3674 Mount Elliott St · Detroit, MI 48207

$65,000

4 bd · 1.5 ba · 1,659 sqft · SingleFamily public records · 106 Days on market

Built 1910 3,485 sqft lot Est $93k · 30% under ↓ 13% 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
• Appreciation +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

Key facts

• 3,485 sq ft lot
• Built 1910
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 27.1% 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 (+3.5%/yr); 244 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,960/mo this rent would consume 49% 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 $449 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 (-2.8% appreciation + 3.5% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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: 3.02% ✓
• Cap rate: 27.06%
• Cash-on-cash: 74.17%
• DSCR: 4.30
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $92,904
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2559 Helen St	0.58mi	3/1.5 (-1)	1,508 (-9%)	3mo	$85,000	$56	51
3238 Helen St	0.44mi	3/1.0 (-1)	1,475 (-11%)	6mo	$58,425	$40	49
4475 Field St	0.66mi	4/1.0	1,471 (-11%)	2mo	$45,000	$31	46
3499 Townsend St	0.67mi	3/2.5 (-1)	1,590 (-4%)	17mo	$276,000	$174	38
3730 Field St	0.56mi	3/1.0 (-1)	1,530 (-8%)	20mo	$68,000	$44	37
2909 Sheridan St	0.72mi	3/2.0 (-1)	1,790 (+8%)	22mo	$172,500	$96	28
3517 Townsend St	0.67mi	4/3.5	1,850 (+12%)	19mo	$300,000	$162	26
3982 Townsend St	0.70mi	3/1.0 (-1)	1,428 (-14%)	17mo	$79,460	$56	23

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: 74.7%
• Equity multiple: 4.45×
• Total profit: $62,746
• Equity at exit: $10,298

10-year hold

• IRR: 78.5%
• Equity multiple: 9.34×
• Total profit: $151,795
• Equity at exit: $6,666

Cash invested: $18,200 (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 48207

• Home prices YoY: -2.0%
• Rents YoY: 3.5%
• Active inventory: 244
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,960 high
• Mortgage (P&I): −$341
• Tax from tax record: −$56 /mo · $671/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $1,125

Break-even live

Break-even rent $537

Max offer price $65,000

Occupancy floor 38%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	43d	1	0.39mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	0.65mi
1738 Canton St Unit 1 Detroit, MI	4.0	1.0	2244	$1,650	$0.74	43d	1	0.91mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	0.99mi
1348 Village Dr Detroit, MI	3.0	2.5	2100	$2,295	$1.09	24d	1	1.06mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	1.22mi
2003 Orleans St Unit 528 Detroit, MI	4.0	2.0	1800	$2,500	$1.39	44d	1	1.41mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	43d	1	1.41mi
7918 E Lafayette St #4 Detroit, MI	3.0	1.0	1150	$1,800	$1.57	17d	1	1.43mi

Listing history 16 events

1. 2026-03-27
   status Pending
2. 2026-03-27
   historical
3. 2025-07-10
   status Pending 697-char remark

   Show marketing remark (697 chars)

   Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

4. 2025-07-10
   status Pending

   Show marketing remark (697 chars)

   Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

5. 2025-06-30
   price $65,000 697-char remark

   Show marketing remark (697 chars)

   Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

6. 2025-06-29
   price $65,000
7. 2025-06-26
   price $68,900 697-char remark

   Show marketing remark (697 chars)

   Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

8. 2025-06-26
   price $68,900

   Show marketing remark (697 chars)

   Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

9. 2025-06-09
   price $69,000 697-char remark

   Show marketing remark (697 chars)

   Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

10. 2025-06-09
    price $69,000

    Show marketing remark (697 chars)

    Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

11. 2025-05-23
    price $69,900 697-char remark

    Show marketing remark (697 chars)

    Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

12. 2025-05-23
    price $69,900

    Show marketing remark (697 chars)

    Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

13. 2025-04-22
    status Active
14. 2025-04-21
    historical
15. 2025-03-25
    status Active

    Show marketing remark (697 chars)

    Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

16. 2025-03-25
    listed $74,900 Active 697-char remark

    Show marketing remark (697 chars)

    Solid foundation, original doors, molding, staircase, floors, fixtures, throughout the house. The unique detail of this property is worth so much more!! Just cannot find this detail easy anywhere. Looking for a savvy investor looking to bring this gem back to life. Sellers have owned property for 50 years plus. Walking distance to all major businesses, minutes from Downtown Detroit, walk, bike to Eastern Market. This house very close to the well known art project named the Heidelberg Project - one of the most visited cultural sites in Detroit, with guests from more than 140 countries. LOT NEXT TO PROPERTY is available as well. Schedule your showing today and make this house your new home.

ⓘ 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: $671 · $56/mo
• Projected year-2 tax: $836 · $70/mo
• Expected delta: +$165/yr (+$14/mo · 24.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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: $23,525
• − Mortgage interest: −$3,641
• − Property taxes: −$671
• − Insurance: −$325
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$1,891
• Taxable income: $13,233
• Est. tax owed @ 24.0%: −$3,176
• After-tax cash flow: $10,323/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

-13.2% since first listed

16 events — show timeline

• 2026-03-27 Pending — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2025-07-10 Pending — MiRealSource-MiMLS
• 2025-07-10 Pending — REALCOMP
• 2025-06-30 Price Changed $65,000 MiRealSource-MiMLS
• 2025-06-29 Price Changed $65,000 REALCOMP
• 2025-06-26 Price Changed $68,900 MiRealSource-MiMLS
• 2025-06-26 Price Changed $68,900 REALCOMP
• 2025-06-09 Price Changed $69,000 MiRealSource-MiMLS
• 2025-06-09 Price Changed $69,000 REALCOMP
• 2025-05-23 Price Changed $69,900 MiRealSource-MiMLS
• 2025-05-23 Price Changed $69,900 REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-21 Listing Removed — REALCOMP
• 2025-03-25 Relisted — REALCOMP
• 2025-03-25 Listed $74,900 MiRealSource-MiMLS

Property tax history

+0.9%/yr

Latest (2025): $671 · -35.8% YoY. Source: county tax records.