14741 Coram St · Detroit, MI 48205

$52,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 9 Days on market

Built 1929 0.28 ac lot Est $66k · 21% under

---

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 +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your next home at 14741 Coram St, a charming four-bedroom, two-bathroom 2 family flat that is being converted to a single-family (can easily be converted back for an investor) nestled in the heart of Detroit. Step inside to discover the convenience of rough electrical and rough plumbing throughout the entire house, ensuring a solid foundation for customization. Stay comfortable year-round with the newer furnace and hot water tank, providing reliability and peace of mind. The exterior hasn't been overlooked - the 2 car garage has received a fresh coat of paint, a new door, and a screen door for a polished look and added functionality. Additionally, the new garage roof stands testament to the care and attention given to this property.

Key facts

• Fresh coat of paint
• Newer furnace
• New garage roof

Tags

• NEWER FURNACE
• NEW HOT WATER TANK
• FRESH COAT OF PAINT
• NEW GARAGE DOOR
• NEW GARAGE ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Cap rate 20.3% 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 (+1.3%/yr); 373 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); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 41% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $360 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 + 1.3% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 3y 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 $37k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,000

Questions for the listing agent

1. Built in 1929 — 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: 2.53% ✓
• Cap rate: 20.32%
• Cash-on-cash: 50.09%
• DSCR: 3.23
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $65,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14841 Maddelein St	0.18mi	3/1.0	1,516 (+8%)	3mo	$20,000	$13	76
14973 Bringard Dr	0.57mi	3/1.5	1,431 (+2%)	2mo	$60,000	$42	66
15211 Fairmount Dr	0.51mi	3/2.0	1,500 (+7%)	1mo	$70,000	$47	60
14930 Fairmount Dr	0.42mi	3/2.0	1,270 (-9%)	3mo	$107,500	$85	58
14904 Eastburn St	0.46mi	3/1.0	1,248 (-11%)	3mo	$49,500	$40	58
15309 Mapleridge St	0.75mi	3/1.5	1,348 (-4%)	3mo	$116,000	$86	54
14119 Edmore Dr	0.69mi	3/1.0	1,278 (-9%)	2mo	$70,000	$55	51
15416 Eastwood St	0.54mi	3/1.0	1,211 (-14%)	2mo	$70,000	$58	50
15011 Bringard Dr	0.59mi	3/1.0	1,208 (-14%)	2mo	$125,000	$103	48
13900 Bringard Dr	0.72mi	3/1.5	1,242 (-11%)	2mo	$49,000	$39	44
15652 Eastwood St	0.71mi	3/1.0	1,221 (-13%)	4mo	$53,700	$44	42
20602 Regent Dr	0.75mi	3/1.5	1,222 (-13%)	3mo	$42,000	$34	40

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 · 1.33% rent growth · sell at horizon

5-year hold

• IRR: 45.8%
• Equity multiple: 2.93×
• Total profit: $28,172
• Equity at exit: $7,753

10-year hold

• IRR: 50.9%
• Equity multiple: 5.53×
• Total profit: $66,006
• Equity at exit: $4,496

Cash invested: $14,560 (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 48205

• Home prices YoY: -28.1%
• Rents YoY: 1.3%
• Active inventory: 373
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$273
• Tax from tax record: −$137 /mo · $1,648/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $608

Break-even live

Break-even rent $546

Max offer price $52,000

Occupancy floor 49%

Sensitivity live

Price	-10% $637	-5% $622	+0% $608	+5% $593	+10% $578
Rent	-10% $504	-5% $556	+0% $608	+5% $660	+10% $712
Rate	-1.0pp $634	-0.5pp $621	base $608	+0.5pp $594	+1.0pp $581

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	0.13mi
14461 Lappin St Detroit, MI	3.0	1.5	989	$1,150	$1.16	18d	1	0.20mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	44d	1	0.23mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	44d	1	0.54mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	18d	1	0.64mi
13669 Pfent St Detroit, MI	3.0	2.0	1031	$1,374	$1.33	18d	1	0.66mi
14134 Collingham Dr Detroit, MI	3.0	1.5	1300	$1,350	$1.04	44d	1	0.68mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	44d	1	0.76mi
14068 Carlisle St Detroit, MI	3.0	1.0	1020	$1,300	$1.27	25d	1	0.76mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	44d	1	0.78mi
16031 E 7 Mile Rd #5 Detroit, MI	2.0	1.0	1204	$1,200	$1.00	3d	1	0.83mi
13693 Edmore Dr Detroit, MI	3.0	1.5	1269	$1,550	$1.22	12d	1	0.85mi
15494 Mapleridge St Detroit, MI	3.0	1.0	937	$1,275	$1.36	44d	1	0.86mi
20215 Schoenherr St Unit 1 Detroit, MI	2.0	1.0	1000	$1,200	$1.20	18d	1	0.90mi
19220 Alcoy St Detroit, MI	3.0	1.0	1023	$1,350	$1.32	18d	1	0.91mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	44d	1	0.94mi
15010 Cedargrove St Detroit, MI	3.0	1.5	1018	$1,350	$1.33	44d	1	0.96mi
20227 Pelkey St Detroit, MI	3.0	1.0	968	$1,350	$1.39	18d	1	0.96mi
19170 Joann St Detroit, MI	4.0	1.0	1020	$1,400	$1.37	44d	1	0.99mi
20027 Alcoy St Detroit, MI	3.0	1.0	1000	$1,349	$1.35	18d	1	1.01mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	18d	1	1.04mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	5d	1	1.07mi
19143 Fairport St Detroit, MI	3.0	1.0	1070	$1,225	$1.14	18d	1	1.08mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	1.08mi
19610 Westphalia St Detroit, MI	3.0	1.0	1200	$1,595	$1.33	18d	1	1.09mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	25d	1	1.09mi
16446 E State Fair St Detroit, MI	2.0	1.0	1200	$1,350	$1.12	25d	1	1.10mi
19419 Westphalia St Detroit, MI	3.0	1.0	1293	$1,325	$1.02	18d	1	1.12mi
19207 Westphalia St Detroit, MI	4.0	1.0	1179	$1,800	$1.53	18d	1	1.13mi
18624 Fairport St Unit NA Detroit, MI	3.0	1.0	924	$1,450	$1.57	25d	1	1.13mi
12655 Kelly Rd Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	1.15mi
12651 Kelly Rd Unit 1 Detroit, MI	2.0	1.0	1680	$1,150	$0.68	11d	1	1.16mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.18mi
14201 Mayfield St Detroit, MI	4.0	1.5	1296	$1,250	$0.96	44d	1	1.18mi
13218 Greiner St Detroit, MI	3.0	1.0	1162	$1,195	$1.03	18d	1	1.21mi
18703 Waltham St Detroit, MI	2.0	1.0	1000	$1,100	$1.10	44d	1	1.31mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	44d	1	1.34mi
20296 Waltham St Detroit, MI	3.0	1.5	986	$1,300	$1.32	18d	1	1.35mi
12846 Georgiana Ave Warren, MI	3.0	1.0	912	$1,300	$1.43	25d	1	1.37mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	44d	1	1.37mi

Listing history 21 events

1. 2025-03-30
   status Pending 753-char remark

   Show marketing remark (753 chars)

   Welcome to your next home at 14741 Coram St, a charming four-bedroom, two-bathroom 2 family flat that is being converted to a single-family (can easily be converted back for an investor) nestled in the heart of Detroit. Step inside to discover the convenience of rough electrical and rough plumbing throughout the entire house, ensuring a solid foundation for customization. Stay comfortable year-round with the newer furnace and hot water tank, providing reliability and peace of mind. The exterior hasn't been overlooked - the 2 car garage has received a fresh coat of paint, a new door, and a screen door for a polished look and added functionality. Additionally, the new garage roof stands testament to the care and attention given to this property.

2. 2025-03-30
   status Pending 753-char remark

   Show marketing remark (753 chars)

   Welcome to your next home at 14741 Coram St, a charming four-bedroom, two-bathroom 2 family flat that is being converted to a single-family (can easily be converted back for an investor) nestled in the heart of Detroit. Step inside to discover the convenience of rough electrical and rough plumbing throughout the entire house, ensuring a solid foundation for customization. Stay comfortable year-round with the newer furnace and hot water tank, providing reliability and peace of mind. The exterior hasn't been overlooked - the 2 car garage has received a fresh coat of paint, a new door, and a screen door for a polished look and added functionality. Additionally, the new garage roof stands testament to the care and attention given to this property.

3. 2025-03-30
   status Pending

   Show marketing remark (753 chars)

   Welcome to your next home at 14741 Coram St, a charming four-bedroom, two-bathroom 2 family flat that is being converted to a single-family (can easily be converted back for an investor) nestled in the heart of Detroit. Step inside to discover the convenience of rough electrical and rough plumbing throughout the entire house, ensuring a solid foundation for customization. Stay comfortable year-round with the newer furnace and hot water tank, providing reliability and peace of mind. The exterior hasn't been overlooked - the 2 car garage has received a fresh coat of paint, a new door, and a screen door for a polished look and added functionality. Additionally, the new garage roof stands testament to the care and attention given to this property.

4. 2025-03-21
   listed $52,000 Active 753-char remark

   Show marketing remark (753 chars)

   Welcome to your next home at 14741 Coram St, a charming four-bedroom, two-bathroom 2 family flat that is being converted to a single-family (can easily be converted back for an investor) nestled in the heart of Detroit. Step inside to discover the convenience of rough electrical and rough plumbing throughout the entire house, ensuring a solid foundation for customization. Stay comfortable year-round with the newer furnace and hot water tank, providing reliability and peace of mind. The exterior hasn't been overlooked - the 2 car garage has received a fresh coat of paint, a new door, and a screen door for a polished look and added functionality. Additionally, the new garage roof stands testament to the care and attention given to this property.

5. 2025-03-21
   listed $52,000 Active 753-char remark

   Show marketing remark (753 chars)

   Welcome to your next home at 14741 Coram St, a charming four-bedroom, two-bathroom 2 family flat that is being converted to a single-family (can easily be converted back for an investor) nestled in the heart of Detroit. Step inside to discover the convenience of rough electrical and rough plumbing throughout the entire house, ensuring a solid foundation for customization. Stay comfortable year-round with the newer furnace and hot water tank, providing reliability and peace of mind. The exterior hasn't been overlooked - the 2 car garage has received a fresh coat of paint, a new door, and a screen door for a polished look and added functionality. Additionally, the new garage roof stands testament to the care and attention given to this property.

6. 2025-03-21
   listed $52,000 Active

   Show marketing remark (753 chars)

   Welcome to your next home at 14741 Coram St, a charming four-bedroom, two-bathroom 2 family flat that is being converted to a single-family (can easily be converted back for an investor) nestled in the heart of Detroit. Step inside to discover the convenience of rough electrical and rough plumbing throughout the entire house, ensuring a solid foundation for customization. Stay comfortable year-round with the newer furnace and hot water tank, providing reliability and peace of mind. The exterior hasn't been overlooked - the 2 car garage has received a fresh coat of paint, a new door, and a screen door for a polished look and added functionality. Additionally, the new garage roof stands testament to the care and attention given to this property.

7. 2025-01-01
   historical
8. 2025-01-01
   historical
9. 2024-08-06
   listed $49,999 Active
10. 2024-08-06
    listed $49,999 Active
11. 2024-06-04
    historical
12. 2024-06-04
    historical
13. 2024-04-02
    price $44,500
14. 2024-04-02
    price $44,500
15. 2024-01-30
    listed $49,999 Active
16. 2024-01-30
    listed $44,500 Active
17. 2024-01-01
    historical
18. 2023-12-31
    historical
19. 2023-11-07
    listed $58,900 Active
20. 2023-11-07
    listed $58,900 Active
21. 1991-08-21
    soldstatus $37,000

ⓘ 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: $1,648 · $137/mo
• Projected year-2 tax: $1,648 · $137/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 ≥95°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: $15,789
• − Mortgage interest: −$2,913
• − Property taxes: −$1,648
• − Insurance: −$260
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$1,513
• Taxable income: $6,929
• Est. tax owed @ 24.0%: −$1,663
• After-tax cash flow: $5,630/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): 34,187
• Household income: $38,966
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2121.0

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 (93%)
• Race & ethnicity: Black 93% White 3% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▼ -91.80%
• Current HPI: 235.0926
• Rent YoY: ▲ 1.33%
• 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

+40.5% since first listed

21 events — show timeline

• 2025-03-30 Pending — MiRealSource-MiMLS
• 2025-03-30 Pending — REALCOMP
• 2025-03-30 Pending — SW Michigan MLS
• 2025-03-21 Listed $52,000 REALCOMP
• 2025-03-21 Listed $52,000 SW Michigan MLS
• 2025-03-21 Listed $52,000 MiRealSource-MiMLS
• 2025-01-01 Listing Removed — REALCOMP
• 2025-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-08-06 Listed $49,999 MiRealSource-MiMLS
• 2024-08-06 Listed $49,999 REALCOMP
• 2024-06-04 Listing Removed — MiRealSource-MiMLS
• 2024-06-04 Listing Removed — REALCOMP
• 2024-04-02 Price Changed $44,500 REALCOMP
• 2024-04-02 Price Changed $44,500 SW Michigan MLS
• 2024-01-30 Listed $44,500 MiRealSource-MiMLS
• 2024-01-30 Listed $49,999 REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2023-12-31 Listing Removed — REALCOMP
• 2023-11-07 Listed $58,900 MiRealSource-MiMLS
• 2023-11-07 Listed $58,900 REALCOMP
• 1991-08-21 Sold (Public Records) $37,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $1,648 · -54.2% YoY. Source: county tax records.