2547 Elmhurst St · Detroit, MI 48206

$145,000

8 bd · 4.0 ba · 3,850 sqft · Townhouse public records · 90 Days on market

Built 1923 4,792 sqft lot $38/sqft · 40% above area Est $103k · 40% over

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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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful brick 4-unit building located in the revitalizing Dexter-Linwood neighborhood, just minutes from Boston-Edison and Russell Woods. Each unit features 2 bedrooms and has been fully gutted to the studs, offering a blank canvas for your custom finishes. Major capital improvements are already completed, including new PEX plumbing, updated electrical, roof, subflooring, framing, and several new windows. With the heavy work done, this is a prime value-add opportunity for investors or owner-occupants looking to finish and maximize returns in a rapidly appreciating area.

Key facts

• Updated electrical
• New pex plumbing
• New windows

Tags

• BRICK 4-UNIT BUILDING
• NEW PEX PLUMBING
• UPDATED ELECTRICAL
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath townhouse listed at $145k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% 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 (+5.2%/yr); 271 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,867/mo this rent would consume 50% of the median local household income ($45k/yr) (locally 646% 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 $4k 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 $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 9y ago; this cycle's ask has dropped $69k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1923 — 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: 1.29% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.24%
• DSCR: 1.68
• GRM: 6.5

CMA / ARV

• ARV (median comp): $103,452
• List price: $145,000
• Delta: 40.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.33×
• Total profit: $13,563
• Equity at exit: $21,620

10-year hold

• IRR: 19.3%
• Equity multiple: 2.78×
• Total profit: $72,223
• Equity at exit: $12,537

Cash invested: $40,600 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,867 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$138 /mo · $1,658/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $516

Break-even live

Break-even rent $1,214

Max offer price $145,000

Occupancy floor 67%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 49 events

1. 2026-06-18
   days on market $145,000 Active 90 DOM
2. 2026-06-17
   days on market $145,000 Active 89 DOM
3. 2026-06-15
   days on market $145,000 Active 87 DOM
4. 2026-06-13
   days on market $145,000 Active 85 DOM
5. 2026-06-13
   days on market $145,000 Active 84 DOM
6. 2026-06-09
   days on market $145,000 Active 81 DOM
7. 2026-06-08
   days on market $145,000 Active 80 DOM
8. 2026-06-07
   days on market $145,000 Active 79 DOM
9. 2026-06-04
   days on market $145,000 Active 76 DOM
10. 2026-06-03
    days on market $145,000 Active 75 DOM
11. 2026-06-01
    days on market $145,000 Active 73 DOM
12. 2026-05-31
    days on market $145,000 Active 72 DOM
13. 2026-04-09
    price $145,000 578-char remark

    Show marketing remark (578 chars)

    Beautiful brick 4-unit building located in the revitalizing Dexter-Linwood neighborhood, just minutes from Boston-Edison and Russell Woods. Each unit features 2 bedrooms and has been fully gutted to the studs, offering a blank canvas for your custom finishes. Major capital improvements are already completed, including new PEX plumbing, updated electrical, roof, subflooring, framing, and several new windows. With the heavy work done, this is a prime value-add opportunity for investors or owner-occupants looking to finish and maximize returns in a rapidly appreciating area.

14. 2026-04-08
    price $145,000 578-char remark

    Show marketing remark (578 chars)

    Beautiful brick 4-unit building located in the revitalizing Dexter-Linwood neighborhood, just minutes from Boston-Edison and Russell Woods. Each unit features 2 bedrooms and has been fully gutted to the studs, offering a blank canvas for your custom finishes. Major capital improvements are already completed, including new PEX plumbing, updated electrical, roof, subflooring, framing, and several new windows. With the heavy work done, this is a prime value-add opportunity for investors or owner-occupants looking to finish and maximize returns in a rapidly appreciating area.

15. 2026-03-21
    listed $214,000 Active 578-char remark

    Show marketing remark (578 chars)

    Beautiful brick 4-unit building located in the revitalizing Dexter-Linwood neighborhood, just minutes from Boston-Edison and Russell Woods. Each unit features 2 bedrooms and has been fully gutted to the studs, offering a blank canvas for your custom finishes. Major capital improvements are already completed, including new PEX plumbing, updated electrical, roof, subflooring, framing, and several new windows. With the heavy work done, this is a prime value-add opportunity for investors or owner-occupants looking to finish and maximize returns in a rapidly appreciating area.

16. 2026-03-21
    listed $214,000 Active 578-char remark

    Show marketing remark (578 chars)

    Beautiful brick 4-unit building located in the revitalizing Dexter-Linwood neighborhood, just minutes from Boston-Edison and Russell Woods. Each unit features 2 bedrooms and has been fully gutted to the studs, offering a blank canvas for your custom finishes. Major capital improvements are already completed, including new PEX plumbing, updated electrical, roof, subflooring, framing, and several new windows. With the heavy work done, this is a prime value-add opportunity for investors or owner-occupants looking to finish and maximize returns in a rapidly appreciating area.

17. 2025-06-25
    historical
18. 2025-04-03
    listed $215,000 Active
19. 2025-04-02
    listed $215,000 Active
20. 2018-02-23
    historical
21. 2018-02-21
    status Pending
22. 2018-02-21
    status Pending
23. 2018-02-20
    status Active
24. 2018-02-20
    status Active
25. 2018-02-20
    historical
26. 2018-02-13
    status Pending
27. 2018-02-13
    status Pending
28. 2018-02-05
    status Active
29. 2018-02-05
    status Active
30. 2018-01-26
    historical
31. 2018-01-23
    status Pending
32. 2018-01-23
    status Pending
33. 2018-01-23
    historical
34. 2018-01-08
    status Active
35. 2018-01-08
    status Active
36. 2018-01-04
    status Pending
37. 2018-01-04
    status Pending
38. 2017-10-23
    status Active
39. 2017-10-23
    status Active
40. 2017-10-18
    status Pending
41. 2017-10-18
    status Pending
42. 2017-10-12
    price $13,100
43. 2017-10-11
    price $13,100
44. 2017-10-03
    status Active
45. 2017-10-03
    status Active
46. 2017-09-27
    status Pending
47. 2017-09-27
    status Pending
48. 2017-09-19
    listed $15,600 Active
49. 2017-09-19
    listed $15,600 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: $1,658 · $138/mo
• Projected year-2 tax: $1,946 · $162/mo
• Expected delta: +$287/yr (+$24/mo · 17.3%)

ⓘ 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: $22,398
• − Mortgage interest: −$8,122
• − Property taxes: −$1,658
• − Insurance: −$725
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − Depreciation: −$4,218
• Taxable income: $4,091
• Est. tax owed @ 24.0%: −$982
• After-tax cash flow: $5,205/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

+829.5% since first listed

37 events — show timeline

• 2026-04-09 Price Changed $145,000 MiRealSource-MiMLS
• 2026-04-08 Price Changed $145,000 REALCOMP
• 2026-03-21 Listed $214,000 REALCOMP
• 2026-03-21 Listed $214,000 MiRealSource-MiMLS
• 2025-06-25 Listing Removed — MiRealSource-MiMLS
• 2025-04-03 Listed $215,000 REALCOMP
• 2025-04-02 Listed $215,000 MiRealSource-MiMLS
• 2018-02-23 Listing Removed — REALCOMP
• 2018-02-21 Pending — MiRealSource-MiMLS
• 2018-02-21 Pending — REALCOMP
• 2018-02-20 Relisted — MiRealSource-MiMLS
• 2018-02-20 Relisted — REALCOMP
• 2018-02-20 Listing Removed — MiRealSource-MiMLS
• 2018-02-13 Pending — MiRealSource-MiMLS
• 2018-02-13 Pending — REALCOMP
• 2018-02-05 Relisted — MiRealSource-MiMLS
• 2018-02-05 Relisted — REALCOMP
• 2018-01-26 Listing Removed — REALCOMP
• 2018-01-23 Pending — MiRealSource-MiMLS
• 2018-01-23 Pending — REALCOMP
• 2018-01-23 Listing Removed — MiRealSource-MiMLS
• 2018-01-08 Relisted — MiRealSource-MiMLS
• 2018-01-08 Relisted — REALCOMP
• 2018-01-04 Pending — MiRealSource-MiMLS
• 2018-01-04 Pending — REALCOMP
• 2017-10-23 Relisted — MiRealSource-MiMLS
• 2017-10-23 Relisted — REALCOMP
• 2017-10-18 Pending — MiRealSource-MiMLS
• 2017-10-18 Pending — REALCOMP
• 2017-10-12 Price Changed $13,100 MiRealSource-MiMLS
• 2017-10-11 Price Changed $13,100 REALCOMP
• 2017-10-03 Relisted — MiRealSource-MiMLS
• 2017-10-03 Relisted — REALCOMP
• 2017-09-27 Pending — MiRealSource-MiMLS
• 2017-09-27 Pending — REALCOMP
• 2017-09-19 Listed $15,600 MiRealSource-MiMLS
• 2017-09-19 Listed $15,600 REALCOMP

Property tax history

-0.0%/yr

Latest (2025): $1,658 · -54.2% YoY. Source: county tax records.