2237 W Grand Blvd · Detroit, MI 48238

$124,900

6 bd · 2.5 ba · 2,600 sqft · Townhouse public records · 114 Days on market

Built 1925 4,356 sqft lot $48/sqft · 26% above area Est $99k · 26% over ↓ 11% since listing

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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
• Rent growth +4.0/5.0
• 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

Beautiful location on Grand Boulevard . .. Great opportunity for investors or owner-occupants roughly 3438 sq ft of living space, featuring generous living areas and comfortable bedroom sizes that appeal to both tenants and homeowners. Within walking distance to Henry Ford Hospital and to the Motown Museum. (see image #3) at $43/sf this is an opportunity. .. a blank canvas for anyone to create their dreams. Location is amazing, across the street is new renovation, next door is new renovation. .. . Open house on Sunday 3/1/2026 11:00am-2:00pm, we will have fresh baked cookies and refreshments. .. .

Key facts

• 4,356 sq ft lot
• Built 1925
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $712 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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: Rents rising fast (+6.1%/yr); 346 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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).
• At $1,922/mo this rent would consume 69% of the median local household income ($33k/yr) (locally 2172% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 6.1% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,659 (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 1925 — 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: 1.54% ✓
• Cap rate: 13.13%
• Cash-on-cash: 24.43%
• DSCR: 2.09
• GRM: 5.4

CMA / ARV

• ARV (median comp): $99,476
• List price: $124,900
• Delta: 25.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.90×
• Total profit: $31,355
• Equity at exit: $18,623

10-year hold

• IRR: 31.2%
• Equity multiple: 4.23×
• Total profit: $113,067
• Equity at exit: $10,799

Cash invested: $34,972 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$655
• Tax from tax record: −$99 /mo · $1,190/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $712

Break-even live

Break-even rent $1,020

Max offer price $124,900

Occupancy floor 58%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.25mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	1d	1	1.33mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	14d	1	1.33mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.41mi
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	10d	1	1.49mi

Listing history 20 events

1. 2026-06-17
   statusdays on market $124,900 Pending 114 DOM
2. 2026-06-15
   days on market $124,900 Active 113 DOM
3. 2026-06-13
   days on market $124,900 Active 111 DOM
4. 2026-06-13
   days on market $124,900 Active 110 DOM
5. 2026-06-09
   days on market $124,900 Active 107 DOM
6. 2026-06-08
   days on market $124,900 Active 106 DOM
7. 2026-06-07
   days on market $124,900 Active 105 DOM
8. 2026-06-04
   days on market $124,900 Active 102 DOM
9. 2026-06-03
   days on market $124,900 Active 101 DOM
10. 2026-06-01
    days on market $124,900 Active 99 DOM
11. 2026-05-31
    days on market $124,900 Active 98 DOM
12. 2026-04-22
    price $124,900 605-char remark

    Show marketing remark (605 chars)

    Beautiful location on Grand Boulevard . .. Great opportunity for investors or owner-occupants roughly 3438 sq ft of living space, featuring generous living areas and comfortable bedroom sizes that appeal to both tenants and homeowners. Within walking distance to Henry Ford Hospital and to the Motown Museum. (see image #3) at $43/sf this is an opportunity. .. a blank canvas for anyone to create their dreams. Location is amazing, across the street is new renovation, next door is new renovation. .. . Open house on Sunday 3/1/2026 11:00am-2:00pm, we will have fresh baked cookies and refreshments. .. .

13. 2026-02-23
    listed $149,900 Active 605-char remark

    Show marketing remark (605 chars)

    Beautiful location on Grand Boulevard . .. Great opportunity for investors or owner-occupants roughly 3438 sq ft of living space, featuring generous living areas and comfortable bedroom sizes that appeal to both tenants and homeowners. Within walking distance to Henry Ford Hospital and to the Motown Museum. (see image #3) at $43/sf this is an opportunity. .. a blank canvas for anyone to create their dreams. Location is amazing, across the street is new renovation, next door is new renovation. .. . Open house on Sunday 3/1/2026 11:00am-2:00pm, we will have fresh baked cookies and refreshments. .. .

14. 2025-09-11
    soldstatus $131,500
15. 2025-08-26
    soldstatus $131,500 Closed 771-char remark

    Show marketing remark (771 chars)

    This duplex offers a great opportunity for investors or multi-family living. Each unit features three bedrooms, one full bath, and approximately 1,300 square feet of living space. The layout includes spacious living areas and well-sized bedrooms, making it a functional and appealing space for tenants or homeowners alike. Some major updates have already been taken care of, including a newer furnace and water heater, along with some updated windows. This property provides a great opportunity to make it your own, the fundamentals are strong, offering a fantastic chance to build equity with the right improvements. Whether you're looking to live in one unit and rent the other or expand your rental portfolio, this duplex has strong income potential in a growing area.

16. 2025-08-26
    soldstatus $131,500 Closed

    Show marketing remark (771 chars)

    This duplex offers a great opportunity for investors or multi-family living. Each unit features three bedrooms, one full bath, and approximately 1,300 square feet of living space. The layout includes spacious living areas and well-sized bedrooms, making it a functional and appealing space for tenants or homeowners alike. Some major updates have already been taken care of, including a newer furnace and water heater, along with some updated windows. This property provides a great opportunity to make it your own, the fundamentals are strong, offering a fantastic chance to build equity with the right improvements. Whether you're looking to live in one unit and rent the other or expand your rental portfolio, this duplex has strong income potential in a growing area.

17. 2025-06-09
    status Pending 771-char remark

    Show marketing remark (771 chars)

    This duplex offers a great opportunity for investors or multi-family living. Each unit features three bedrooms, one full bath, and approximately 1,300 square feet of living space. The layout includes spacious living areas and well-sized bedrooms, making it a functional and appealing space for tenants or homeowners alike. Some major updates have already been taken care of, including a newer furnace and water heater, along with some updated windows. This property provides a great opportunity to make it your own, the fundamentals are strong, offering a fantastic chance to build equity with the right improvements. Whether you're looking to live in one unit and rent the other or expand your rental portfolio, this duplex has strong income potential in a growing area.

18. 2025-06-09
    status Pending

    Show marketing remark (771 chars)

    This duplex offers a great opportunity for investors or multi-family living. Each unit features three bedrooms, one full bath, and approximately 1,300 square feet of living space. The layout includes spacious living areas and well-sized bedrooms, making it a functional and appealing space for tenants or homeowners alike. Some major updates have already been taken care of, including a newer furnace and water heater, along with some updated windows. This property provides a great opportunity to make it your own, the fundamentals are strong, offering a fantastic chance to build equity with the right improvements. Whether you're looking to live in one unit and rent the other or expand your rental portfolio, this duplex has strong income potential in a growing area.

19. 2025-05-29
    listed $140,000 Active

    Show marketing remark (771 chars)

    This duplex offers a great opportunity for investors or multi-family living. Each unit features three bedrooms, one full bath, and approximately 1,300 square feet of living space. The layout includes spacious living areas and well-sized bedrooms, making it a functional and appealing space for tenants or homeowners alike. Some major updates have already been taken care of, including a newer furnace and water heater, along with some updated windows. This property provides a great opportunity to make it your own, the fundamentals are strong, offering a fantastic chance to build equity with the right improvements. Whether you're looking to live in one unit and rent the other or expand your rental portfolio, this duplex has strong income potential in a growing area.

20. 2025-05-29
    listed $140,000 Active 771-char remark

    Show marketing remark (771 chars)

    This duplex offers a great opportunity for investors or multi-family living. Each unit features three bedrooms, one full bath, and approximately 1,300 square feet of living space. The layout includes spacious living areas and well-sized bedrooms, making it a functional and appealing space for tenants or homeowners alike. Some major updates have already been taken care of, including a newer furnace and water heater, along with some updated windows. This property provides a great opportunity to make it your own, the fundamentals are strong, offering a fantastic chance to build equity with the right improvements. Whether you're looking to live in one unit and rent the other or expand your rental portfolio, this duplex has strong income potential in a growing area.

ⓘ 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: $1,190 · $99/mo
• Projected year-2 tax: $1,557 · $130/mo
• Expected delta: +$367/yr (+$31/mo · 30.8%)

ⓘ 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: $23,059
• − Mortgage interest: −$6,996
• − Property taxes: −$1,190
• − Insurance: −$624
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$3,633
• Taxable income: $6,925
• Est. tax owed @ 24.0%: −$1,662
• After-tax cash flow: $6,880/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

-10.8% since first listed

9 events — show timeline

• 2026-04-22 Price Changed $124,900 REALCOMP
• 2026-02-23 Listed $149,900 REALCOMP
• 2025-09-11 Sold (Public Records) $131,500 Public Records
• 2025-08-26 Sold (MLS) $131,500 REALCOMP
• 2025-08-26 Sold (MLS) $131,500 MiRealSource-MiMLS
• 2025-06-09 Pending — MiRealSource-MiMLS
• 2025-06-09 Pending — REALCOMP
• 2025-05-29 Listed $140,000 REALCOMP
• 2025-05-29 Listed $140,000 MiRealSource-MiMLS

Property tax history

+0.8%/yr

Latest (2025): $1,190 · -11.4% YoY. Source: county tax records.