Built 1915 2,178 sqft lot Est $98k · 29% under ↓ 13% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

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

Listing remarks MLS

Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

Key facts

• 2,178 sq ft lot
• Built 1915
• Listed 152 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $855/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 35.6% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $2,770/mo this rent would consume 74% 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 $484 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,595 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 3.96% ✓
• Cap rate: 35.63%
• Cash-on-cash: 104.76%
• DSCR: 5.66
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $98,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4081 W Euclid St	0.33mi	6/2.0	2,700 (+4%)	1mo	$71,200	$26	74
3738 Virginia Park St	0.21mi	6/2.0	2,664 (+3%)	12mo	$69,000	$26	73
3813 Blaine St	0.41mi	6/2.0	2,650 (+2%)	6mo	$110,000	$42	70
3759 W Euclid St	0.24mi	6/2.0	2,346 (-9%)	2mo	$207,500	$88	69
3764 W Euclid St	0.27mi	6/2.0	2,838 (+10%)	4mo	$200,000	$70	66
3785 Blaine St	0.40mi	6/2.5	2,330 (-10%)	1mo	$40,000	$17	64
4353 Seebaldt St	0.44mi	6/2.0	2,764 (+7%)	3mo	$65,000	$24	63
8625-27 Dexter Ave	0.38mi	6/2.0	2,856 (+10%)	2mo	$87,000	$30	61
3757 Blaine St	0.39mi	6/2.5	2,362 (-9%)	8mo	$205,000	$87	61
2471-2473 Lothrop St	0.60mi	5/2.0 (-1)	2,670 (+3%)	6mo	$101,600	$38	54
2513 W Euclid St	0.57mi	6/2.0	2,788 (+8%)	7mo	$200,000	$72	52
8671 Quincy St	0.52mi	6/2.0	2,774 (+7%)	13mo	$24,000	$9	51

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.30×
• Total profit: $103,932
• Equity at exit: $10,436

10-year hold

• IRR: —
• Equity multiple: 14.16×
• Total profit: $257,870
• Equity at exit: $6,052

Cash invested: $19,599 (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: $2,770 high
• Mortgage (P&I): −$367
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $1,711

Break-even live

Break-even rent $604

Max offer price $69,995

Occupancy floor 33%

Sensitivity live

Price	-10% $1,751	-5% $1,731	+0% $1,711	+5% $1,691	+10% $1,671
Rent	-10% $1,492	-5% $1,602	+0% $1,711	+5% $1,820	+10% $1,930
Rate	-1.0pp $1,746	-0.5pp $1,729	base $1,711	+0.5pp $1,693	+1.0pp $1,674

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,770
Total (2 units)			$2,770

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: $17,499
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	17d	1	0.30mi
2509 Gladstone St Unit NA Detroit, MI	6.0	3.0	3008	$2,000	$0.66	11d	1	0.72mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	0.88mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	1.01mi

Listing history 14 events

1. 2025-03-13
   status Pending 722-char remark

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

2. 2025-03-13
   status Pending

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

3. 2025-02-26
   soldstatus $61,000
4. 2025-02-04
   status Active 722-char remark

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

5. 2025-02-04
   status Active

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

6. 2025-02-02
   status Pending 722-char remark

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

7. 2025-02-02
   status Pending

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

8. 2024-12-27
   status Active 722-char remark

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

9. 2024-12-27
   status Active

   Show marketing remark (722 chars)

   Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

10. 2024-12-17
    status Pending
11. 2024-12-06
    status Pending 722-char remark

    Show marketing remark (722 chars)

    Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

12. 2024-12-06
    status Pending

    Show marketing remark (722 chars)

    Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

13. 2024-09-19
    listed $69,995 Active
14. 2024-09-17
    listed $69,995 Active 722-char remark

    Show marketing remark (722 chars)

    Calling all Fix and Flippers, House Hackers, Air BnB Host and Rehabbers. We have a great Investor special with loads of opportunity. .. 3 bedroom Duplex in a up and coming area. Roughly a mile from Henry Ford Hospital, Motown Museum and the New Center area. There's a ton of Commerical, as well as, residential construction buzzing all around this area. One half of the duplex has been gutted down to the studs and the other half has been cleaned out. Although this project needs a full gut renovation, the bones of the structure is solid and the property values are climbing. The Sellers torn down the old un-safe porches on each side and had new porches built. Now you can take it from there. Don't miss out on this one!

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $1,026 · $85/mo
• Expected delta: +$52/yr (+$4/mo · 5.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $33,240
• − Mortgage interest: −$3,921
• − Property taxes: −$974
• − Insurance: −$350
• − Repairs & maintenance: −$2,659
• − Management: −$2,659
• − Depreciation: −$2,036
• Taxable income: $20,641
• Est. tax owed @ 24.0%: −$4,954
• After-tax cash flow: $15,577/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

-12.9% since first listed

14 events — show timeline

• 2025-03-13 Pending — MiRealSource-MiMLS
• 2025-03-13 Pending — REALCOMP
• 2025-02-26 Sold (Public Records) $61,000 Public Records
• 2025-02-04 Relisted — MiRealSource-MiMLS
• 2025-02-04 Relisted — REALCOMP
• 2025-02-02 Pending — MiRealSource-MiMLS
• 2025-02-02 Pending — REALCOMP
• 2024-12-27 Relisted — MiRealSource-MiMLS
• 2024-12-27 Relisted — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2024-12-06 Pending — MiRealSource-MiMLS
• 2024-12-06 Pending — REALCOMP
• 2024-09-19 Listed $69,995 REALCOMP
• 2024-09-17 Listed $69,995 MiRealSource-MiMLS

Property tax history

+2.4%/yr

Latest (2025): $974 · -53.7% YoY. Source: county tax records.