6023 Cooper St · Detroit, MI 48213

$9,900

4 bd · 1.5 ba · 1,652 sqft · SingleFamily public records · 793 Days on market

Built 1922 3,920 sqft lot $6/sqft · 77% below area ↓ 21% since listing

---

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

Don't miss this great investment opportunity on this up and coming east side neighborhood, close to Gratiot and minutes from Downtown Detroit. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal ( not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. 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 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.

Key facts

• 3,920 sq ft lot
• Built 1922
• Listed 793 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $10k).
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.
• Cap rate 142.4% 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: 190 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,518/mo this rent would consume 54% of the median local household income ($34k/yr) (locally 1202% 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 $68 of loan paydown is wiped out by about $297 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 793 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $6k; list at $10k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $8,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 793 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 1922 — 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: 15.33% ✓
• Cap rate: 142.43%
• Cash-on-cash: 486.19%
• DSCR: 22.63
• GRM: 0.5

CMA / ARV

• ARV (median comp): $42,951
• List price: $9,900
• Delta: -76.95%
• 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
5815 & 5819 Cadillac Ave	0.19mi	4/2.0	1,774 (+7%)	9mo	$65,217	$37	70
5360 Burns St	0.60mi	4/1.0	1,664 (+1%)	4mo	$60,000	$36	65
5326 Belvidere St	0.45mi	4/1.5	1,469 (-11%)	5mo	$82,500	$56	56
5137 Saint Clair St	0.63mi	3/1.0 (-1)	1,728 (+5%)	3mo	$30,000	$17	54
5302 Crane St	0.56mi	5/2.0 (+1)	1,423 (-14%)	2mo	$107,000	$75	42
5968 Seneca St	0.50mi	5/2.0 (+1)	1,786 (+8%)	17mo	$120,000	$67	42
5239 Crane St	0.59mi	3/1.0 (-1)	1,404 (-15%)	4mo	$24,500	$17	37
5171 Burns St	0.67mi	3/1.0 (-1)	1,425 (-14%)	3mo	$20,000	$14	36
6015 Seminole St	0.64mi	3/1.5 (-1)	1,492 (-10%)	17mo	$32,000	$21	35
5950 Seminole St	0.61mi	4/1.0	1,424 (-14%)	17mo	$101,000	$71	32
6009 Seminole St	0.64mi	3/1.5 (-1)	1,863 (+13%)	17mo	$12,080	$6	30
9142 Isham Ave	0.63mi	3/1.0 (-1)	1,420 (-14%)	16mo	$38,000	$27	27

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: 26.24×
• Total profit: $69,954
• Equity at exit: $1,476

10-year hold

• IRR: —
• Equity multiple: 56.24×
• Total profit: $153,134
• Equity at exit: $856

Cash invested: $2,772 (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 48213

• Active inventory: 190
• Price-to-rent: 0.5×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$52
• Tax from tax record: −$20 /mo · $240/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $1,123

Break-even live

Break-even rent $96

Max offer price $9,900

Occupancy floor 21%

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: $2,475
• Closing costs: $297
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	0.39mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	0.44mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	17d	1	0.52mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	0.91mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	17d	1	1.01mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.02mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	1.03mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	43d	1	1.06mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	1.13mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	1.19mi
11806 Wilshire Dr Detroit, MI	4.0	3.0	2000	$1,600	$0.80	24d	1	1.33mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	43d	1	1.33mi
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	17d	1	1.37mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	1.45mi

Listing history 22 events

1. 2026-06-18
   days on market $9,900 Active 793 DOM
2. 2026-06-17
   days on market $9,900 Active 792 DOM
3. 2026-06-15
   days on market $9,900 Active 790 DOM
4. 2026-06-13
   days on market $9,900 Active 788 DOM
5. 2026-06-13
   days on market $9,900 Active 787 DOM
6. 2026-06-09
   days on market $9,900 Active 784 DOM
7. 2026-06-08
   days on market $9,900 Active 783 DOM
8. 2026-06-07
   days on market $9,900 Active 782 DOM
9. 2026-06-04
   days on market $9,900 Active 779 DOM
10. 2026-06-03
    days on market $9,900 Active 778 DOM
11. 2026-06-01
    days on market $9,900 Active 776 DOM
12. 2026-05-31
    days on market $9,900 Active 775 DOM
13. 2024-04-16
    historical

    Show marketing remark (1017 chars)

    Don't miss this great investment opportunity on this up and coming east side neighborhood, close to Gratiot and minutes from Downtown Detroit. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal ( not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. 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 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.

14. 2024-04-16
    listed $9,900 Active 1017-char remark

    Show marketing remark (1017 chars)

    Don't miss this great investment opportunity on this up and coming east side neighborhood, close to Gratiot and minutes from Downtown Detroit. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal ( not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. 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 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.

15. 2024-04-16
    listed $9,900 Active

    Show marketing remark (1017 chars)

    Don't miss this great investment opportunity on this up and coming east side neighborhood, close to Gratiot and minutes from Downtown Detroit. Sale contingent on buyer/seller executed development agreement. POF documentation MUST be presented with proposal ( not just stated in the proposal), development timelines and offer amounts MUST be included in the proposals. Renovation experience whether DLBA or not, MUST include addresses and BEFORE/AFTER photos. 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 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.

16. 2024-01-01
    historical
17. 2024-01-01
    historical
18. 2023-12-26
    listed $9,900 Active
19. 2023-09-05
    listed $9,900 Active
20. 2023-09-05
    listed $9,900 Active
21. 2006-09-20
    soldstatus $6,000
22. 2006-04-13
    listed $12,500

ⓘ 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: $240 · $20/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 ≥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: $18,215
• − Mortgage interest: −$555
• − Property taxes: −$240
• − Insurance: −$50
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$288
• Taxable income: $14,168
• Est. tax owed @ 24.0%: −$3,400
• After-tax cash flow: $10,077/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

-20.8% since first listed

10 events — show timeline

• 2024-04-16 Listed $9,900 MiRealSource-MiMLS
• 2024-04-16 Listed $9,900 REALCOMP
• 2024-04-16 Listing Removed — REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-12-26 Listed $9,900 REALCOMP
• 2023-09-05 Listed $9,900 MiRealSource-MiMLS
• 2023-09-05 Listed $9,900 REALCOMP
• 2006-09-20 Sold (MLS) $6,000 REALCOMP
• 2006-04-13 Listed $12,500 REALCOMP

Property tax history

+0.0%/yr

Latest (2016): $240 · +0.0% YoY. Source: county tax records.