2208 Collingwood St · Detroit, MI 48206

$159,000

4 bd · 1.5 ba · 1,602 sqft · SingleFamily public records · 106 Days on market

Built 1922 5,663 sqft lot $99/sqft · 34% above area Est $119k · 34% over

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Why this score? — see what drove the D 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 +21.8/30.0
• DSCR +7.0/10.0
• 1% rule +4.7/10.0
• 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

Located just three blocks from the historic Boston-Edison District, this 4-bedroom colonial offers strong upside potential in one of Detroit's most sought-after areas. Major updates include new roof, electrical panels, furnace, water heater, water lines, siding, updated kitchen, and updated half bath. Excellent opportunity for investors or buyers looking to add finishing touches and build equity near higher-value homes. With many big-ticket improvements already done, this property is well-positioned for long-term value and appreciation.

Key facts

• 5,663 sq ft lot
• Built 1922
• Listed 105 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (2.7% below list).
• Recommended offer: $145k (9.0% 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: 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.
• Zoned schools: Durfee Elementarymiddle School (593 students, 91% FRL); Central High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 353 students, 89% FRL) — zoned schools at 90% FRL track the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 275 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 41% of the median local income ($45k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y 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 $130k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 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 1922 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.65%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

• ARV (median comp): $118,717
• List price: $159,000
• Delta: 33.93%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2064 Glynn Ct	0.13mi	4/1.5	1,624 (+1%)	4mo	$118,556	$73	88
2704 Burlingame St	0.43mi	3/1.5 (-1)	1,618 (+1%)	6mo	$119,000	$74	68
2050 Atkinson St	0.50mi	4/1.5	1,624 (+1%)	8mo	$75,000	$46	68
3275 Collingwood St	0.70mi	4/1.5	1,600 (-0%)	2mo	$64,000	$40	66
2405 Sturtevant St	0.57mi	3/1.5 (-1)	1,636 (+2%)	3mo	$45,000	$28	63
2460 Atkinson St	0.54mi	3/1.5 (-1)	1,590 (-1%)	16mo	$239,000	$150	55
2437 Longfellow St	0.44mi	4/1.5	1,841 (+15%)	2mo	$135,000	$73	53
1981 Leslie St	0.68mi	3/1.5 (-1)	1,518 (-5%)	13mo	$50,000	$33	43
929 Lawrence St	0.75mi	3/1.5 (-1)	1,692 (+6%)	9mo	$205,000	$121	43
940 Burlingame St	0.75mi	3/1.0 (-1)	1,644 (+3%)	14mo	$71,000	$43	42
1220 Lawrence St	0.58mi	3/1.0 (-1)	1,382 (-14%)	5mo	$5,000	$4	39
3040 Burlingame St	0.62mi	3/2.5 (-1)	1,778 (+11%)	12mo	$275,000	$155	34

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-6,597
• Equity at exit: $23,707

10-year hold

• IRR: 8.0%
• Equity multiple: 1.66×
• Total profit: $29,312
• Equity at exit: $13,747

Cash invested: $44,520 (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: 275
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,548 high
• Mortgage (P&I): −$834
• Tax from tax record: −$76 /mo · $909/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $247

Break-even live

Break-even rent $1,235

Max offer price $159,000

Occupancy floor 79%

Sensitivity live

Price	-10% $337	-5% $292	+0% $247	+5% $202	+10% $157
Rent	-10% $125	-5% $186	+0% $247	+5% $308	+10% $369
Rate	-1.0pp $327	-0.5pp $287	base $247	+0.5pp $206	+1.0pp $164

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	17d	1	0.19mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	4d	1	0.37mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	0d	1	0.39mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	46d	1	0.39mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	15d	1	0.40mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	46d	1	0.46mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	27d	1	0.50mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	46d	1	0.50mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	19d	1	0.52mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	19d	1	0.61mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	0.65mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	6d	1	0.65mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	46d	1	0.67mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	15d	1	0.68mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	27d	1	0.72mi
2463 Taylor St Detroit, MI	3.0	1.0	1350	$1,100	$0.81	46d	1	0.72mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	27d	1	0.72mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	46d	1	0.78mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	46d	1	0.78mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	19d	1	0.78mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	19d	1	0.86mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	46d	1	1.02mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	22d	1	1.03mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	7d	1	1.03mi
2504 W Euclid St Unit 2506 Detroit, MI	3.0	1.0	1475	$1,675	$1.14	46d	1	1.06mi
2506 W Euclid St Detroit, MI	3.0	1.0	1475	$1,675	$1.14	46d	1	1.06mi
2504 W Euclid St Unit 2504 Detroit, MI	3.0	1.0	1475	$1,650	$1.12	46d	1	1.07mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	17d	1	1.18mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	4d	1	1.18mi
2047 Seward St Detroit, MI	3.0	1.0	1421	$1,453	$1.02	1d	1	1.19mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	7d	1	1.23mi
1226 Virginia Park St Unit 1226 Virginia Park, Upper V 1/10/26 (T) Detroit, MI	3.0	1.0	1100	$1,200	$1.09	46d	1	1.23mi
3209 W Grand St Detroit, MI	3.0	1.0	1550	$1,103	$0.71	46d	1	1.24mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	27d	1	1.24mi
3259 W Philadelphia St Detroit, MI	3.0	1.0	1293	$1,400	$1.08	19d	1	1.24mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	13d	1	1.27mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	19d	1	1.28mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	46d	1	1.31mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	19d	1	1.38mi
7640 Woodrow Wilson St Unit 1 Detroit, MI	3.0	1.5	1095	$1,400	$1.28	46d	1	1.39mi

Listing history 28 events

1. 2026-06-22
   days on market $159,000 Active 106 DOM
2. 2026-06-21
   days on market $159,000 Active 105 DOM
3. 2026-06-18
   days on market $159,000 Active 102 DOM
4. 2026-06-17
   days on market $159,000 Active 101 DOM
5. 2026-06-15
   days on market $159,000 Active 99 DOM
6. 2026-06-13
   days on market $159,000 Active 97 DOM
7. 2026-06-13
   days on market $159,000 Active 96 DOM
8. 2026-06-09
   days on market $159,000 Active 93 DOM
9. 2026-06-08
   days on market $159,000 Active 92 DOM
10. 2026-06-07
    days on market $159,000 Active 91 DOM
11. 2026-06-04
    days on market $159,000 Active 88 DOM
12. 2026-06-03
    days on market $159,000 Active 87 DOM
13. 2026-06-01
    days on market $159,000 Active 85 DOM
14. 2026-05-31
    days on market $159,000 Active 84 DOM
15. 2026-03-09
    listed $159,000 Active 542-char remark

    Show marketing remark (542 chars)

    Located just three blocks from the historic Boston-Edison District, this 4-bedroom colonial offers strong upside potential in one of Detroit's most sought-after areas. Major updates include new roof, electrical panels, furnace, water heater, water lines, siding, updated kitchen, and updated half bath. Excellent opportunity for investors or buyers looking to add finishing touches and build equity near higher-value homes. With many big-ticket improvements already done, this property is well-positioned for long-term value and appreciation.

16. 2026-03-09
    listed $159,000 Active 548-char remark

    Show marketing remark (542 chars)

    Located just three blocks from the historic Boston-Edison District, this 4-bedroom colonial offers strong upside potential in one of Detroit's most sought-after areas. Major updates include new roof, electrical panels, furnace, water heater, water lines, siding, updated kitchen, and updated half bath. Excellent opportunity for investors or buyers looking to add finishing touches and build equity near higher-value homes. With many big-ticket improvements already done, this property is well-positioned for long-term value and appreciation.

17. 2026-03-09
    historical $159,000 542-char remark

    Show marketing remark (542 chars)

    Located just three blocks from the historic Boston-Edison District, this 4-bedroom colonial offers strong upside potential in one of Detroit's most sought-after areas. Major updates include new roof, electrical panels, furnace, water heater, water lines, siding, updated kitchen, and updated half bath. Excellent opportunity for investors or buyers looking to add finishing touches and build equity near higher-value homes. With many big-ticket improvements already done, this property is well-positioned for long-term value and appreciation.

18. 2022-07-28
    historical
19. 2022-07-28
    historical
20. 2022-05-17
    listed $49,900 Active
21. 2022-05-17
    listed $49,900 Active
22. 2022-05-15
    historical
23. 2022-05-15
    historical
24. 2008-04-03
    historical
25. 2007-10-04
    listed $9,900
26. 2005-09-26
    soldstatus $130,000
27. 1998-08-15
    historical
28. 1998-02-15
    listed $51,900

ⓘ 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: $909 · $76/mo
• Projected year-2 tax: $1,679 · $140/mo
• Expected delta: +$770/yr (+$64/mo · 84.7%)

ⓘ 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: $18,571
• − Mortgage interest: −$8,906
• − Property taxes: −$909
• − Insurance: −$795
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$4,625
• Taxable income: $364
• Est. tax owed @ 24.0%: −$87
• After-tax cash flow: $2,874/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

+206.4% since first listed

14 events — show timeline

• 2026-03-09 Listed $159,000 MiRealSource-MiMLS
• 2026-03-09 Listed $159,000 REALCOMP
• 2026-03-09 Coming Soon $159,000 MiRealSource-MiMLS
• 2022-07-28 Listing Removed — REALCOMP
• 2022-07-28 Listing Removed — MiRealSource-MiMLS
• 2022-05-17 Listed $49,900 MiRealSource-MiMLS
• 2022-05-17 Listed $49,900 REALCOMP
• 2022-05-15 Coming Soon — MiRealSource-MiMLS
• 2022-05-15 Coming Soon — REALCOMP
• 2008-04-03 Listing Removed — REALCOMP
• 2007-10-04 Listed $9,900 REALCOMP
• 2005-09-26 Sold (Public Records) $130,000 Public Records
• 1998-08-15 Listing Removed — REALCOMP
• 1998-02-15 Listed $51,900 REALCOMP

Property tax history

-4.3%/yr

Latest (2025): $909 · -7.8% YoY. Source: county tax records.