16140 Kentucky St · Detroit, MI 48221

$50,000

8 bd · 2.0 ba · 2,246 sqft · Townhouse public records · 25 Days on market

Built 1928 3,920 sqft lot $22/sqft · 33% below area Est $75k · 33% under ↓ 44% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

######CALLING FOR HIGHEST & BEST OFFERS DUE BY TUESDAY 5/26/2026 AT 10:00 A. M. ###### Investor opportunity in Detroit's historic Bagley neighborhood. This classic brick 2-family flat offers approximately 2,246 sq ft with a 3-bedroom, 1-bath lower unit and a 2-bedroom, 1-bath upper unit. Located directly next to the Marygrove Arboretum Conifer Forest and near Huntington Park, the property offers a unique setting within an established residential neighborhood. The solid brick exterior and spacious layout provide strong value-add potential for investors or rehabbers. Sold AS IS. Cash only. Renovated properties in the area have reportedly supported resale activity ranging from approximately $140,000 to $180,000+, depending on renovations and market conditions. Ideal for fix-and-flip, BRRRR, or long-term rental investment. Convenient access to Marygrove Conservancy, University District, major roads, shopping, dining, and neighborhood amenities. Buyer to verify all information, measurements, and future market value.

Key facts

• University district
• Solid brick exterior
• Spacious layout

Tags

• HISTORIC BAGLEY NEIGHBORHOOD
• SOLID BRICK EXTERIOR
• SPACIOUS LAYOUT
• MARYGROVE CONSERVANCY
• UNIVERSITY DISTRICT
• NEIGHBORHOOD AMENITIES

Property features AI

Finance

• Financial info: Annual tax listed (amount provided)

Exterior

• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Two-story multi-family residential income property; Situated on a 0.09-acre lot (approx. 35 x 114)
• Construction: Built with asphalt construction materials; Brick/mortar foundation
• Exterior features: Paved road access; Pets allowed (contact for details)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating (natural gas); No central air conditioning
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 8-bed/2.0-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: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 34.0% 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 (+3.4%/yr); 349 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 39% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 3.4% 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 25 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 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: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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: 3.79% ✓
• Cap rate: 33.96%
• Cash-on-cash: 98.80%
• DSCR: 5.40
• GRM: 2.2

CMA / ARV

• ARV (median comp): $74,893
• List price: $50,000
• Delta: -33.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.73×
• Total profit: $66,185
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 12.13×
• Total profit: $155,773
• 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 48221

• Rents YoY: 3.4%
• Active inventory: 349
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,896 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $1,153

Break-even live

Break-even rent $437

Max offer price $50,000

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

Listing history 12 events

1. 2026-06-10
   status $50,000 Pending 25 DOM
2. 2026-06-09
   days on market $50,000 Active Under Contract 25 DOM

   Show marketing remark (1032 chars)

   ######CALLING FOR HIGHEST & BEST OFFERS DUE BY TUESDAY 5/26/2026 AT 10:00 A. M. ###### Investor opportunity in Detroit's historic Bagley neighborhood. This classic brick 2-family flat offers approximately 2,246 sq ft with a 3-bedroom, 1-bath lower unit and a 2-bedroom, 1-bath upper unit. Located directly next to the Marygrove Arboretum Conifer Forest and near Huntington Park, the property offers a unique setting within an established residential neighborhood. The solid brick exterior and spacious layout provide strong value-add potential for investors or rehabbers. Sold AS IS. Cash only. Renovated properties in the area have reportedly supported resale activity ranging from approximately $140,000 to $180,000+, depending on renovations and market conditions. Ideal for fix-and-flip, BRRRR, or long-term rental investment. Convenient access to Marygrove Conservancy, University District, major roads, shopping, dining, and neighborhood amenities. Buyer to verify all information, measurements, and future market value.

3. 2026-06-08
   days on market $50,000 Active Under Contract 24 DOM
4. 2026-06-07
   days on market $50,000 Active Under Contract 23 DOM
5. 2026-06-04
   days on market $50,000 Active Under Contract 20 DOM
6. 2026-06-03
   days on market $50,000 Active Under Contract 19 DOM
7. 2026-06-02
   days on market $50,000 Active Under Contract 18 DOM
8. 2026-06-01
   days on market $50,000 Active Under Contract 17 DOM
9. 2026-05-31
   days on market $50,000 Active Under Contract 16 DOM
10. 2026-05-15
    listed $50,000 Active 945-char remark

    Show marketing remark (1032 chars)

    ######CALLING FOR HIGHEST & BEST OFFERS DUE BY TUESDAY 5/26/2026 AT 10:00 A. M. ###### Investor opportunity in Detroit's historic Bagley neighborhood. This classic brick 2-family flat offers approximately 2,246 sq ft with a 3-bedroom, 1-bath lower unit and a 2-bedroom, 1-bath upper unit. Located directly next to the Marygrove Arboretum Conifer Forest and near Huntington Park, the property offers a unique setting within an established residential neighborhood. The solid brick exterior and spacious layout provide strong value-add potential for investors or rehabbers. Sold AS IS. Cash only. Renovated properties in the area have reportedly supported resale activity ranging from approximately $140,000 to $180,000+, depending on renovations and market conditions. Ideal for fix-and-flip, BRRRR, or long-term rental investment. Convenient access to Marygrove Conservancy, University District, major roads, shopping, dining, and neighborhood amenities. Buyer to verify all information, measurements, and future market value.

11. 2026-05-15
    listed $50,000 Active 939-char remark

    Show marketing remark (1032 chars)

    ######CALLING FOR HIGHEST & BEST OFFERS DUE BY TUESDAY 5/26/2026 AT 10:00 A. M. ###### Investor opportunity in Detroit's historic Bagley neighborhood. This classic brick 2-family flat offers approximately 2,246 sq ft with a 3-bedroom, 1-bath lower unit and a 2-bedroom, 1-bath upper unit. Located directly next to the Marygrove Arboretum Conifer Forest and near Huntington Park, the property offers a unique setting within an established residential neighborhood. The solid brick exterior and spacious layout provide strong value-add potential for investors or rehabbers. Sold AS IS. Cash only. Renovated properties in the area have reportedly supported resale activity ranging from approximately $140,000 to $180,000+, depending on renovations and market conditions. Ideal for fix-and-flip, BRRRR, or long-term rental investment. Convenient access to Marygrove Conservancy, University District, major roads, shopping, dining, and neighborhood amenities. Buyer to verify all information, measurements, and future market value.

12. 2019-07-17
    soldstatus $89,900

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,758
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$1,455
• Taxable income: $13,861
• Est. tax owed @ 24.0%: −$3,327
• After-tax cash flow: $10,505/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): 41,392
• Household income: $57,878
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1646.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 4% Asian 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -433.14%
• Current HPI: 280.5434
• Rent YoY: ▲ 3.44%
• 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

-44.4% since first listed

7 events — show timeline

• 2026-06-09 Pending — MiRealSource-MiMLS
• 2026-06-09 Pending — REALCOMP
• 2026-05-28 Contingent — MiRealSource-MiMLS
• 2026-05-28 Contingent — REALCOMP
• 2026-05-15 Listed $50,000 REALCOMP
• 2026-05-15 Listed $50,000 MiRealSource-MiMLS
• 2019-07-17 Sold (Public Records) $89,900 Public Records

Property tax history

+8.7%/yr

Latest (2025): $5,261 · +6.0% YoY. Source: county tax records.