2317 La Belle St · Detroit, MI 48238

$40,000

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 4 Days on market

Built 1925 3,485 sqft lot Est $38k · 5% over ↓ 42% 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 +5.2/15.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

* * OPPORTUNITY * * Three bedroom bungalow right off the expressway! Priced for a quick sale - Great rental opportunity! The current occupant is a house sitter. Property will be provided vacant and cleaned out at closing. Clear title with warranty deed and title insurance. Buyer to verify all information, taxes, room sizes, etc. Buyer to pay 495 compliance to list office.

Key facts

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

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Vinyl siding exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.08 acres (35 x 100)

Interior

• Bedrooms: 3 total rooms (includes bedrooms and living space)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No air conditioning
• Interior features: Full unfinished basement; Awning(s); Front porch

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $594 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 24.1% 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 (+6.1%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 43% of the median local income ($33k/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 $277 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 + 6.1% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.97% ✓
• Cap rate: 24.12%
• Cash-on-cash: 63.68%
• DSCR: 3.83
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $38,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2505 La Belle St	0.16mi	3/1.0	1,027 (-6%)	2mo	$25,000	$24	82
2474 Sturtevant St	0.66mi	3/1.0	1,092 (+0%)	4mo	$28,000	$26	65
15560 La Salle Blvd	0.62mi	3/1.0	1,022 (-6%)	1mo	$35,000	$34	60
2268 Highland St	0.71mi	3/1.0	1,163 (+7%)	0mo	$10,000	$9	55
15834 Baylis St	0.74mi	3/1.0	1,065 (-2%)	10mo	$111,500	$105	54
15512 Log Cabin St	0.54mi	3/1.5	1,122 (+3%)	19mo	$17,000	$15	52
15532 Baylis St	0.58mi	3/1.0	968 (-11%)	12mo	$33,500	$35	45
15768 Wabash St	0.74mi	3/1.0	1,000 (-8%)	15mo	$30,000	$30	39
15611 Baylis St	0.66mi	3/1.0	968 (-11%)	15mo	$38,500	$40	39
1931 Pilgrim St	0.66mi	3/1.0	931 (-14%)	13mo	$65,000	$70	34
2075 Ewald Cir	0.63mi	2/1.0 (-1)	949 (-13%)	19mo	$70,000	$74	29
2081 Ewald Cir	0.64mi	2/1.0 (-1)	957 (-12%)	20mo	$65,000	$68	29

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 66.6%
• Equity multiple: 4.15×
• Total profit: $35,311
• Equity at exit: $5,964

10-year hold

• IRR: 71.9%
• Equity multiple: 9.63×
• Total profit: $96,710
• Equity at exit: $3,458

Cash invested: $11,200 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,190 high
• Mortgage (P&I): −$210
• Tax from tax record: −$119 /mo · $1,430/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $594

Break-even live

Break-even rent $437

Max offer price $40,000

Occupancy floor 45%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	44d	1	0.15mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	11d	1	0.18mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	0.29mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	0.29mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	0.60mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	5d	1	0.61mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	0.71mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	24d	1	0.73mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	17d	1	0.78mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.83mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	17d	1	0.87mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	0.87mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.92mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	0.94mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	0.95mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	24d	1	0.96mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	44d	1	0.96mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	0.98mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	24d	1	1.01mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	1.02mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	1.02mi
3224 Monterey St Unit 2E Detroit, MI	2.0	1.0	1200	$1,350	$1.12	44d	1	1.02mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	44d	1	1.09mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.11mi
127 W Buena Vista St Unit 129 Highland Park, MI	2.0	1.0	800	$1,000	$1.25	44d	1	1.11mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	2d	1	1.19mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	1.22mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	1.22mi
2690 Ewald Cir Detroit, MI	1.0–2.0	1.0	750	$900	$1.20	24d	4	1.26mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	1.26mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	44d	1	1.30mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	1.31mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	44d	1	1.32mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.34mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	44d	1	1.35mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	1.36mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	1.36mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	1.38mi
7350 Globe St Detroit, MI	3.0	1.0	1000	$1,550	$1.55	3d	1	1.40mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	44d	1	1.41mi

Listing history 5 events

1. 2026-06-18
   days on market $40,000 Active 4 DOM
2. 2026-06-17
   days on market $40,000 Active 3 DOM
3. 2026-06-16
   days on market $40,000 Active 2 DOM
4. 2026-06-15
   remarks 377-char remark
5. 2026-06-15
   listed $40,000 Active 1 DOM

ⓘ 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: $1,430 · $119/mo
• Projected year-2 tax: $1,430 · $119/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: $14,277
• − Mortgage interest: −$2,241
• − Property taxes: −$1,430
• − Insurance: −$200
• − Repairs & maintenance: −$1,142
• − Management: −$1,142
• − Depreciation: −$1,164
• Taxable income: $6,959
• Est. tax owed @ 24.0%: −$1,670
• After-tax cash flow: $5,462/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-41.6% since first listed

6 events — show timeline

• 2026-06-15 Listed $40,000 REALCOMP
• 2013-05-30 Listing Removed — REALCOMP
• 2013-05-30 Listing Removed — MiRealSource-MiMLS
• 2013-03-27 Listed $2,500 REALCOMP
• 2013-03-27 Listed $2,500 MiRealSource-MiMLS
• 2006-07-21 Sold (Public Records) $68,500 Public Records

Property tax history

+15.4%/yr

Latest (2025): $1,430 · +0.2% YoY. Source: county tax records.