3419 Algonquin St · Detroit, MI 48215

$70,000

3 bd · 1.0 ba · 1,211 sqft · SingleFamily public records · 1 Days on market

Built 1923 4,356 sqft lot Est $61k · 16% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors, flippers, and savvy buyers! Bring your toolbelt and your vision to this 1923-built traditional 2-story home in Detroit's Riverbend neighborhood. Offering 3 bedrooms, 1 bathroom, and just over 1,200 square feet of living space, this property is the perfect addition to a rental portfolio or your next fix-and-flip project.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1923

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Natural gas connected
• Home design: Contemporary single family home; Built in 1923
• Construction: Wood siding; Composition roof; Built 1923
• Exterior features: Paved road access; 0.1 acre lot

Interior

• Kitchen: Kitchen (12 x 14)
• Bedrooms: Primary Bedroom (11 x 11); Bedroom 2 (11 x 10); Bedroom 3 (10 x 10)
• Bathrooms: 1 full bathroom (primary bathroom 11 x 10)
• Heating & cooling: Forced air heating
• Interior features: 6 total rooms; Storm windows and screens; Full basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 12.2% vs local median 10.2% in Detroit — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 137 active listings in the ZIP; 31 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 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 + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 2y 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 $40k; list at $70k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.78% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.26%
• DSCR: 1.95
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $60,550
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3419 Algonquin St	0.00mi	3/1.0	1,211 (0%)	22mo	$40,000	$33	82
3111 Lenox St	0.24mi	3/1.0	1,200 (-1%)	9mo	$25,000	$21	80
3964 Lenox St	0.35mi	2/1.0 (-1)	1,100 (-9%)	4mo	$55,000	$50	60
4194 Algonquin St	0.32mi	3/1.0	1,040 (-14%)	5mo	$69,000	$66	57
4315 Algonquin St	0.39mi	3/1.0	1,040 (-14%)	10mo	$59,500	$57	49
4809 Maynard St	0.69mi	3/1.0	1,136 (-6%)	20mo	$45,000	$40	41
4312 Gray St	0.42mi	3/1.5	1,336 (+10%)	24mo	$57,000	$43	41
12544 E Canfield St	0.51mi	4/1.0 (+1)	1,083 (-11%)	16mo	$90,000	$83	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.56×
• Total profit: $10,884
• Equity at exit: $10,437

10-year hold

• IRR: 22.8%
• Equity multiple: 2.96×
• Total profit: $38,412
• Equity at exit: $6,052

Cash invested: $19,600 (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 48215

• Home prices YoY: -24.1%
• Active inventory: 137
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$367
• Tax from tax record: −$240 /mo · $2,886/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $347

Break-even live

Break-even rent $806

Max offer price $70,000

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15111 E Vernor Hwy Unit 6 Detroit, MI	2.0	1.0	900	$1,200	$1.33	24d	1	0.85mi
3937 Beniteau St Unit 1 Detroit, MI	2.0	1.0	1250	$900	$0.72	43d	1	0.88mi
3937 Beniteau St Detroit, MI	2.0	1.0	900	$950	$1.06	15d	1	0.88mi
4055 Beniteau St Detroit, MI	2.0	1.0	1000	$900	$0.90	17d	1	0.93mi
1367 Wayburn St Unit 1 Grosse Pointe Park, MI	3.0	1.0	816	$1,250	$1.53	43d	1	1.01mi
1348 Wayburn St Grosse Pointe, MI	3.0	2.0	1035	$2,200	$2.13	24d	1	1.04mi
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	43d	1	1.04mi
1415 Maryland St Grosse Pointe Park, MI	3.0	1.0	700	$1,275	$1.82	43d	1	1.05mi
3049 Montclair St Unit 1 Detroit, MI	2.0	1.0	850	$950	$1.12	43d	1	1.07mi
1050 Lakewood St Unit 1S Detroit, MI	2.0	1.0	896	$1,100	$1.23	43d	1	1.08mi
1314 Maryland St Grosse Pointe Park, MI	2.0	1.0	1008	$1,250	$1.24	43d	1	1.11mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	3d	1	1.11mi
1300 Maryland St Grosse Pointe Park, MI	2.0	1.0	900	$1,200	$1.33	21d	1	1.11mi
1042 Wayburn St Grosse Pointe Park, MI	3.0	1.0	1000	$1,575	$1.57	5d	1	1.26mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	43d	1	1.26mi
875 Philip St Detroit, MI	3.0	1.0	1353	$1,400	$1.03	43d	1	1.27mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	1.28mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	43d	1	1.28mi
4151 Nottingham Rd Detroit, MI	2.0	1.0	1022	$1,275	$1.25	17d	1	1.28mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	1.28mi
1236 Beaconsfield Ave Unit 1 Grosse Pointe Park, MI	2.0	1.0	1100	$1,600	$1.45	24d	1	1.28mi
4391 Nottingham Rd Unit 4393 Detroit, MI	2.0	1.0	1038	$950	$0.92	5d	1	1.33mi
1312 Somerset Ave Grosse Pointe Park, MI	2.0	1.0	1200	$1,400	$1.17	16d	1	1.36mi
3032 Hurlbut St Unit 1 Detroit, MI	2.0	1.0	950	$900	$0.95	3d	1	1.38mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.41mi
1052 Beaconsfield Ave Grosse Pointe Park, MI	2.0	1.0	1000	$1,350	$1.35	17d	1	1.43mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.44mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	1.44mi
2544 Cadillac Blvd Unit 2 Detroit, MI	2.0	1.0	973	$825	$0.85	24d	1	1.46mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	24d	1	1.46mi
734 Ashland St Detroit, MI	3.0	1.0	1110	$1,300	$1.17	21d	1	1.46mi

Listing history 2 events

1. 2026-06-19
   remarks 342-char remark
2. 2026-06-19
   listed $70,000 Active 1 DOM

ⓘ 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: $2,886 · $240/mo
• Projected year-2 tax: $2,886 · $240/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 3/10 Moderate FEMA zone X (unshaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,946
• − Mortgage interest: −$3,921
• − Property taxes: −$2,886
• − Insurance: −$350
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,036
• Taxable income: $3,362
• Est. tax owed @ 24.0%: −$807
• After-tax cash flow: $3,360/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
• City population: 572,865
• Population (ZIP): 10,238

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 (87%)
• Race & ethnicity: Black 87% White 9% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -60.84%
• Current HPI: 191.0405
• Rent YoY: —
• Metro: —
• 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

+16.7% since first listed

27 events — show timeline

• 2026-06-18 Listed $70,000 MiRealSource-MiMLS
• 2026-06-18 Listed $70,000 SW Michigan MLS
• 2026-06-18 Listed $70,000 REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2024-09-05 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2024-09-05 Sold (MLS) $40,000 REALCOMP
• 2024-08-28 Pending — REALCOMP
• 2024-08-28 Pending — MiRealSource-MiMLS
• 2024-08-22 Price Changed $49,999 MiRealSource-MiMLS
• 2024-08-22 Price Changed $49,999 REALCOMP
• 2024-08-20 Price Changed $59,999 MiRealSource-MiMLS
• 2024-08-20 Price Changed $59,999 REALCOMP
• 2024-08-20 Price Changed $49,999 MiRealSource-MiMLS
• 2024-08-20 Listed $49,999 MiRealSource-MiMLS
• 2024-08-20 Listed $49,999 REALCOMP
• 2024-08-19 Price Changed $49,999 REALCOMP
• 2024-08-19 Listing Removed — MiRealSource-MiMLS
• 2024-08-19 Relisted — REALCOMP
• 2024-07-31 Listing Removed — REALCOMP
• 2024-06-15 Pending — MiRealSource-MiMLS
• 2024-06-15 Pending — REALCOMP
• 2024-04-16 Relisted — MiRealSource-MiMLS
• 2024-04-16 Relisted — REALCOMP
• 2024-04-04 Pending — MiRealSource-MiMLS
• 2024-04-04 Pending — REALCOMP
• 2024-02-17 Listed $60,000 MiRealSource-MiMLS
• 2024-02-17 Listed $60,000 REALCOMP

Property tax history

+7.9%/yr

Latest (2025): $2,886 · +508.8% YoY. Source: county tax records.