1620 Morrell St · Detroit, MI 48209

$5,500

3 bd · 1.5 ba · 1,712 sqft · SingleFamily public records · 56 Days on market

Built 1891 8,712 sqft lot

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

Listing remarks MLS

Original structure is Single Family 3BR and 1 Bath home and includes vacant lot next door offered by Detroit Land Bank Authority. This property offers the opportunity to own two lots on stable block in up and coming neighborhood. All showings to be accompanied by real estate professional. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines. Highest & best due by Monday, 01/11/21 , 6:00 P. M.

Key facts

• 8,712 sq ft lot
• Built 1891
• Listed 56 days

🏷️ Possibly a rental listed for sale. The $5,500 price doesn't fit this home's estimated sale value (~$179,760) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $6k.

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 $6k).
• Recommended offer: $5k (3.0% below list) — sets the bar for market timing.
• Cap rate 259.4% 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: 66 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 42% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $588 of equity ($38 loan paydown + $550 appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($5k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $5,335 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 27.58% ✓
• Cap rate: 259.43%
• Cash-on-cash: 904.06%
• DSCR: 41.23
• GRM: 0.3

CMA / ARV

• ARV (on-the-fly): $179,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1538 Junction St	0.10mi	3/1.0	1,600 (-6%)	3mo	$93,000	$58	80
1519 Ferdinand St	0.10mi	4/2.0 (+1)	1,761 (+3%)	16mo	$185,000	$105	70
1521 Military St	0.41mi	4/2.0 (+1)	1,654 (-3%)	1mo	$95,000	$57	68
2048 Clarkdale St	0.40mi	4/2.5 (+1)	1,664 (-3%)	2mo	$261,000	$157	66
1980 Morrell St	0.15mi	4/1.5 (+1)	1,500 (-12%)	6mo	$225,000	$150	63
5885 Romeyn St	0.37mi	4/2.0 (+1)	1,799 (+5%)	9mo	$249,900	$139	60
2153 Hubbard St	0.55mi	4/2.0 (+1)	1,650 (-4%)	3mo	$127,500	$77	59
6244/6242 Cadet St	0.50mi	4/2.0 (+1)	1,780 (+4%)	6mo	$150,000	$84	58
1415 Campbell St	0.30mi	4/2.0 (+1)	1,941 (+13%)	9mo	$240,000	$124	49
2118 Vinewood St	0.66mi	3/1.0	1,557 (-9%)	10mo	$155,000	$100	44
1532 Livernois Ave	0.52mi	4/2.5 (+1)	1,524 (-11%)	9mo	$230,000	$151	41
1547 25th St	0.71mi	3/1.0	1,500 (-12%)	13mo	$110,000	$73	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 50.94×
• Total profit: $76,913
• Equity at exit: $4,955

10-year hold

• IRR: —
• Equity multiple: 110.37×
• Total profit: $168,430
• Equity at exit: $10,685

Cash invested: $1,540 (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 48209

• Home prices YoY: 21.8%
• Active inventory: 66
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,517 medium
• Mortgage (P&I): −$29
• Tax est. 1.5%: −$7 /mo · $82/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $1,160

Break-even live

Break-even rent $48

Max offer price $5,500

Occupancy floor 19%

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: $1,375
• Closing costs: $165
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1646 Mc Kinstry St Unit 1F McKinstry Detroit, MI	4.0	1.0	1879	$1,200	$0.64	5d	1	0.20mi
1434 Campbell St Detroit, MI	3.0	1.0	1150	$1,750	$1.52	24d	1	0.30mi
2835 23rd St Unit 2 Detroit, MI	3.0	2.0	1100	$1,450	$1.32	17d	1	1.06mi
7265 Senator St Detroit, MI	2.0	1.0	1232	$1,300	$1.06	44d	1	1.17mi

Listing history 13 events

1. 2025-06-27
   status Pending
2. 2025-03-25
   historical
3. 2024-12-17
   status Pending
4. 2022-01-05
   status Pending
5. 2021-10-26
   historical
6. 2021-02-17
   status Pending 948-char remark

   Show marketing remark (948 chars)

   Original structure is Single Family 3BR and 1 Bath home and includes vacant lot next door offered by Detroit Land Bank Authority. This property offers the opportunity to own two lots on stable block in up and coming neighborhood. All showings to be accompanied by real estate professional. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines. Highest & best due by Monday, 01/11/21 , 6:00 P. M.

7. 2021-02-17
   status Pending

   Show marketing remark (948 chars)

   Original structure is Single Family 3BR and 1 Bath home and includes vacant lot next door offered by Detroit Land Bank Authority. This property offers the opportunity to own two lots on stable block in up and coming neighborhood. All showings to be accompanied by real estate professional. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines. Highest & best due by Monday, 01/11/21 , 6:00 P. M.

8. 2021-01-13
   historical Accepting Backup Offers 948-char remark

   Show marketing remark (948 chars)

   Original structure is Single Family 3BR and 1 Bath home and includes vacant lot next door offered by Detroit Land Bank Authority. This property offers the opportunity to own two lots on stable block in up and coming neighborhood. All showings to be accompanied by real estate professional. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines. Highest & best due by Monday, 01/11/21 , 6:00 P. M.

9. 2021-01-13
   historical Accepting Backup Offers

   Show marketing remark (948 chars)

   Original structure is Single Family 3BR and 1 Bath home and includes vacant lot next door offered by Detroit Land Bank Authority. This property offers the opportunity to own two lots on stable block in up and coming neighborhood. All showings to be accompanied by real estate professional. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines. Highest & best due by Monday, 01/11/21 , 6:00 P. M.

10. 2020-12-22
    listed $5,500 Active

    Show marketing remark (948 chars)

    Original structure is Single Family 3BR and 1 Bath home and includes vacant lot next door offered by Detroit Land Bank Authority. This property offers the opportunity to own two lots on stable block in up and coming neighborhood. All showings to be accompanied by real estate professional. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines. Highest & best due by Monday, 01/11/21 , 6:00 P. M.

11. 2020-12-22
    listed $5,500 Active 948-char remark

    Show marketing remark (948 chars)

    Original structure is Single Family 3BR and 1 Bath home and includes vacant lot next door offered by Detroit Land Bank Authority. This property offers the opportunity to own two lots on stable block in up and coming neighborhood. All showings to be accompanied by real estate professional. Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and lot combinations that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing. Please refer to DLBA proposal guidelines. Highest & best due by Monday, 01/11/21 , 6:00 P. M.

12. 1996-05-10
    soldstatus $18,500
13. 1996-05-10
    soldstatus $21,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,201
• − Mortgage interest: −$308
• − Property taxes: −$82
• − Insurance: −$28
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$160
• Taxable income: $14,711
• Est. tax owed @ 24.0%: −$3,531
• After-tax cash flow: $10,392/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): 27,184
• Household income: $43,161
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 831.0

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 Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% White 17% Two or more races 14% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 58% Puerto Rican 7% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 0%
• Foreign-born: 26% · Canada
• Languages at home: 38% English-only · Spanish 62%

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: ▲ 73.77%
• Current HPI: 412.9753
• 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

-70.3% since first listed

13 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-03-25 Listing Removed — REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2022-01-05 Pending — REALCOMP
• 2021-10-26 Listing Removed — REALCOMP
• 2021-02-17 Pending — MiRealSource-MiMLS
• 2021-02-17 Pending — REALCOMP
• 2021-01-13 Contingent — MiRealSource-MiMLS
• 2021-01-13 Contingent — REALCOMP
• 2020-12-22 Listed $5,500 MiRealSource-MiMLS
• 2020-12-22 Listed $5,500 REALCOMP
• 1996-05-10 Sold (Public Records) $21,000 Public Records
• 1996-05-10 Sold (Public Records) $18,500 Public Records

Property tax history

+27.9%/yr

Latest (2019): $931 · +33.2% YoY. Source: county tax records.