3257 Hogarth St · Detroit, MI 48206

$50,000

6 bd · 1.5 ba · 1,420 sqft · Townhouse public records · 179 Days on market

Built 1915 2,178 sqft lot $35/sqft · 68% above area Est $59k · 16% under ↓ 29% 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 +14.5/15.0
• 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

Listing remarks MLS

Great investment. DLBA-owned side by side duplex with 3 bed in each unit property located in the Wildemere Park neighborhood. Sold with 3255 Hogarth St for a total of $70000. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal to DLBA, including intended use and renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). The DLBA recommends reviewing all applicable Neighborhood Framework Plans through the City of Detroit Planning and Development Department for additional neighborhood context. DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require payment in lieu of taxes, subject to review of development pro forma and financing.

Key facts

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

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.7% vs local median 10.0% 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); 273 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,882/mo this rent would consume 50% 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 $346 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 3.76% ✓
• Cap rate: 33.68%
• Cash-on-cash: 97.82%
• DSCR: 5.35
• GRM: 2.2

CMA / ARV

• ARV (median comp): $59,220
• List price: $50,000
• Delta: -15.57%
• 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: —
• Equity multiple: 5.92×
• Total profit: $68,871
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 13.28×
• Total profit: $171,958
• Equity at exit: $4,323

Cash invested: $14,000 (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: 273
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,882 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $1,141

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,176	-5% $1,159	+0% $1,141	+5% $1,124	+10% $1,107
Rent	-10% $993	-5% $1,067	+0% $1,141	+5% $1,216	+10% $1,290
Rate	-1.0pp $1,166	-0.5pp $1,154	base $1,141	+0.5pp $1,128	+1.0pp $1,115

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4114 W Euclid St Detroit, MI	6.0	2.0	1500	$1,800	$1.20	45d	1	0.53mi

Listing history 17 events

1. 2026-06-21
   days on market $50,000 Active 179 DOM
2. 2026-06-18
   days on market $50,000 Active 176 DOM
3. 2026-06-17
   days on market $50,000 Active 175 DOM
4. 2026-06-15
   days on market $50,000 Active 173 DOM
5. 2026-06-13
   days on market $50,000 Active 171 DOM
6. 2026-06-13
   days on market $50,000 Active 170 DOM
7. 2026-06-09
   days on market $50,000 Active 167 DOM
8. 2026-06-08
   days on market $50,000 Active 166 DOM
9. 2026-06-07
   days on market $50,000 Active 165 DOM
10. 2026-06-04
    days on market $50,000 Active 162 DOM
11. 2026-06-03
    days on market $50,000 Active 161 DOM
12. 2026-06-01
    days on market $50,000 Active 159 DOM
13. 2026-05-31
    days on market $50,000 Active 158 DOM
14. 2026-04-14
    price $50,000 1021-char remark

    Show marketing remark (1022 chars)

    Great investment. DLBA-owned side by side duplex with 3 bed in each unit property located in the Wildemere Park neighborhood. Sold with 3255 Hogarth St for a total of $70000. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal to DLBA, including intended use and renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). The DLBA recommends reviewing all applicable Neighborhood Framework Plans through the City of Detroit Planning and Development Department for additional neighborhood context. DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require payment in lieu of taxes, subject to review of development pro forma and financing.

15. 2026-04-14
    price $50,000 1022-char remark

    Show marketing remark (1022 chars)

    Great investment. DLBA-owned side by side duplex with 3 bed in each unit property located in the Wildemere Park neighborhood. Sold with 3255 Hogarth St for a total of $70000. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal to DLBA, including intended use and renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). The DLBA recommends reviewing all applicable Neighborhood Framework Plans through the City of Detroit Planning and Development Department for additional neighborhood context. DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require payment in lieu of taxes, subject to review of development pro forma and financing.

16. 2025-12-24
    listed $70,000 Active 1021-char remark

    Show marketing remark (1022 chars)

    Great investment. DLBA-owned side by side duplex with 3 bed in each unit property located in the Wildemere Park neighborhood. Sold with 3255 Hogarth St for a total of $70000. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal to DLBA, including intended use and renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). The DLBA recommends reviewing all applicable Neighborhood Framework Plans through the City of Detroit Planning and Development Department for additional neighborhood context. DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require payment in lieu of taxes, subject to review of development pro forma and financing.

17. 2025-12-24
    listed $70,000 Active 1022-char remark

    Show marketing remark (1022 chars)

    Great investment. DLBA-owned side by side duplex with 3 bed in each unit property located in the Wildemere Park neighborhood. Sold with 3255 Hogarth St for a total of $70000. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal to DLBA, including intended use and renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos). The DLBA recommends reviewing all applicable Neighborhood Framework Plans through the City of Detroit Planning and Development Department for additional neighborhood context. DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require payment in lieu of taxes, subject to review of development pro forma and financing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $22,584
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$1,455
• Taxable income: $13,715
• Est. tax owed @ 24.0%: −$3,292
• After-tax cash flow: $10,403/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

-28.6% since first listed

4 events — show timeline

• 2026-04-14 Price Changed $50,000 MiRealSource-MiMLS
• 2026-04-14 Price Changed $50,000 REALCOMP
• 2025-12-24 Listed $70,000 REALCOMP
• 2025-12-24 Listed $70,000 MiRealSource-MiMLS

Property tax history

-27.6%/yr

Latest (2025): $13 · +0.0% YoY. Source: county tax records.