1523 E Nevada St · Detroit, MI 48234

$45,000

4 bd · 1.0 ba · 1,255 sqft · SingleFamily public records · 37 Days on market

Built 1925 3,485 sqft lot $36/sqft · at area comps Est $44k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.6/15.0
• Rent growth +4.2/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors and rehabbers -- priced to move and loaded with upside potential. This Detroit home is a true full rehab opportunity ideal for fix-and-flip investors, BRRRR strategies, or long-term rental portfolio expansion. Property offers a spacious layout, basement, large lot, private driveway, and strong value-add potential for the right buyer ready to bring their vision and renovation expertise. Sold as-is and priced aggressively for condition. Investor opportunities at this price point with this level of upside are becoming increasingly difficult to find. Seller is motivated and looking for a smooth, straightforward transaction. Cash or renovation financing preferred. Buyer to verify all information and measurements.

Key facts

• 3,485 sq ft lot
• Built 1925
• Listed 37 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence (residential property); Built in 1925
• Construction: Vinyl siding construction; 1,255 square feet living area
• Exterior features: Public water

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 10 total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.1% vs local median 10.1% 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 (+6.7%/yr); 227 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,405/mo this rent would consume 48% of the median local household income ($35k/yr) (locally 2372% 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 $311 of loan paydown is wiped out by about $1k 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 + 6.7% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.12% ✓
• Cap rate: 24.14%
• Cash-on-cash: 63.75%
• DSCR: 3.84
• GRM: 2.7

CMA / ARV

• ARV (median comp): $44,114
• List price: $45,000
• Delta: 2.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18101 Marx St	0.23mi	3/1.5 (-1)	1,291 (+3%)	2mo	$37,500	$29	76
18051 Orleans St	0.15mi	4/2.0	1,300 (+4%)	9mo	$39,000	$30	75
18532 Riopelle St	0.25mi	3/1.0 (-1)	1,248 (-1%)	9mo	$64,000	$51	75
18057 Fleming st St	0.46mi	4/2.0	1,250 (-0%)	7mo	$127,000	$102	68
17520 Goddard Street St	0.55mi	4/2.0	1,302 (+4%)	3mo	$54,900	$42	62
17421 Oakland St	0.46mi	5/1.5 (+1)	1,269 (+1%)	10mo	$66,000	$52	62
17496 Saint Aubin St	0.41mi	4/1.5	1,377 (+10%)	5mo	$25,000	$18	58
19181 Marx St	0.63mi	3/1.0 (-1)	1,152 (-8%)	1mo	$40,500	$35	51
19145 Riopelle St	0.57mi	3/2.0 (-1)	1,152 (-8%)	2mo	$80,000	$69	49
17138 Marx St	0.50mi	3/1.0 (-1)	1,089 (-13%)	2mo	$26,500	$24	48
17489 Saint Aubin St	0.39mi	3/1.0 (-1)	1,072 (-15%)	6mo	$70,000	$65	47
18025 Brinker St	0.73mi	4/2.0	1,416 (+13%)	10mo	$40,000	$28	32

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 · 6.72% rent growth · sell at horizon

5-year hold

• IRR: 67.6%
• Equity multiple: 4.25×
• Total profit: $40,899
• Equity at exit: $6,710

10-year hold

• IRR: 73.1%
• Equity multiple: 10.13×
• Total profit: $115,092
• Equity at exit: $3,891

Cash invested: $12,600 (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 48234

• Home prices YoY: -11.9%
• Rents YoY: 6.7%
• Active inventory: 227
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,405 high
• Mortgage (P&I): −$236
• Tax from tax record: −$186 /mo · $2,230/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $669

Break-even live

Break-even rent $558

Max offer price $45,000

Occupancy floor 47%

Sensitivity live

Price	-10% $830	-5% $815	+0% $669	+5% $657	+10% $644
Rent	-10% $558	-5% $614	+0% $669	+5% $725	+10% $780
Rate	-1.0pp $692	-0.5pp $681	base $669	+0.5pp $658	+1.0pp $646

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	6d	1	0.24mi
18551 Saint Aubin St Detroit, MI	3.0	1.0	962	$1,200	$1.25	17d	1	0.42mi
18629 Fleming St Detroit, MI	3.0	1.5	900	$1,150	$1.28	25d	1	0.56mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.69mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.84mi
18666 Joseph Campau St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	17d	1	0.87mi
20008 Hull St Highland Park, MI	5.0	2.0	1332	$1,600	$1.20	17d	1	1.14mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.15mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	1.18mi
18557 Wexford St Detroit, MI	3.0	1.0	1216	$1,250	$1.03	25d	1	1.19mi
19995 Goddard St Detroit, MI	4.0	1.0	1292	$1,400	$1.08	22d	1	1.27mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	25d	1	1.29mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	1.34mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.38mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	1.41mi

Listing history 19 events

1. 2026-06-21
   days on market $45,000 Active 37 DOM
2. 2026-06-18
   days on market $45,000 Active 34 DOM
3. 2026-06-17
   days on market $45,000 Active 33 DOM
4. 2026-06-15
   days on market $45,000 Active 31 DOM
5. 2026-06-13
   days on market $45,000 Active 29 DOM
6. 2026-06-13
   days on market $45,000 Active 28 DOM
7. 2026-06-09
   days on market $45,000 Active 25 DOM
8. 2026-06-08
   days on market $45,000 Active 24 DOM
9. 2026-06-07
   days on market $45,000 Active 23 DOM
10. 2026-06-04
    days on market $45,000 Active 20 DOM
11. 2026-06-03
    days on market $45,000 Active 19 DOM
12. 2026-06-02
    days on market $45,000 Active 18 DOM
13. 2026-06-01
    days on market $45,000 Active 17 DOM
14. 2026-05-31
    days on market $45,000 Active 16 DOM
15. 2026-05-15
    listed $45,000 Active 737-char remark

    Show marketing remark (737 chars)

    Attention investors and rehabbers -- priced to move and loaded with upside potential. This Detroit home is a true full rehab opportunity ideal for fix-and-flip investors, BRRRR strategies, or long-term rental portfolio expansion. Property offers a spacious layout, basement, large lot, private driveway, and strong value-add potential for the right buyer ready to bring their vision and renovation expertise. Sold as-is and priced aggressively for condition. Investor opportunities at this price point with this level of upside are becoming increasingly difficult to find. Seller is motivated and looking for a smooth, straightforward transaction. Cash or renovation financing preferred. Buyer to verify all information and measurements.

16. 2026-05-15
    listed $45,000 Active 739-char remark

    Show marketing remark (737 chars)

    Attention investors and rehabbers -- priced to move and loaded with upside potential. This Detroit home is a true full rehab opportunity ideal for fix-and-flip investors, BRRRR strategies, or long-term rental portfolio expansion. Property offers a spacious layout, basement, large lot, private driveway, and strong value-add potential for the right buyer ready to bring their vision and renovation expertise. Sold as-is and priced aggressively for condition. Investor opportunities at this price point with this level of upside are becoming increasingly difficult to find. Seller is motivated and looking for a smooth, straightforward transaction. Cash or renovation financing preferred. Buyer to verify all information and measurements.

17. 2026-05-15
    listed $45,000 Active

    Show marketing remark (737 chars)

    Attention investors and rehabbers -- priced to move and loaded with upside potential. This Detroit home is a true full rehab opportunity ideal for fix-and-flip investors, BRRRR strategies, or long-term rental portfolio expansion. Property offers a spacious layout, basement, large lot, private driveway, and strong value-add potential for the right buyer ready to bring their vision and renovation expertise. Sold as-is and priced aggressively for condition. Investor opportunities at this price point with this level of upside are becoming increasingly difficult to find. Seller is motivated and looking for a smooth, straightforward transaction. Cash or renovation financing preferred. Buyer to verify all information and measurements.

18. 2026-05-14
    historical $45,000

    Show marketing remark (737 chars)

    Attention investors and rehabbers -- priced to move and loaded with upside potential. This Detroit home is a true full rehab opportunity ideal for fix-and-flip investors, BRRRR strategies, or long-term rental portfolio expansion. Property offers a spacious layout, basement, large lot, private driveway, and strong value-add potential for the right buyer ready to bring their vision and renovation expertise. Sold as-is and priced aggressively for condition. Investor opportunities at this price point with this level of upside are becoming increasingly difficult to find. Seller is motivated and looking for a smooth, straightforward transaction. Cash or renovation financing preferred. Buyer to verify all information and measurements.

19. 2026-05-14
    historical $45,000 739-char remark

    Show marketing remark (737 chars)

    Attention investors and rehabbers -- priced to move and loaded with upside potential. This Detroit home is a true full rehab opportunity ideal for fix-and-flip investors, BRRRR strategies, or long-term rental portfolio expansion. Property offers a spacious layout, basement, large lot, private driveway, and strong value-add potential for the right buyer ready to bring their vision and renovation expertise. Sold as-is and priced aggressively for condition. Investor opportunities at this price point with this level of upside are becoming increasingly difficult to find. Seller is motivated and looking for a smooth, straightforward transaction. Cash or renovation financing preferred. Buyer to verify all information and measurements.

ⓘ 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: $2,230 · $186/mo
• Projected year-2 tax: $2,230 · $186/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 ≥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: $16,860
• − Mortgage interest: −$2,521
• − Property taxes: −$2,230
• − Insurance: −$225
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$1,309
• Taxable income: $7,878
• Est. tax owed @ 24.0%: −$1,891
• After-tax cash flow: $6,142/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): 32,760
• Household income: $35,322
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 2372.0

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 (94%)
• Race & ethnicity: Black 94% White 3% Two or more races 1%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada, Vietnam, Philippines
• Languages at home: 97% English-only · French/Haitian/Cajun 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: ▼ -44.65%
• Current HPI: 328.8978
• Rent YoY: ▲ 6.72%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-15 Listed $45,000 REALCOMP
• 2026-05-15 Listed $45,000 SW Michigan MLS
• 2026-05-15 Listed $45,000 MiRealSource-MiMLS
• 2026-05-14 Coming Soon $45,000 MiRealSource-MiMLS
• 2026-05-14 Coming Soon $45,000 SW Michigan MLS

Property tax history

+9.4%/yr

Latest (2025): $2,230 · +1.0% YoY. Source: county tax records.