2009 Calvert St · Detroit, MI 48206

$62,000

6 bd · 3.0 ba · 3,452 sqft · Townhouse public records · 2 Days on market

Built 1923 4,792 sqft lot ↓ 21% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This character filled brick multifamily duplex offers two spacious 3-bed, 1-bath units, each with 1,652 sq ft of living space. Featuring a full basement and 2-car garage, the property has great potential but needs full renovation - perfect for investors or homeowners ready for a project. Located in the up-and-coming Dexter-Linwood area. The property is close to Boston-Edison, the Congregation, North End, Midtown, and Henry Ford Health. Quick access to the Lodge, I-94, and I-96

Key facts

• Full basement
• Quick access to i-94
• Quick access to i-96

Tags

• FULL BASEMENT
• QUICK ACCESS TO LODGE
• QUICK ACCESS TO I-94
• QUICK ACCESS TO I-96

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath townhouse listed at $62k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Cap rate 34.8% 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 15d 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 $2,406/mo this rent would consume 64% 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 $429 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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 $29k; list at $62k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.88% ✓
• Cap rate: 34.85%
• Cash-on-cash: 101.98%
• DSCR: 5.54
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.15×
• Total profit: $89,390
• Equity at exit: $9,244

10-year hold

• IRR: —
• Equity multiple: 13.81×
• Total profit: $222,329
• Equity at exit: $5,361

Cash invested: $17,360 (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: 2.1×

Monthly cashflow live

• Estimated rent: $2,406 medium
• Mortgage (P&I): −$325
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $1,475

Break-even live

Break-even rent $539

Max offer price $62,000

Occupancy floor 34%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	0.20mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	0.62mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	0.67mi
2509 Gladstone St Unit NA Detroit, MI	6.0	3.0	3008	$2,000	$0.66	10d	1	0.78mi

Listing history 21 events

1. 2025-12-17
   status Pending 481-char remark

   Show marketing remark (481 chars)

   This character filled brick multifamily duplex offers two spacious 3-bed, 1-bath units, each with 1,652 sq ft of living space. Featuring a full basement and 2-car garage, the property has great potential but needs full renovation - perfect for investors or homeowners ready for a project. Located in the up-and-coming Dexter-Linwood area. The property is close to Boston-Edison, the Congregation, North End, Midtown, and Henry Ford Health. Quick access to the Lodge, I-94, and I-96

2. 2025-12-17
   status Pending

   Show marketing remark (481 chars)

   This character filled brick multifamily duplex offers two spacious 3-bed, 1-bath units, each with 1,652 sq ft of living space. Featuring a full basement and 2-car garage, the property has great potential but needs full renovation - perfect for investors or homeowners ready for a project. Located in the up-and-coming Dexter-Linwood area. The property is close to Boston-Edison, the Congregation, North End, Midtown, and Henry Ford Health. Quick access to the Lodge, I-94, and I-96

3. 2025-12-15
   listed $62,000 Active

   Show marketing remark (481 chars)

   This character filled brick multifamily duplex offers two spacious 3-bed, 1-bath units, each with 1,652 sq ft of living space. Featuring a full basement and 2-car garage, the property has great potential but needs full renovation - perfect for investors or homeowners ready for a project. Located in the up-and-coming Dexter-Linwood area. The property is close to Boston-Edison, the Congregation, North End, Midtown, and Henry Ford Health. Quick access to the Lodge, I-94, and I-96

4. 2025-12-15
   listed $62,000 Active 481-char remark

   Show marketing remark (481 chars)

   This character filled brick multifamily duplex offers two spacious 3-bed, 1-bath units, each with 1,652 sq ft of living space. Featuring a full basement and 2-car garage, the property has great potential but needs full renovation - perfect for investors or homeowners ready for a project. Located in the up-and-coming Dexter-Linwood area. The property is close to Boston-Edison, the Congregation, North End, Midtown, and Henry Ford Health. Quick access to the Lodge, I-94, and I-96

5. 2025-09-25
   historical
6. 2025-09-25
   historical
7. 2025-08-25
   listed $79,000 Active
8. 2025-08-25
   listed $79,000 Active
9. 2025-08-25
   historical
10. 2025-08-25
    historical
11. 2025-07-29
    listed $90,000 Active
12. 2025-07-28
    listed $90,000 Active
13. 2013-02-28
    historical
14. 2012-12-30
    listed $3,500
15. 2012-03-12
    historical
16. 2011-12-26
    listed $17,000
17. 2006-12-28
    soldstatus $28,900
18. 2006-11-16
    historical
19. 2006-10-13
    listed $28,900
20. 2004-06-21
    soldstatus $90,000
21. 2002-11-12
    soldstatus $78,000

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $924 · $77/mo
• Expected delta: +$31/yr (+$3/mo · 3.4%)

ⓘ 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 ≥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: $28,871
• − Mortgage interest: −$3,473
• − Property taxes: −$893
• − Insurance: −$310
• − Repairs & maintenance: −$2,310
• − Management: −$2,310
• − Depreciation: −$1,804
• Taxable income: $17,772
• Est. tax owed @ 24.0%: −$4,265
• After-tax cash flow: $13,438/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

-20.5% since first listed

21 events — show timeline

• 2025-12-17 Pending — MiRealSource-MiMLS
• 2025-12-17 Pending — REALCOMP
• 2025-12-15 Listed $62,000 REALCOMP
• 2025-12-15 Listed $62,000 MiRealSource-MiMLS
• 2025-09-25 Listing Removed — MiRealSource-MiMLS
• 2025-09-25 Listing Removed — REALCOMP
• 2025-08-25 Listing Removed — REALCOMP
• 2025-08-25 Listing Removed — MiRealSource-MiMLS
• 2025-08-25 Listed $79,000 MiRealSource-MiMLS
• 2025-08-25 Listed $79,000 REALCOMP
• 2025-07-29 Listed $90,000 REALCOMP
• 2025-07-28 Listed $90,000 MiRealSource-MiMLS
• 2013-02-28 Listing Removed — MiRealSource-MiMLS
• 2012-12-30 Listed $3,500 MiRealSource-MiMLS
• 2012-03-12 Listing Removed — MiRealSource-MiMLS
• 2011-12-26 Listed $17,000 MiRealSource-MiMLS
• 2006-12-28 Sold (MLS) $28,900 MiRealSource-MiMLS
• 2006-11-16 Listing Removed — MiRealSource-MiMLS
• 2006-10-13 Listed $28,900 MiRealSource-MiMLS
• 2004-06-21 Sold (Public Records) $90,000 Public Records
• 2002-11-12 Sold (Public Records) $78,000 Public Records

Property tax history

-10.8%/yr

Latest (2025): $893 · -75.3% YoY. Source: county tax records.