14257 Steel St · Detroit, MI 28227

$35,000

2 bd · 1.0 ba · 1,027 sqft · SingleFamily public records · 114 Days on market

Built 1923 0.90 ac lot $34/sqft · 23% below area Est $45k · 23% under

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity on the west side of Detroit! 3 bed 1 bath, Huge basement.

Key facts

• 0.9 acre lot
• Built 1923
• Listed 113 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• Cap rate 33.3% 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 (+2.7%/yr); 2 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $242 of loan paydown is wiped out by about $1k 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 + 2.7% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $15k (30%) 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 $31,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% 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: 3.71% ✓
• Cap rate: 33.29%
• Cash-on-cash: 96.41%
• DSCR: 5.29
• GRM: 2.2

CMA / ARV

• ARV (median comp): $45,296
• List price: $35,000
• Delta: -22.73%
• 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
14565 Hartwell St	0.42mi	3/1.0 (+1)	900 (-12%)	3mo	$65,000	$72	52
13991 Ardmore St	0.69mi	3/1.0 (+1)	1,080 (+5%)	2mo	$10,000	$9	52
14301 Freeland St	0.72mi	3/2.0 (+1)	1,020 (-1%)	7mo	$65,000	$64	50
15061 Pinehurst St	0.65mi	2/1.0	970 (-6%)	15mo	$85,000	$88	48
13544 Mendota St	0.54mi	3/1.0 (+1)	1,080 (+5%)	16mo	$67,500	$63	48
14284 Cruse St	0.58mi	3/1.0 (+1)	1,121 (+9%)	7mo	$25,000	$22	47
14929 Birwood St	0.63mi	3/2.0 (+1)	999 (-3%)	13mo	$65,000	$65	46
14014 Washburn St	0.59mi	2/1.0	876 (-15%)	3mo	$17,000	$19	46
15061 Snowden St	0.66mi	3/1.5 (+1)	1,080 (+5%)	10mo	$37,000	$34	46
14892 Ilene St	0.70mi	3/1.0 (+1)	1,100 (+7%)	14mo	$77,000	$70	39
14871 NE Cheyenne St NW	0.46mi	3/1.0 (+1)	878 (-14%)	13mo	$69,000	$79	38
14919 Lesure St	0.69mi	3/1.0 (+1)	1,160 (+13%)	12mo	$53,000	$46	32

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 · 2.7% rent growth · sell at horizon

5-year hold

• IRR: 97.0%
• Equity multiple: 5.50×
• Total profit: $44,102
• Equity at exit: $5,219

10-year hold

• IRR: 99.6%
• Equity multiple: 11.35×
• Total profit: $101,452
• Equity at exit: $3,026

Cash invested: $9,800 (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 28227

• Rents YoY: 2.7%
• Active inventory: 2
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,297 high
• Mortgage (P&I): −$184
• Tax from tax record: −$39 /mo · $468/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $787

Break-even live

Break-even rent $300

Max offer price $35,000

Occupancy floor 34%

Sensitivity live

Price	-10% $807	-5% $797	+0% $787	+5% $777	+10% $768
Rent	-10% $685	-5% $736	+0% $787	+5% $839	+10% $890
Rate	-1.0pp $805	-0.5pp $796	base $787	+0.5pp $778	+1.0pp $769

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13965 Mendota St Detroit, MI	3.0	1.0	1222	$1,294	$1.06	18d	1	0.37mi
14847 Cheyenne St Detroit, MI	3.0	2.0	849	$1,150	$1.35	18d	1	0.46mi
14881 Mendota St Detroit, MI	3.0	1.0	1026	$1,100	$1.07	25d	1	0.57mi
14891 Hartwell St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.58mi
14284 Cruse St Detroit, MI	3.0	1.0	1121	$1,150	$1.03	17d	1	0.60mi
14903 Tracey St Detroit, MI	3.0	1.0	1004	$1,100	$1.10	17d	1	0.67mi
15088 Littlefield St Detroit, MI	2.0	1.0	1294	$1,275	$0.99	22d	1	0.68mi
14590 Ardmore St Detroit, MI	3.0	1.0	1200	$1,195	$1.00	3d	1	0.72mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	0.73mi
15388 Appoline St #203 Detroit, MI	2.0	1.0	900	$850	$0.94	44d	1	0.82mi
15340 Hartwell St Detroit, MI	2.0	1.0	900	$1,300	$1.44	17d	1	0.82mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	0.87mi
14559 Strathmoor St Detroit, MI	2.0	1.0	1033	$1,150	$1.11	21d	1	0.89mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,100	$1.00	44d	1	0.90mi
12468 Mendota St Detroit, MI	2.0	1.0	1100	$1,000	$0.91	25d	1	0.90mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	0.92mi
13331 Strathmoor St Detroit, MI	3.0	1.0	1084	$1,100	$1.01	17d	1	0.95mi
15387 Lesure St Detroit, MI	3.0	1.0	1064	$1,350	$1.27	13d	1	0.96mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	0.96mi
15738 Sorrento Ave Detroit, MI	3.0	1.0	762	$1,175	$1.54	44d	1	1.00mi
15512 Mendota St Detroit, MI	2.0	1.0	931	$1,200	$1.29	5d	1	1.00mi
15512 Mendota St Apt 2 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	1.00mi
15708 Birwood St Detroit, MI	3.0	1.0	1255	$1,100	$0.88	5d	1	1.04mi
15760 Monte Vista St Detroit, MI	2.0	1.0	1080	$1,250	$1.16	44d	1	1.05mi
15073 Strathmoor St Detroit, MI	2.0	1.0	860	$1,350	$1.57	17d	1	1.06mi
14375 Terry St Detroit, MI	3.0	2.0	1300	$1,425	$1.10	44d	1	1.07mi
15517 Lesure St Unit BDRM1A Detroit, MI	2.0	1.0	1000	$850	$0.85	25d	1	1.08mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.09mi
12703 Northlawn St Detroit, MI	2.0	1.0	1365	$1,053	$0.77	21d	1	1.13mi
14264 Coyle St Detroit, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	1.13mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	1.14mi
12754 Marlowe St Detroit, MI	3.0	2.0	1008	$1,400	$1.39	17d	1	1.14mi
15765 Washburn St Detroit, MI	2.0	1.0	1093	$950	$0.87	44d	1	1.15mi
14104 Coyle St Detroit, MI	3.0	1.0	1327	$1,350	$1.02	5d	1	1.17mi
14814 Sussex St Unit 2 Detroit, MI	3.0	1.0	1100	$1,000	$0.91	44d	1	1.25mi
14834 Sussex St Unit 3 Detroit, MI	1.0	1.0	800	$800	$1.00	44d	1	1.26mi
13279 Coyle St Detroit, MI	3.0	1.0	1444	$1,373	$0.95	44d	1	1.27mi
15777 Wisconsin St Unit 77 Detroit, MI	2.0	1.0	900	$950	$1.06	5d	1	1.29mi
15839 Kentucky St Detroit, MI	2.0	1.0	800	$1,200	$1.50	18d	1	1.29mi
15762 Mark Twain St Detroit, MI	3.0	2.0	1430	$1,250	$0.87	17d	1	1.30mi

Listing history 25 events

1. 2026-06-21
   days on market $35,000 Active 114 DOM
2. 2026-06-18
   days on market $35,000 Active 111 DOM
3. 2026-06-17
   days on market $35,000 Active 110 DOM
4. 2026-06-15
   days on market $35,000 Active 108 DOM
5. 2026-06-13
   days on market $35,000 Active 106 DOM
6. 2026-06-13
   days on market $35,000 Active 105 DOM
7. 2026-06-09
   days on market $35,000 Active 102 DOM
8. 2026-06-08
   days on market $35,000 Active 101 DOM
9. 2026-06-07
   days on market $35,000 Active 100 DOM
10. 2026-06-04
    days on market $35,000 Active 97 DOM
11. 2026-06-03
    days on market $35,000 Active 96 DOM
12. 2026-06-01
    days on market $35,000 Active 94 DOM
13. 2026-05-31
    days on market $35,000 Active 93 DOM
14. 2026-04-19
    price $35,000 80-char remark

    Show marketing remark (80 chars)

    Investment opportunity on the west side of Detroit! 3 bed 1 bath, Huge basement.

15. 2026-02-27
    listed $49,900 Active 80-char remark

    Show marketing remark (80 chars)

    Investment opportunity on the west side of Detroit! 3 bed 1 bath, Huge basement.

16. 2026-02-20
    historical
17. 2025-07-15
    listed $40,000 Active
18. 2025-07-15
    listed $40,000 Active
19. 2025-06-06
    historical
20. 2024-09-14
    price $44,400
21. 2024-09-13
    price $44,400
22. 2024-05-25
    price $44,900
23. 2024-05-24
    price $44,900
24. 2024-02-07
    listed $29,900 Active
25. 2024-02-07
    listed $29,900 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: $468 · $39/mo
• Projected year-2 tax: $504 · $42/mo
• Expected delta: +$35/yr (+$3/mo · 7.5%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 14 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: $15,562
• − Mortgage interest: −$1,961
• − Property taxes: −$468
• − Insurance: −$175
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$1,018
• Taxable income: $9,450
• Est. tax owed @ 24.0%: −$2,268
• After-tax cash flow: $7,180/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: Mecklenburg County
• City population: 572,865
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 60,482
• Household income: $77,115
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 1373.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 43% Black 29% Hispanic / Latino 19% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 8% Puerto Rican 2%
• Common ancestry: Slovak 2% Serbian 2% Scotch-Irish 1%
• Foreign-born: 17% · Canada, Philippines, Vietnam
• Languages at home: 76% English-only · Spanish 17% Other Indo-European 2% Other Asian/Pacific 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: ▼ -281.74%
• Current HPI: 257.0678
• Rent YoY: ▲ 2.70%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• 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

+17.1% since first listed

12 events — show timeline

• 2026-04-19 Price Changed $35,000 REALCOMP
• 2026-02-27 Listed $49,900 REALCOMP
• 2026-02-20 Listing Removed — MiRealSource-MiMLS
• 2025-07-15 Listed $40,000 REALCOMP
• 2025-07-15 Listed $40,000 MiRealSource-MiMLS
• 2025-06-06 Listing Removed — MiRealSource-MiMLS
• 2024-09-14 Price Changed $44,400 MiRealSource-MiMLS
• 2024-09-13 Price Changed $44,400 REALCOMP
• 2024-05-25 Price Changed $44,900 MiRealSource-MiMLS
• 2024-05-24 Price Changed $44,900 REALCOMP
• 2024-02-07 Listed $29,900 REALCOMP
• 2024-02-07 Listed $29,900 MiRealSource-MiMLS

Property tax history

+6.3%/yr

Latest (2025): $468 · -13.5% YoY. Source: county tax records.