14440 Chelsea St · Detroit, MI 48213

$55,000

3 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 17 Days on market

Built 1950 5,663 sqft lot Est $88k · 38% under

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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
• 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

Welcome to this cozy home! This 3-bedroom, 2-bathroom home offers great potential for first-time homebuyers, investors, or anyone looking to add their personal touch. Features include a spacious layout, full basement, and a detached 2-car garage. Located in a desirable neighborhood close to schools, parks, shopping, and major amenities. With a little TLC, this property can be transformed into your dream home or a valuable investment opportunity. Seller is selling the property in "as-is" condition. Don't miss this chance to own a home with tremendous potential at an affordable price!

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Exterior

• Parking: Detached garage; Driveway; 2 garage spaces
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Brick and vinyl siding exterior; Asphalt roof
• Exterior features: Paved road access; Lot approximately 0.13 acre (65 x 100)

Interior

• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfurnished; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.2% 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; 40 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 $1,353/mo this rent would consume 48% 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 $380 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 2.6% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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: 2.46% ✓
• Cap rate: 20.24%
• Cash-on-cash: 49.80%
• DSCR: 3.22
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $88,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13334 Elmdale St	0.34mi	3/1.0	1,221 (-0%)	3mo	$89,254	$73	82
13113 Camden St	0.52mi	3/1.0	1,224 (0%)	2mo	$88,000	$72	74
14210 Wilfred St	0.53mi	3/1.0	1,264 (+3%)	0mo	$17,000	$13	70
14750 Lannette St	0.37mi	3/1.0	1,099 (-10%)	3mo	$78,000	$71	63
13136 Maiden St	0.45mi	4/1.0 (+1)	1,144 (-6%)	1mo	$10,000	$9	62
9500 Lakepointe St	0.54mi	3/1.0	1,130 (-8%)	0mo	$125,000	$111	62
13124 Flanders St	0.67mi	3/2.0	1,150 (-6%)	0mo	$115,000	$100	54
10904 N Mogul St	0.47mi	3/1.0	1,045 (-15%)	0mo	$113,000	$108	53
14728 Wilfred St	0.49mi	3/1.0	1,050 (-14%)	3mo	$30,500	$29	51
10441 Roxbury St	0.71mi	3/1.5	1,127 (-8%)	3mo	$59,000	$52	49
9204 Wayburn St	0.52mi	4/1.0 (+1)	1,045 (-15%)	4mo	$80,000	$77	43
8801 E Outer Dr	0.75mi	3/1.5	1,047 (-14%)	1mo	$40,000	$38	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.5%
• Equity multiple: 3.07×
• Total profit: $31,844
• Equity at exit: $8,201

10-year hold

• IRR: 53.2%
• Equity multiple: 6.22×
• Total profit: $80,351
• Equity at exit: $4,755

Cash invested: $15,400 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$288
• Tax from tax record: −$118 /mo · $1,421/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $639

Break-even live

Break-even rent $544

Max offer price $55,000

Occupancy floor 48%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13400 Longview St Detroit, MI	3.0	1.5	1000	$1,400	$1.40	43d	1	0.27mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	0.39mi
9190 Hayes St Unit 1 Detroit, MI	2.0	1.0	750	$850	$1.13	14d	1	0.40mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	0.41mi
9516 Wayburn St Detroit, MI	2.0	1.0	800	$950	$1.19	17d	1	0.46mi
10724 Whitehill St Detroit, MI	3.0	3.0	1425	$1,550	$1.09	17d	1	0.48mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	17d	1	0.50mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	0.52mi
10644 Stratman St Detroit, MI	2.0	1.0	1000	$1,200	$1.20	17d	1	0.53mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	4d	1	0.56mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	0.57mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	10d	1	0.63mi
12840 Kilbourne St Detroit, MI	3.0	1.0	1136	$1,350	$1.19	17d	1	0.65mi
9927 Beaconsfield St Detroit, MI	3.0	1.0	942	$1,375	$1.46	14d	1	0.65mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	17d	1	0.70mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.71mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	0.71mi
9747 Somerset Ave Detroit, MI	2.0	1.0	797	$1,100	$1.38	43d	1	0.76mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	0.80mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	43d	1	0.85mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	43d	1	0.86mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	43d	1	0.92mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	14d	1	0.93mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	20d	1	0.93mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	4d	1	0.93mi
12210 Longview St Detroit, MI	3.0	1.0	1020	$1,100	$1.08	43d	1	0.97mi
12740 August St Detroit, MI	2.0	1.0	900	$1,300	$1.44	4d	1	1.03mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	3d	1	1.05mi
12051 Wilshire Dr Detroit, MI	3.0	1.5	1224	$1,250	$1.02	17d	1	1.10mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	43d	1	1.17mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	1.19mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	17d	1	1.20mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	43d	1	1.23mi
5235 Chatsworth St Detroit, MI	2.0	1.0	900	$1,050	$1.17	43d	1	1.25mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	43d	1	1.26mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	43d	1	1.26mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	1.31mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.31mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	17d	1	1.32mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	1.32mi

Listing history 12 events

1. 2026-06-18
   days on market $55,000 Active 17 DOM
2. 2026-06-17
   days on market $55,000 Active 16 DOM
3. 2026-06-15
   pricedays on market $55,000 Active 14 DOM
4. 2026-06-13
   days on market $57,000 Active 12 DOM
5. 2026-06-13
   days on market $57,000 Active 11 DOM
6. 2026-06-09
   days on market $57,000 Active 8 DOM
7. 2026-06-08
   days on market $57,000 Active 7 DOM
8. 2026-06-07
   days on market $57,000 Active 6 DOM
9. 2026-06-04
   days on market $57,000 Active 3 DOM
10. 2026-06-03
    days on market $57,000 Active 2 DOM
11. 2026-06-02
    remarks 589-char remark
12. 2026-06-02
    listed $57,000 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: $1,421 · $118/mo
• Projected year-2 tax: $1,421 · $118/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 ≥95°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: $16,236
• − Mortgage interest: −$3,081
• − Property taxes: −$1,421
• − Insurance: −$275
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$1,600
• Taxable income: $7,261
• Est. tax owed @ 24.0%: −$1,743
• After-tax cash flow: $5,927/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

+0.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $57,000 REALCOMP
• 2026-06-01 Listed $57,000 MiRealSource-MiMLS

Property tax history

+0.8%/yr

Latest (2025): $1,421 · -12.8% YoY. Source: county tax records.