2660 Glendale St · Detroit, MI 48238

$159,900

6 bd · 3.0 ba · 2,700 sqft · Townhouse public records · 252 Days on market

Built 1924 4,356 sqft lot $59/sqft · 228% above area

---

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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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

Listing remarks MLS

* * INVESTORS * * Add this cash-flowing 2-unit multi family to your rental portfolio today! Each unit is rented for $900/month on month-to-month terms to tenants who have been in the property for 2+ years! Each unit features an updated kitchen, updated bathroom, a large living room, a dining room, and 3 bedrooms! The units also feature separate gas and electric meters. forced air heating, updated PEX & PVC plumbing, updated romex wiring & 100 amp electrical panels, refinished hardwood floor in parts of the units, vinyl windows, and so much more! Cash, conventional, or hard money ONLY, NO SELLER FINANCING! Transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all-cash, privately financed, or HELOC.

Key facts

• Updated pex plumbing
• Forced air heating
• Large living room

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• LARGE LIVING ROOM
• DINING ROOM
• FORCED AIR HEATING
• UPDATED PEX PLUMBING

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $2,156/mo this rent would consume 78% 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 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 $35k; list at $160k implies a 357% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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: 1.35% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• GRM: 6.2

CMA / ARV

• ARV (median comp): $48,726
• List price: $159,900
• Delta: 228.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.49×
• Total profit: $22,064
• Equity at exit: $23,842

10-year hold

• IRR: 23.2%
• Equity multiple: 3.29×
• Total profit: $102,713
• Equity at exit: $13,825

Cash invested: $44,772 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,156 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $643

Break-even live

Break-even rent $1,343

Max offer price $159,900

Occupancy floor 65%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.11mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	4d	1	1.11mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	14d	1	1.42mi

Listing history 27 events

1. 2026-06-18
   days on market $159,900 Active 252 DOM
2. 2026-06-17
   days on market $159,900 Active 251 DOM
3. 2026-06-15
   days on market $159,900 Active 249 DOM
4. 2026-06-13
   days on market $159,900 Active 247 DOM
5. 2026-06-13
   days on market $159,900 Active 246 DOM
6. 2026-06-09
   days on market $159,900 Active 243 DOM
7. 2026-06-08
   days on market $159,900 Active 242 DOM
8. 2026-06-07
   days on market $159,900 Active 241 DOM
9. 2026-06-04
   days on market $159,900 Active 238 DOM
10. 2026-06-03
    days on market $159,900 Active 237 DOM
11. 2026-06-01
    days on market $159,900 Active 235 DOM
12. 2026-05-31
    days on market $159,900 Active 234 DOM
13. 2025-10-09
    listed $159,900 Active 807-char remark

    Show marketing remark (807 chars)

    * * INVESTORS * * Add this cash-flowing 2-unit multi family to your rental portfolio today! Each unit is rented for $900/month on month-to-month terms to tenants who have been in the property for 2+ years! Each unit features an updated kitchen, updated bathroom, a large living room, a dining room, and 3 bedrooms! The units also feature separate gas and electric meters. forced air heating, updated PEX & PVC plumbing, updated romex wiring & 100 amp electrical panels, refinished hardwood floor in parts of the units, vinyl windows, and so much more! Cash, conventional, or hard money ONLY, NO SELLER FINANCING! Transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all-cash, privately financed, or HELOC.

14. 2025-10-09
    listed $159,900 Active 807-char remark

    Show marketing remark (807 chars)

    * * INVESTORS * * Add this cash-flowing 2-unit multi family to your rental portfolio today! Each unit is rented for $900/month on month-to-month terms to tenants who have been in the property for 2+ years! Each unit features an updated kitchen, updated bathroom, a large living room, a dining room, and 3 bedrooms! The units also feature separate gas and electric meters. forced air heating, updated PEX & PVC plumbing, updated romex wiring & 100 amp electrical panels, refinished hardwood floor in parts of the units, vinyl windows, and so much more! Cash, conventional, or hard money ONLY, NO SELLER FINANCING! Transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all-cash, privately financed, or HELOC.

15. 2021-04-26
    soldstatus $35,000 Sold
16. 2021-04-26
    soldstatus $35,000 Closed
17. 2021-04-13
    status Pending
18. 2021-04-13
    status Pending
19. 2021-04-02
    listed $39,000 Active
20. 2021-04-02
    listed $39,000 Active
21. 2019-04-30
    soldstatus $12,500 Sold
22. 2019-04-30
    soldstatus $12,500 Closed
23. 2019-04-16
    status Pending
24. 2019-04-16
    status Pending
25. 2019-04-10
    listed $10,000 Active
26. 2019-04-10
    listed $10,000 Active
27. 2002-05-22
    soldstatus $31,275

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $2,165 · $180/mo
• Expected delta: +$298/yr (+$25/mo · 15.9%)

ⓘ 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: $25,878
• − Mortgage interest: −$8,957
• − Property taxes: −$1,867
• − Insurance: −$800
• − Repairs & maintenance: −$2,070
• − Management: −$2,070
• − Depreciation: −$4,652
• Taxable income: $5,462
• Est. tax owed @ 24.0%: −$1,311
• After-tax cash flow: $6,403/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

+411.3% since first listed

15 events — show timeline

• 2025-10-09 Listed $159,900 REALCOMP
• 2025-10-09 Listed $159,900 MiRealSource-MiMLS
• 2021-04-26 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2021-04-26 Sold (MLS) $35,000 REALCOMP
• 2021-04-13 Pending — MiRealSource-MiMLS
• 2021-04-13 Pending — REALCOMP
• 2021-04-02 Listed $39,000 MiRealSource-MiMLS
• 2021-04-02 Listed $39,000 REALCOMP
• 2019-04-30 Sold (MLS) $12,500 MiRealSource-MiMLS
• 2019-04-30 Sold (MLS) $12,500 REALCOMP
• 2019-04-16 Pending — MiRealSource-MiMLS
• 2019-04-16 Pending — REALCOMP
• 2019-04-10 Listed $10,000 MiRealSource-MiMLS
• 2019-04-10 Listed $10,000 REALCOMP
• 2002-05-22 Sold (Public Records) $31,275 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,867 · -9.3% YoY. Source: county tax records.