16845-7 Dolphin St · Detroit, MI 48219

$79,999

6 bd · 1.5 ba · 1,551 sqft · MultiFamily public records · 65 Days on market

Built 1920 6,534 sqft lot $52/sqft · 12% above area Est $71k · 12% over ↓ 16% since listing

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Why this score? — see what drove the C+ 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
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• 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: 2 units. confirmed

Listing remarks MLS

SPACIOUS DUPLEX LOCATED SOUTH OF MCNICHOLS AND WEST OF LAHSER. BOTH UNITS ARE CURRENTLY VACANT AND READY FOR YOUR IDEAS! THIS PROPERTY FEATURES PRIVATE ENTRY FOR EACH UNIT! UNIT ONE FEATURES LIVING ROOM, KITCHEN, AND BATH ON THE FIRST FLOOR , WITH ONE BEDROOM ON THE SECOND FLOOR. THE SECOND UNIT FEATURES LIVING ROOM, DINING ROOM, GOOD SIZED KITCHEN, HALF BATH AND FULL BATHROOM, THE SECONFD FLOOR INCLUDES TWO BEDROOMS. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

Key facts

• Private entry
• 6,534 sq ft lot
• Built 1920

Tags

• PRIVATE ENTRY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $612/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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 (+8.0%/yr); 305 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,413/mo this rent would consume 66% of the median local household income ($44k/yr) (locally 3584% 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 $553 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 + 8.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 2y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,199 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 3.02% ✓
• Cap rate: 24.64%
• Cash-on-cash: 65.52%
• DSCR: 3.92
• GRM: 2.8

CMA / ARV

• ARV (median comp): $71,354
• List price: $79,999
• Delta: 12.12%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 70.8%
• Equity multiple: 4.47×
• Total profit: $77,800
• Equity at exit: $11,928

10-year hold

• IRR: 76.3%
• Equity multiple: 11.11×
• Total profit: $226,561
• Equity at exit: $6,917

Cash invested: $22,400 (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 48219

• Home prices YoY: -10.3%
• Rents YoY: 8.0%
• Active inventory: 305
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,413 high
• Mortgage (P&I): −$420
• Tax from tax record: −$230 /mo · $2,765/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $1,223

Break-even live

Break-even rent $865

Max offer price $79,999

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$2,414
Total (2 units)			$2,413

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $79,999 Active 65 DOM
2. 2026-06-17
   days on market $79,999 Active 64 DOM
3. 2026-06-15
   days on market $79,999 Active 62 DOM
4. 2026-06-13
   days on market $79,999 Active 60 DOM
5. 2026-06-13
   days on market $79,999 Active 59 DOM
6. 2026-06-09
   days on market $79,999 Active 56 DOM
7. 2026-06-08
   days on market $79,999 Active 55 DOM
8. 2026-06-07
   days on market $79,999 Active 54 DOM
9. 2026-06-04
   days on market $79,999 Active 51 DOM
10. 2026-06-03
    days on market $79,999 Active 50 DOM
11. 2026-06-02
    days on market $79,999 Active 49 DOM
12. 2026-06-01
    days on market $79,999 Active 48 DOM
13. 2026-05-31
    days on market $79,999 Active 47 DOM
14. 2026-05-14
    price $79,999 619-char remark

    Show marketing remark (619 chars)

    SPACIOUS DUPLEX LOCATED SOUTH OF MCNICHOLS AND WEST OF LAHSER. BOTH UNITS ARE CURRENTLY VACANT AND READY FOR YOUR IDEAS! THIS PROPERTY FEATURES PRIVATE ENTRY FOR EACH UNIT! UNIT ONE FEATURES LIVING ROOM, KITCHEN, AND BATH ON THE FIRST FLOOR , WITH ONE BEDROOM ON THE SECOND FLOOR. THE SECOND UNIT FEATURES LIVING ROOM, DINING ROOM, GOOD SIZED KITCHEN, HALF BATH AND FULL BATHROOM, THE SECONFD FLOOR INCLUDES TWO BEDROOMS. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

15. 2026-05-13
    price $79,999 619-char remark

    Show marketing remark (619 chars)

    SPACIOUS DUPLEX LOCATED SOUTH OF MCNICHOLS AND WEST OF LAHSER. BOTH UNITS ARE CURRENTLY VACANT AND READY FOR YOUR IDEAS! THIS PROPERTY FEATURES PRIVATE ENTRY FOR EACH UNIT! UNIT ONE FEATURES LIVING ROOM, KITCHEN, AND BATH ON THE FIRST FLOOR , WITH ONE BEDROOM ON THE SECOND FLOOR. THE SECOND UNIT FEATURES LIVING ROOM, DINING ROOM, GOOD SIZED KITCHEN, HALF BATH AND FULL BATHROOM, THE SECONFD FLOOR INCLUDES TWO BEDROOMS. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

16. 2026-04-14
    listed $89,900 Active 619-char remark

    Show marketing remark (619 chars)

    SPACIOUS DUPLEX LOCATED SOUTH OF MCNICHOLS AND WEST OF LAHSER. BOTH UNITS ARE CURRENTLY VACANT AND READY FOR YOUR IDEAS! THIS PROPERTY FEATURES PRIVATE ENTRY FOR EACH UNIT! UNIT ONE FEATURES LIVING ROOM, KITCHEN, AND BATH ON THE FIRST FLOOR , WITH ONE BEDROOM ON THE SECOND FLOOR. THE SECOND UNIT FEATURES LIVING ROOM, DINING ROOM, GOOD SIZED KITCHEN, HALF BATH AND FULL BATHROOM, THE SECONFD FLOOR INCLUDES TWO BEDROOMS. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

17. 2026-04-14
    listed $89,900 Active 619-char remark

    Show marketing remark (619 chars)

    SPACIOUS DUPLEX LOCATED SOUTH OF MCNICHOLS AND WEST OF LAHSER. BOTH UNITS ARE CURRENTLY VACANT AND READY FOR YOUR IDEAS! THIS PROPERTY FEATURES PRIVATE ENTRY FOR EACH UNIT! UNIT ONE FEATURES LIVING ROOM, KITCHEN, AND BATH ON THE FIRST FLOOR , WITH ONE BEDROOM ON THE SECOND FLOOR. THE SECOND UNIT FEATURES LIVING ROOM, DINING ROOM, GOOD SIZED KITCHEN, HALF BATH AND FULL BATHROOM, THE SECONFD FLOOR INCLUDES TWO BEDROOMS. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

18. 2025-12-29
    historical
19. 2025-10-24
    status Active
20. 2025-10-24
    status Active
21. 2025-10-17
    status Pending
22. 2025-10-17
    status Pending
23. 2025-10-17
    historical
24. 2025-10-09
    status Active
25. 2025-09-12
    status Active
26. 2025-09-12
    status Active
27. 2025-08-27
    status Pending
28. 2025-08-27
    status Pending
29. 2025-08-27
    historical
30. 2025-07-31
    status Active
31. 2025-07-31
    status Active
32. 2025-07-29
    status Pending
33. 2025-07-29
    status Pending
34. 2025-07-10
    listed $86,500 Active
35. 2025-07-10
    listed $86,500 Active
36. 2024-12-10
    soldstatus $87,000
37. 2024-07-25
    historical
38. 2024-07-25
    historical
39. 2024-06-07
    listed $94,900 Active
40. 2024-06-07
    listed $94,900 Active

ⓘ 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: $2,765 · $230/mo
• Projected year-2 tax: $2,765 · $230/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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,956
• − Mortgage interest: −$4,481
• − Property taxes: −$2,765
• − Insurance: −$400
• − Repairs & maintenance: −$2,316
• − Management: −$2,316
• − Depreciation: −$2,327
• Taxable income: $14,350
• Est. tax owed @ 24.0%: −$3,444
• After-tax cash flow: $11,232/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): 47,208
• Household income: $43,655
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 3584.0

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 (88%)
• Race & ethnicity: Black 88% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -65.06%
• Current HPI: 563.3263
• Rent YoY: ▲ 8.04%
• 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

-15.7% since first listed

27 events — show timeline

• 2026-05-14 Price Changed $79,999 MiRealSource-MiMLS
• 2026-05-13 Price Changed $79,999 REALCOMP
• 2026-04-14 Listed $89,900 REALCOMP
• 2026-04-14 Listed $89,900 MiRealSource-MiMLS
• 2025-12-29 Listing Removed — MiRealSource-MiMLS
• 2025-10-24 Relisted — MiRealSource-MiMLS
• 2025-10-24 Relisted — REALCOMP
• 2025-10-17 Pending — MiRealSource-MiMLS
• 2025-10-17 Pending — REALCOMP
• 2025-10-17 Listing Removed — REALCOMP
• 2025-10-09 Relisted — REALCOMP
• 2025-09-12 Relisted — MiRealSource-MiMLS
• 2025-09-12 Relisted — REALCOMP
• 2025-08-27 Pending — MiRealSource-MiMLS
• 2025-08-27 Pending — REALCOMP
• 2025-08-27 Listing Removed — REALCOMP
• 2025-07-31 Relisted — REALCOMP
• 2025-07-31 Relisted — MiRealSource-MiMLS
• 2025-07-29 Pending — MiRealSource-MiMLS
• 2025-07-29 Pending — REALCOMP
• 2025-07-10 Listed $86,500 REALCOMP
• 2025-07-10 Listed $86,500 MiRealSource-MiMLS
• 2024-12-10 Sold (Public Records) $87,000 Public Records
• 2024-07-25 Listing Removed — MiRealSource-MiMLS
• 2024-07-25 Listing Removed — REALCOMP
• 2024-06-07 Listed $94,900 MiRealSource-MiMLS
• 2024-06-07 Listed $94,900 REALCOMP

Property tax history

+9.9%/yr

Latest (2025): $2,765 · +0.0% YoY. Source: county tax records.