6058 Harrell St · Detroit, MI 48213

$75,000

2 bd · 2.0 ba · 2,146 sqft · Townhouse public records · 67 Days on market

Built 1928 7,841 sqft lot

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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
• 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

Great investment opportunity! This solid brick multi-family property features 2 existing units with the potential to add a 3rd unit, making it an ideal value add for savvy investors. The property offers a functional layout and strong income potential with the right vision and updates. Included in the sale is an additional lot, providing even more opportunity for expansion, development, or added outdoor space. Cash only sale, being sold as-is.

Key facts

• Additional lot
• Functional layout
• 7,841 sq ft lot

Tags

• MULTI-FAMILY PROPERTY
• POTENTIAL TO ADD A 3RD UNIT
• FUNCTIONAL LAYOUT
• STRONG INCOME POTENTIAL
• ADDITIONAL LOT
• OPPORTUNITY FOR EXPANSION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: 190 active listings in the ZIP; 4 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 $1,344/mo this rent would consume 47% 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 $519 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 + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 14y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $75k implies a 275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. 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: 1.79% ✓
• Cap rate: 14.76%
• Cash-on-cash: 30.23%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 24.9%
• Equity multiple: 2.03×
• Total profit: $21,573
• Equity at exit: $11,183

10-year hold

• IRR: 32.7%
• Equity multiple: 3.97×
• Total profit: $62,294
• Equity at exit: $6,485

Cash invested: $21,000 (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 48213

• Active inventory: 190
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,344 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$108 /mo · $1,294/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $529

Break-even live

Break-even rent $674

Max offer price $75,000

Occupancy floor 56%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8205 E Outer Dr Detroit, MI	3.0	1.5	1874	$1,400	$0.75	17d	1	0.87mi
11171 Charlemagne Ave Unit A Detroit, MI	3.0	1.0	1598	$1,200	$0.75	43d	1	1.07mi
4510 Harding St Detroit, MI	3.0	1.0	2394	$1,500	$0.63	17d	1	1.18mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.46mi

Listing history 22 events

1. 2026-04-28
   price $75,000 446-char remark

   Show marketing remark (446 chars)

   Great investment opportunity! This solid brick multi-family property features 2 existing units with the potential to add a 3rd unit, making it an ideal value add for savvy investors. The property offers a functional layout and strong income potential with the right vision and updates. Included in the sale is an additional lot, providing even more opportunity for expansion, development, or added outdoor space. Cash only sale, being sold as-is.

2. 2026-04-27
   price $75,000 446-char remark

   Show marketing remark (446 chars)

   Great investment opportunity! This solid brick multi-family property features 2 existing units with the potential to add a 3rd unit, making it an ideal value add for savvy investors. The property offers a functional layout and strong income potential with the right vision and updates. Included in the sale is an additional lot, providing even more opportunity for expansion, development, or added outdoor space. Cash only sale, being sold as-is.

3. 2026-03-20
   listed $85,000 Active 446-char remark

   Show marketing remark (446 chars)

   Great investment opportunity! This solid brick multi-family property features 2 existing units with the potential to add a 3rd unit, making it an ideal value add for savvy investors. The property offers a functional layout and strong income potential with the right vision and updates. Included in the sale is an additional lot, providing even more opportunity for expansion, development, or added outdoor space. Cash only sale, being sold as-is.

4. 2026-03-20
   listed $85,000 Active 446-char remark

   Show marketing remark (446 chars)

   Great investment opportunity! This solid brick multi-family property features 2 existing units with the potential to add a 3rd unit, making it an ideal value add for savvy investors. The property offers a functional layout and strong income potential with the right vision and updates. Included in the sale is an additional lot, providing even more opportunity for expansion, development, or added outdoor space. Cash only sale, being sold as-is.

5. 2024-09-04
   historical
6. 2024-09-04
   historical
7. 2024-09-03
   status Active
8. 2024-09-03
   status Active
9. 2024-08-30
   historical Accepting Backup Offers
10. 2024-08-30
    historical Accepting Backup Offers
11. 2024-06-15
    price $78,000
12. 2024-06-14
    price $78,000
13. 2024-05-30
    listed $80,000 Active
14. 2024-05-30
    listed $80,000 Active
15. 2015-05-08
    historical
16. 2015-05-05
    historical
17. 2015-03-20
    price $25,000
18. 2015-02-18
    listed $30,000 Active
19. 2015-02-18
    listed $25,000
20. 2012-08-22
    historical
21. 2012-03-20
    listed $19,000
22. 1998-08-01
    soldstatus $20,000

ⓘ 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: $1,294 · $108/mo
• Projected year-2 tax: $1,294 · $108/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 14 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: $16,124
• − Mortgage interest: −$4,201
• − Property taxes: −$1,294
• − Insurance: −$375
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$2,182
• Taxable income: $5,492
• Est. tax owed @ 24.0%: −$1,318
• After-tax cash flow: $5,031/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

+275.0% since first listed

22 events — show timeline

• 2026-04-28 Price Changed $75,000 MiRealSource-MiMLS
• 2026-04-27 Price Changed $75,000 REALCOMP
• 2026-03-20 Listed $85,000 REALCOMP
• 2026-03-20 Listed $85,000 MiRealSource-MiMLS
• 2024-09-04 Listing Removed — REALCOMP
• 2024-09-04 Listing Removed — MiRealSource-MiMLS
• 2024-09-03 Relisted — REALCOMP
• 2024-09-03 Relisted — MiRealSource-MiMLS
• 2024-08-30 Contingent — MiRealSource-MiMLS
• 2024-08-30 Contingent — REALCOMP
• 2024-06-15 Price Changed $78,000 MiRealSource-MiMLS
• 2024-06-14 Price Changed $78,000 REALCOMP
• 2024-05-30 Listed $80,000 REALCOMP
• 2024-05-30 Listed $80,000 MiRealSource-MiMLS
• 2015-05-08 Listing Removed — MiRealSource-MiMLS
• 2015-05-05 Listing Removed — REALCOMP
• 2015-03-20 Price Changed $25,000 REALCOMP
• 2015-02-18 Listed $30,000 REALCOMP
• 2015-02-18 Listed $25,000 MiRealSource-MiMLS
• 2012-08-22 Listing Removed — MiRealSource-MiMLS
• 2012-03-20 Listed $19,000 MiRealSource-MiMLS
• 1998-08-01 Sold (Public Records) $20,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,294 · -48.8% YoY. Source: county tax records.