14845 Indiana St · Detroit, MI 48238

$100,000

4 bd · 1.5 ba · 1,551 sqft · MultiFamily public records · 15 Days on market

Built 1928 3,920 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
• 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

Multi-family units

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

Key facts

• 3,920 sq ft lot
• 2 parking spots
• Built 1928

Property features AI

Finance

• Financial info: Tax annual amount approximately $3,500

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected
• Home design: Multi-family residential income property
• Construction: Brick construction
• Exterior features: Lot dimensions approximately 40 x 100; Lot area about 3,920 sq ft

Interior

• Bedrooms: Upper unit: 2 bedrooms; Lower unit: 2 bedrooms
• Bathrooms: Upper unit: 1 bathroom; Lower unit: 1 bathroom
• Heating & cooling: Forced air heating (natural gas)
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.6% 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; 32 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 $1,965/mo this rent would consume 71% of the median local household income ($33k/yr) (locally 2172% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 7y 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 $25k; list at $100k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (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. 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 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: 1.97% ✓
• Cap rate: 15.60%
• Cash-on-cash: 33.26%
• DSCR: 2.48
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $49,632
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15378 Washburn St	0.39mi	4/2.0	1,524 (-2%)	4mo	$120,000	$79	74
14811 Washburn St	0.16mi	4/2.0	1,593 (+3%)	16mo	$52,000	$33	72
15865 Cloverlawn St	0.75mi	4/2.0	1,429 (-8%)	7mo	$44,000	$31	44
13960 Cherrylawn St	0.66mi	4/2.0	1,440 (-7%)	13mo	$22,500	$16	44
15365 Northlawn St	0.40mi	4/2.0	1,368 (-12%)	22mo	$105,000	$77	41
15700 Pinehurst St	0.67mi	3/2.0 (-1)	1,616 (+4%)	22mo	$52,000	$32	36
15895 Wisconsin St	0.73mi	4/2.0	1,731 (+12%)	20mo	$37,000	$21	28

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: 32.2%
• Equity multiple: 2.42×
• Total profit: $39,704
• Equity at exit: $14,910

10-year hold

• IRR: 41.1%
• Equity multiple: 5.52×
• Total profit: $126,574
• Equity at exit: $8,646

Cash invested: $28,000 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,965 high
• Mortgage (P&I): −$524
• Tax from tax record: −$210 /mo · $2,523/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $776

Break-even live

Break-even rent $983

Max offer price $100,000

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,964
Total (2 units)			$1,965

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	0.29mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	0.48mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	24d	1	0.51mi
15756 Ohio St Detroit, MI	5.0	2.0	1934	$1,700	$0.88	24d	1	0.57mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	0.58mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	20d	1	0.67mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	17d	1	0.70mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	0.70mi
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	17d	1	0.76mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.77mi
16183 Wisconsin St Detroit, MI	3.0	1.5	1370	$1,400	$1.02	44d	1	0.83mi
16211 Kentucky St Detroit, MI	4.0	2.0	2168	$1,995	$0.92	17d	1	0.86mi
16546 Wisconsin St Detroit, MI	3.0	1.0	1577	$1,500	$0.95	44d	1	0.96mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.96mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	1.06mi
16889 Washburn St Detroit, MI	3.0	1.5	1300	$1,100	$0.85	17d	1	1.17mi
16230 Cheyenne St Detroit, MI	3.0	1.0	1653	$1,450	$0.88	44d	1	1.22mi
16934 Ilene St Detroit, MI	3.0	1.5	1516	$1,400	$0.92	20d	1	1.22mi
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	24d	1	1.22mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.23mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	13d	1	1.24mi
16722 Tuller St Detroit, MI	3.0	1.5	1100	$1,500	$1.36	17d	1	1.24mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	1.25mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	1.28mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	1.34mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	3d	1	1.35mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	1.39mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	1.40mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	13d	1	1.42mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	1.45mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	1.46mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	44d	1	1.47mi

Listing history 10 events

1. 2026-06-18
   days on market $100,000 Active 15 DOM
2. 2026-06-17
   days on market $100,000 Active 14 DOM
3. 2026-06-16
   days on market $100,000 Active 13 DOM
4. 2026-06-15
   days on market $100,000 Active 12 DOM
5. 2026-06-13
   days on market $100,000 Active 10 DOM
6. 2026-06-13
   days on market $100,000 Active 9 DOM
7. 2026-06-09
   days on market $100,000 Active 6 DOM
8. 2026-06-08
   days on market $100,000 Active 5 DOM
9. 2026-06-07
   days on market $100,000 Active 4 DOM
10. 2026-06-03
    listed $100,000 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: $2,523 · $210/mo
• Projected year-2 tax: $2,523 · $210/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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,580
• − Mortgage interest: −$5,602
• − Property taxes: −$2,523
• − Insurance: −$500
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − Depreciation: −$2,909
• Taxable income: $8,273
• Est. tax owed @ 24.0%: −$1,986
• After-tax cash flow: $7,326/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

+112.8% since first listed

36 events — show timeline

• 2026-06-03 Listed $100,000 REALCOMP
• 2026-06-03 Listed $100,000 MiRealSource-MiMLS
• 2026-01-23 Listing Removed — MiRealSource-MiMLS
• 2026-01-23 Listing Removed — REALCOMP
• 2026-01-06 Price Changed $99,999 MiRealSource-MiMLS
• 2026-01-06 Price Changed $99,999 REALCOMP
• 2025-12-20 Price Changed $107,500 MiRealSource-MiMLS
• 2025-12-19 Price Changed $107,500 REALCOMP
• 2025-12-02 Listed $110,000 MiRealSource-MiMLS
• 2025-12-02 Listed $110,000 REALCOMP
• 2025-06-03 Pending — MiRealSource-MiMLS
• 2025-06-03 Pending — REALCOMP
• 2025-05-01 Listing Removed — REALCOMP
• 2025-05-01 Listing Removed — MiRealSource-MiMLS
• 2024-12-05 Price Changed $130,000 MiRealSource-MiMLS
• 2024-12-04 Price Changed $130,000 REALCOMP
• 2024-11-10 Listed $149,000 MiRealSource-MiMLS
• 2024-11-10 Listed $149,000 REALCOMP
• 2024-11-09 Coming Soon — MiRealSource-MiMLS
• 2024-11-09 Coming Soon — REALCOMP
• 2024-10-25 Listing Removed — MiRealSource-MiMLS
• 2024-10-25 Listing Removed — REALCOMP
• 2024-09-04 Price Changed $149,900 MiRealSource-MiMLS
• 2024-08-06 Price Changed $135,900 MiRealSource-MiMLS
• 2024-07-29 Price Changed $149,900 MiRealSource-MiMLS
• 2024-05-24 Listed $149,999 MiRealSource-MiMLS
• 2024-05-24 Listed $149,900 REALCOMP
• 2020-06-19 Sold (Public Records) $25,000 Public Records
• 2019-07-09 Listing Removed — REALCOMP
• 2019-07-09 Listing Removed — MiRealSource-MiMLS
• 2019-04-13 Price Changed $44,500 MiRealSource-MiMLS
• 2019-04-13 Price Changed $44,500 REALCOMP
• 2019-03-19 Price Changed $45,500 MiRealSource-MiMLS
• 2019-03-18 Price Changed $45,500 REALCOMP
• 2019-02-21 Listed $47,000 REALCOMP
• 2019-02-21 Listed $47,000 MiRealSource-MiMLS

Property tax history

+14.7%/yr

Latest (2025): $2,523 · +1.2% YoY. Source: county tax records.