2414 Concord St · Detroit, MI 48207

$399,000

5 bd · 3.0 ba · 3,004 sqft · MultiFamily public records · 9 Days on market

Built 1911 3,920 sqft lot

---

Why this score? — see what drove the D 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 +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• DSCR +3.8/10.0
• Livability +3.7/5.0
• Appreciation +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Two designer units. One VERY smart move. Intentionally reimagined by FIVE 17 STUDIO, this two-unit residence is perfectly poised in the heart of Detroit's Islandview neighborhood, just moments to West Village, Belle Isle, Little Village, shopping, and restaurants. Taken down to the studs, this property lives like brand-new construction - without the wait. Each unit spans approximately 1,500 square feet and delivers a clean, design-forward aesthetic that feels far more elevated than anything else you will see at this price point. Think crisp finishes, modern flow, and spaces that actually make sense for how people live today. The upper unit offers three true bedrooms with one and a half baths, while the lower features two with one full bath (both have in unit laundry) - ideal for strong rental income, multi-generational living, or an owner-occupant looking to offset their mortgage in a meaningful way. And here's the part that matters: two fully renovated, high-design units in one of Detroit's most watched neighborhoods - for just $399,000. Opportunities like this don't sit. They get recognized. If you've been waiting for something that feels intentional, well-executed with quality, and positioned for both lifestyle and return - this is it. Don't miss this this one!

Key facts

• High-design units
• Fully renovated
• In unit laundry

Tags

• IN UNIT LAUNDRY
• FULLY RENOVATED
• HIGH-DESIGN UNITS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property; Two-story building
• Construction: Vinyl siding and wood siding; Brick/mortar foundation; Asphalt roof; Built area above grade: 2,810
• Exterior features: Covered porch; Paved road access; Pets allowed

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms and one half bathroom (total for property)
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; Laundry room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $-34 ($-414/yr) — negative.
• To cash-flow at today's rent, offer at most $393k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $375k (6.0% below list).
• Recommended offer: $375k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Bunche Preparatory Academy (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 401 students, 93% FRL); Southeastern High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 644 students, 87% FRL) — zoned schools at 90% FRL track the district average.
• Market conditions: Rents rising (+3.5%/yr); 245 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $3,751/mo this rent would consume 94% of the median local household income ($48k/yr) (locally 2017% 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 (-2.8%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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 $80k; list at $399k implies a 399% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $375,100 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $81,108
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3021 Sheridan St	0.42mi	6/2.5 (+1)	2,986 (-1%)	12mo	$20,500	$7	63
2977 Canton St	0.24mi	6/2.0 (+1)	2,730 (-9%)	5mo	$230,000	$84	60
3631 Helen St	0.53mi	5/2.0	2,860 (-5%)	16mo	$85,000	$30	50
3688 Concord St	0.58mi	6/2.5 (+1)	2,566 (-15%)	4mo	$67,000	$26	38
3962 Helen St	0.74mi	6/2.5 (+1)	2,600 (-13%)	6mo	$35,000	$13	31
3665 Canton St	0.55mi	6/2.0 (+1)	2,606 (-13%)	17mo	$70,000	$27	29
8022 Kercheval St	0.66mi	4/2.0 (-1)	2,580 (-14%)	19mo	$149,000	$58	21

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.79% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.45×
• Total profit: $-61,138
• Equity at exit: $63,212

10-year hold

• IRR: -5.7%
• Equity multiple: 0.61×
• Total profit: $-43,901
• Equity at exit: $40,921

Cash invested: $111,720 (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 48207

• Home prices YoY: -2.0%
• Rents YoY: 3.5%
• Active inventory: 245
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $3,751 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$739 /mo · $8,869/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $-34

Break-even live

Break-even rent $3,795

Max offer price $392,913

Occupancy floor 96%

Sensitivity live

Price	-10% $191	-5% $78	+0% $-34	+5% $-147	+10% $-260
Rent	-10% $-331	-5% $-183	+0% $-34	+5% $114	+10% $262
Rate	-1.0pp $166	-0.5pp $67	base $-34	+0.5pp $-138	+1.0pp $-243

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,936
1× unit	2	1	$1,815
Total (2 units)			$3,751

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1738 Canton St Unit 1 Detroit, MI	4.0	1.0	2244	$1,650	$0.74	45d	1	0.31mi
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	45d	1	0.53mi

Listing history 9 events

1. 2026-05-19
   listed $399,000 Active

   Show marketing remark (1284 chars)

   Two designer units. One VERY smart move. Intentionally reimagined by FIVE 17 STUDIO, this two-unit residence is perfectly poised in the heart of Detroit's Islandview neighborhood, just moments to West Village, Belle Isle, Little Village, shopping, and restaurants. Taken down to the studs, this property lives like brand-new construction - without the wait. Each unit spans approximately 1,500 square feet and delivers a clean, design-forward aesthetic that feels far more elevated than anything else you will see at this price point. Think crisp finishes, modern flow, and spaces that actually make sense for how people live today. The upper unit offers three true bedrooms with one and a half baths, while the lower features two with one full bath (both have in unit laundry) - ideal for strong rental income, multi-generational living, or an owner-occupant looking to offset their mortgage in a meaningful way. And here's the part that matters: two fully renovated, high-design units in one of Detroit's most watched neighborhoods - for just $399,000. Opportunities like this don't sit. They get recognized. If you've been waiting for something that feels intentional, well-executed with quality, and positioned for both lifestyle and return - this is it. Don't miss this this one!

2. 2026-05-19
   listed $399,000 Active 1284-char remark

   Show marketing remark (1284 chars)

   Two designer units. One VERY smart move. Intentionally reimagined by FIVE 17 STUDIO, this two-unit residence is perfectly poised in the heart of Detroit's Islandview neighborhood, just moments to West Village, Belle Isle, Little Village, shopping, and restaurants. Taken down to the studs, this property lives like brand-new construction - without the wait. Each unit spans approximately 1,500 square feet and delivers a clean, design-forward aesthetic that feels far more elevated than anything else you will see at this price point. Think crisp finishes, modern flow, and spaces that actually make sense for how people live today. The upper unit offers three true bedrooms with one and a half baths, while the lower features two with one full bath (both have in unit laundry) - ideal for strong rental income, multi-generational living, or an owner-occupant looking to offset their mortgage in a meaningful way. And here's the part that matters: two fully renovated, high-design units in one of Detroit's most watched neighborhoods - for just $399,000. Opportunities like this don't sit. They get recognized. If you've been waiting for something that feels intentional, well-executed with quality, and positioned for both lifestyle and return - this is it. Don't miss this this one!

3. 2024-06-11
   soldstatus $80,000
4. 2024-06-07
   soldstatus $80,000 Sold 271-char remark

   Show marketing remark (271 chars)

   2414 Concord is a two-unit building in the Islandview neighborhood of Detroit, adjacent to West Village, Indian Village and nearby Belle Isle. Each unit is roughly 1,500 square feet with a five-bedroom, one-bathroom upper unit and a four-bedroom, one-bathroom lower unit.

5. 2024-06-07
   soldstatus $80,000 Closed

   Show marketing remark (271 chars)

   2414 Concord is a two-unit building in the Islandview neighborhood of Detroit, adjacent to West Village, Indian Village and nearby Belle Isle. Each unit is roughly 1,500 square feet with a five-bedroom, one-bathroom upper unit and a four-bedroom, one-bathroom lower unit.

6. 2024-05-24
   status Pending

   Show marketing remark (271 chars)

   2414 Concord is a two-unit building in the Islandview neighborhood of Detroit, adjacent to West Village, Indian Village and nearby Belle Isle. Each unit is roughly 1,500 square feet with a five-bedroom, one-bathroom upper unit and a four-bedroom, one-bathroom lower unit.

7. 2024-05-24
   status Pending 271-char remark

   Show marketing remark (271 chars)

   2414 Concord is a two-unit building in the Islandview neighborhood of Detroit, adjacent to West Village, Indian Village and nearby Belle Isle. Each unit is roughly 1,500 square feet with a five-bedroom, one-bathroom upper unit and a four-bedroom, one-bathroom lower unit.

8. 2024-04-29
   listed $75,000 Active 271-char remark

   Show marketing remark (271 chars)

   2414 Concord is a two-unit building in the Islandview neighborhood of Detroit, adjacent to West Village, Indian Village and nearby Belle Isle. Each unit is roughly 1,500 square feet with a five-bedroom, one-bathroom upper unit and a four-bedroom, one-bathroom lower unit.

9. 2024-04-29
   listed $75,000 Active

   Show marketing remark (271 chars)

   2414 Concord is a two-unit building in the Islandview neighborhood of Detroit, adjacent to West Village, Indian Village and nearby Belle Isle. Each unit is roughly 1,500 square feet with a five-bedroom, one-bathroom upper unit and a four-bedroom, one-bathroom lower unit.

ⓘ 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: $8,869 · $739/mo
• Projected year-2 tax: $8,869 · $739/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 ≥96°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: $45,012
• − Mortgage interest: −$22,350
• − Property taxes: −$8,869
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,601
• − Management: −$3,601
• − Depreciation: −$11,607
• Taxable loss: −$7,012
• Est. tax savings @ 24.0%: +$1,683
• After-tax cash flow: $1,269/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): 20,848
• Household income: $47,831
• Rent vs Own: 74.2% rent · 25.8% own
• Severe rent burden: 2017.0

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 (74%)
• Race & ethnicity: Black 74% White 18% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▼ -2.79%
• Current HPI: 136.6328
• Rent YoY: ▲ 3.53%
• 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

+432.0% since first listed

9 events — show timeline

• 2026-05-19 Listed $399,000 MiRealSource-MiMLS
• 2026-05-19 Listed $399,000 REALCOMP
• 2024-06-11 Sold (Public Records) $80,000 Public Records
• 2024-06-07 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2024-06-07 Sold (MLS) $80,000 REALCOMP
• 2024-05-24 Pending — MiRealSource-MiMLS
• 2024-05-24 Pending — REALCOMP
• 2024-04-29 Listed $75,000 MiRealSource-MiMLS
• 2024-04-29 Listed $75,000 REALCOMP

Property tax history

+23.6%/yr

Latest (2025): $8,869 · +22.3% YoY. Source: county tax records.