2971 Seyburn St · Detroit, MI 48214

$18,500

4 bd · 1.5 ba · 1,401 sqft · SingleFamily public records · 979 Days on market

Built 1910 3,049 sqft lot $13/sqft · 86% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the latest offering from the Detroit Land Bank Authority. 4 Bedroom colonial, located in the Islandview subdivision. Needs extensive rehab, please show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

Key facts

• 3,049 sq ft lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $18k.

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 $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 84.0% 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: 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.
• Zoned schools: Bunche Preparatory Academy (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 401 students, 93% FRL); Southeastern High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 644 students, 87% FRL) — zoned schools at 90% FRL track the district average.
• Market conditions: 300 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,674/mo this rent would consume 60% of the median local household income ($34k/yr) (locally 1364% 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 $128 of loan paydown is wiped out by about $555 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 + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 979 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $16,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 979 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 1910 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 9.05% ✓
• Cap rate: 83.99%
• Cash-on-cash: 277.48%
• DSCR: 13.35
• GRM: 0.9

CMA / ARV

• ARV (median comp): $128,561
• List price: $18,500
• Delta: -85.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3508 Parker St	0.28mi	3/2.5 (-1)	1,400 (-0%)	3mo	$266,300	$190	76
2927 Seyburn St	0.04mi	3/1.5 (-1)	1,500 (+7%)	9mo	$140,000	$93	74
2476 Beals St	0.19mi	3/1.5 (-1)	1,324 (-6%)	6mo	$287,900	$217	72
2501 Seyburn St	0.15mi	4/1.5	1,528 (+9%)	9mo	$51,000	$33	70
2509 Beals St	0.16mi	3/1.5 (-1)	1,500 (+7%)	8mo	$307,000	$205	70
3739 Van Dyke St	0.40mi	3/1.0 (-1)	1,361 (-3%)	3mo	$60,000	$44	67
1474 Shipherd St	0.61mi	4/1.5	1,437 (+3%)	4mo	$315,000	$219	63
2270 Parker St	0.35mi	3/1.0 (-1)	1,319 (-6%)	4mo	$217,500	$165	63
2559 Helen St	0.40mi	3/1.5 (-1)	1,508 (+8%)	3mo	$85,000	$56	62
3238 Helen St	0.40mi	3/1.0 (-1)	1,475 (+5%)	6mo	$58,425	$40	60
3869 Burns St	0.61mi	4/1.5	1,505 (+7%)	2mo	$230,000	$153	58
1831 Helen St St	0.59mi	3/1.5 (-1)	1,230 (-12%)	7mo	$227,500	$185	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 15.15×
• Total profit: $73,312
• Equity at exit: $2,758

10-year hold

• IRR: —
• Equity multiple: 32.31×
• Total profit: $162,165
• Equity at exit: $1,600

Cash invested: $5,180 (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 48214

• Active inventory: 300
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,674 high
• Mortgage (P&I): −$97
• Tax from tax record: −$20 /mo · $240/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $1,198

Break-even live

Break-even rent $158

Max offer price $18,500

Occupancy floor 23%

Sensitivity live

Price	-10% $1,208	-5% $1,203	+0% $1,198	+5% $1,193	+10% $1,187
Rent	-10% $1,066	-5% $1,132	+0% $1,198	+5% $1,264	+10% $1,330
Rate	-1.0pp $1,207	-0.5pp $1,202	base $1,198	+0.5pp $1,193	+1.0pp $1,188

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: $4,625
• Closing costs: $555
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	19d	1	0.19mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	45d	1	0.61mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	26d	1	0.69mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	19d	1	0.84mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	45d	1	0.89mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	19d	1	0.90mi
625 Field St Detroit, MI	3.0	1.5	900	$882	$0.98	19d	1	0.95mi
8100 E Jefferson Ave Detroit, MI	3.0	1.0–3.0	1089	$2,210	$2.03	21d	20	1.06mi

Listing history 19 events

1. 2026-06-21
   days on market $18,500 Active 979 DOM
2. 2026-06-18
   days on market $18,500 Active 976 DOM
3. 2026-06-17
   days on market $18,500 Active 975 DOM
4. 2026-06-15
   days on market $18,500 Active 973 DOM
5. 2026-06-13
   days on market $18,500 Active 971 DOM
6. 2026-06-13
   days on market $18,500 Active 970 DOM
7. 2026-06-09
   days on market $18,500 Active 967 DOM
8. 2026-06-08
   days on market $18,500 Active 966 DOM
9. 2026-06-07
   days on market $18,500 Active 965 DOM
10. 2026-06-04
    days on market $18,500 Active 962 DOM
11. 2026-06-03
    days on market $18,500 Active 961 DOM
12. 2026-06-01
    days on market $18,500 Active 959 DOM
13. 2026-05-31
    days on market $18,500 Active 958 DOM
14. 2023-10-16
    listed $18,500 Active 780-char remark

    Show marketing remark (779 chars)

    Welcome to the latest offering from the Detroit Land Bank Authority. 4 Bedroom colonial, located in the Islandview subdivision. Needs extensive rehab, please show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

15. 2023-10-16
    listed $18,500 Active 779-char remark

    Show marketing remark (779 chars)

    Welcome to the latest offering from the Detroit Land Bank Authority. 4 Bedroom colonial, located in the Islandview subdivision. Needs extensive rehab, please show with caution. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines

16. 2007-05-09
    historical
17. 2007-04-04
    listed $7,500
18. 2006-01-09
    soldstatus $65,000
19. 2001-11-02
    soldstatus $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: $240 · $20/mo
• Projected year-2 tax: $262 · $22/mo
• Expected delta: +$22/yr (+$2/mo · 9.4%)

ⓘ 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 · 15 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: $20,088
• − Mortgage interest: −$1,036
• − Property taxes: −$240
• − Insurance: −$92
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$538
• Taxable income: $14,967
• Est. tax owed @ 24.0%: −$3,592
• After-tax cash flow: $10,781/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): 18,595
• Household income: $33,544
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1364.0

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 (79%)
• Race & ethnicity: Black 79% White 16% Two or more races 4%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 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: ▼ -367.43%
• Current HPI: 102.0969
• Rent YoY: —
• 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

-63.0% since first listed

6 events — show timeline

• 2023-10-16 Listed $18,500 MiRealSource-MiMLS
• 2023-10-16 Listed $18,500 REALCOMP
• 2007-05-09 Listing Removed — REALCOMP
• 2007-04-04 Listed $7,500 REALCOMP
• 2006-01-09 Sold (Public Records) $65,000 Public Records
• 2001-11-02 Sold (Public Records) $50,000 Public Records

Property tax history

-16.8%/yr

Latest (2018): $240 · -51.7% YoY. Source: county tax records.