1695 Monterey St · Detroit, MI 48206

$15,000

3 bd · 1.0 ba · 1,772 sqft · SingleFamily public records · 83 Days on market

Built 1916 6,970 sqft lot $8/sqft · 84% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Development opportunity in up and coming area with lots of revitalization happening. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Room sizes are estimates. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

Key facts

• 6,970 sq ft lot
• Garage
• Built 1916

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).
• Recommended offer: $14k (6.0% below list) — sets the bar for market timing.
• Cap rate 98.3% 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 (+5.2%/yr); 271 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 42% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 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 + 5.2% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($14k) 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: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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. 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?
8. 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.
9. 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.
10. 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: 10.59% ✓
• Cap rate: 98.29%
• Cash-on-cash: 328.56%
• DSCR: 15.62
• GRM: 0.8

CMA / ARV

• ARV (median comp): $91,491
• List price: $15,000
• Delta: -83.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1671 W Buena Vista St	0.42mi	3/1.0	1,680 (-5%)	7mo	$65,000	$39	66
2405 Sturtevant St	0.40mi	3/1.5	1,636 (-8%)	3mo	$45,000	$28	64
2220 Webb St	0.26mi	4/2.5 (+1)	1,848 (+4%)	12mo	$130,000	$70	60
929 Lawrence St	0.61mi	3/1.5	1,692 (-4%)	9mo	$205,000	$121	54
2064 Glynn Ct	0.53mi	4/1.5 (+1)	1,624 (-8%)	4mo	$118,556	$73	51
2452 Fullerton St	0.49mi	3/1.5	1,984 (+12%)	8mo	$127,000	$64	49
1981 Leslie St	0.32mi	3/1.5	1,518 (-14%)	13mo	$50,000	$33	48
2704 Burlingame St	0.69mi	3/1.5	1,618 (-9%)	6mo	$119,000	$74	46
121 Richton St	0.75mi	3/2.0	1,732 (-2%)	13mo	$207,500	$120	46
2660 Webb St	0.63mi	4/1.5 (+1)	1,956 (+10%)	2mo	$61,000	$31	45
884 Burlingame St	0.61mi	3/1.5	1,568 (-12%)	12mo	$55,000	$35	40
936 Glynn Ct	0.71mi	4/3.0 (+1)	1,874 (+6%)	10mo	$285,000	$152	36

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 18.72×
• Total profit: $74,429
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 42.58×
• Total profit: $174,645
• Equity at exit: $1,297

Cash invested: $4,200 (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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$79
• Tax from tax record: −$20 /mo · $240/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $1,150

Break-even live

Break-even rent $133

Max offer price $15,000

Occupancy floor 23%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	0.47mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	44d	1	0.50mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	0.52mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	2d	1	0.67mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	2d	1	0.73mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	44d	1	0.76mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	17d	1	0.81mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	0.82mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	0.87mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	0.90mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	17d	1	0.91mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	17d	1	1.01mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.01mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	44d	1	1.01mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	24d	1	1.04mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	4d	1	1.04mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	2d	1	1.10mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	1.10mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	24d	1	1.11mi
2463 Taylor St Detroit, MI	3.0	1.0	1350	$1,100	$0.81	44d	1	1.13mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	44d	1	1.13mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	2d	1	1.14mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	1.19mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	24d	1	1.22mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	1.23mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	17d	1	1.25mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	1.30mi
4046 Tyler St Detroit, MI	2.0	1.0	2378	$1,050	$0.44	13d	1	1.37mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	44d	1	1.41mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	1.41mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	24d	1	1.43mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	44d	1	1.44mi
1710 Virginia Park St Detroit, MI	2.0	2.0	1350	$1,300	$0.96	5d	1	1.44mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	44d	1	1.46mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	44d	1	1.46mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	44d	1	1.47mi
330 Westminster St Detroit, MI	3.0	1.0	1995	$1,900	$0.95	24d	1	1.49mi
330 Westminster St Unit NA Detroit, MI	3.0	1.0	1995	$1,900	$0.95	44d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $15,000 Active 83 DOM
2. 2026-06-17
   days on market $15,000 Active 82 DOM
3. 2026-06-15
   days on market $15,000 Active 80 DOM
4. 2026-06-13
   days on market $15,000 Active 78 DOM
5. 2026-06-13
   days on market $15,000 Active 77 DOM
6. 2026-06-09
   days on market $15,000 Active 74 DOM
7. 2026-06-08
   days on market $15,000 Active 73 DOM
8. 2026-06-07
   days on market $15,000 Active 72 DOM
9. 2026-06-04
   days on market $15,000 Active 69 DOM
10. 2026-06-03
    days on market $15,000 Active 68 DOM
11. 2026-06-02
    days on market $15,000 Active 67 DOM
12. 2026-06-01
    days on market $15,000 Active 66 DOM
13. 2026-05-31
    days on market $15,000 Active 65 DOM
14. 2026-03-27
    listed $15,000 Active 772-char remark

    Show marketing remark (772 chars)

    Development opportunity in up and coming area with lots of revitalization happening. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Room sizes are estimates. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

15. 2026-03-27
    listed $15,000 Active 772-char remark

    Show marketing remark (772 chars)

    Development opportunity in up and coming area with lots of revitalization happening. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and proof of previous development experience. Room sizes are estimates. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after DLBA review of the development pro forma and financing.

ⓘ 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: $240 · $20/mo
• Projected year-2 tax: $240 · $20/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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,061
• − Mortgage interest: −$840
• − Property taxes: −$240
• − Insurance: −$75
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$436
• Taxable income: $14,420
• Est. tax owed @ 24.0%: −$3,461
• After-tax cash flow: $10,339/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

• 2026-03-27 Listed $15,000 MiRealSource-MiMLS
• 2026-03-27 Listed $15,000 REALCOMP

Property tax history

-48.3%/yr

Latest (2016): $240 · -76.4% YoY. Source: county tax records.