926 Navahoe St · Detroit, MI 48215

$19,900

4 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 4 Days on market

Built 1923 3,485 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Subject address is included as part of a 3 Property Bundle Sale Totaling $12,000. Each deed shall represent a sale price of $4,000/property. HOMES ARE NOT BEING SOLD INDIVIDUALLY, NO EXCEPTIONS. Addresses included: 993 Algonquin, 680 Algonquin and 926 Navahoe. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. The sale of said property is open to homeowners, investors and developers. The Seller will consider a rehab proposal. Seller Addendum's to be provided upon acceptance of qualifying offer. This sale is contingent upon Buyer & Seller execution of a Development Agreement. Contact agent with additional questions. See attachments for Offer Requirements. BTVAI

Key facts

• Near detroit river
• 3,485 sq ft lot
• Built 1923

Tags

• SIDE-BY-SIDE DUPLEXES
• UNIQUE WATERFRONT COMMUNITIES
• NEAR DETROIT RIVER

Property features AI

Finance

• Financial info: Two-unit property; Reported net operating income: 0

Exterior

• Utilities: Public water; Natural gas; Forced air heating
• Home design: Duplex multi-family property; 2-story; Built in 1923; Residential zoning
• Construction: Brick construction; Basement foundation
• Exterior features: Brick exterior; Paved street frontage

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Poured basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $20k.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 67.2% 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: 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $4k; list at $20k implies a 398% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; flood insurance adds $460/mo; built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $19,900

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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 7.52% ✓
• Cap rate: 67.21%
• Cash-on-cash: 217.57%
• DSCR: 10.68
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $227,808
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1108 Coplin St	0.44mi	4/2.0	1,954 (-3%)	14mo	$221,000	$113	63
13329 Averhill Ct	0.68mi	4/2.0	2,038 (+1%)	21mo	$155,000	$76	49

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: —
• Equity multiple: 6.76×
• Total profit: $32,122
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 14.35×
• Total profit: $74,392
• Equity at exit: $1,721

Cash invested: $5,572 (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: 1.1×

Monthly cashflow live

• Estimated rent: $1,496 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$59 /mo · $707/yr
• Insurance: −$8
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $550

Break-even live

Break-even rent $800

Max offer price $19,900

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2174 Springle St Detroit, MI	3.0	1.0	2256	$1,150	$0.51	2d	1	0.56mi
371 Piper Blvd Detroit, MI	3.0	1.5	2340	$2,000	$0.85	44d	1	0.78mi

Listing history 7 events

1. 2026-06-18
   days on market $19,900 Active 4 DOM
2. 2026-06-17
   days on market $19,900 Active 3 DOM
3. 2026-06-16
   days on market $19,900 Active 2 DOM
4. 2026-06-15
   days on marketlisting id $19,900 Active 1 DOM
5. 2026-06-15
   days on market $19,900 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $19,900 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: $707 · $59/mo
• Projected year-2 tax: $707 · $59/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 6/10 Major FEMA zone AE · 72% 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: $17,952
• − Mortgage interest: −$1,115
• − Property taxes: −$707
• − Insurance: −$5,624
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − Depreciation: −$579
• Taxable income: $7,055
• Est. tax owed @ 24.0%: −$1,693
• After-tax cash flow: $4,905/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

+397.5% since first listed

17 events — show timeline

• 2026-06-12 Listed $19,900 MiRealSource-MiMLS
• 2022-02-14 Sold (MLS) $4,000 MiRealSource-MiMLS
• 2022-02-14 Sold (MLS) $4,000 REALCOMP
• 2021-10-15 Pending — REALCOMP
• 2021-10-12 Listing Removed — REALCOMP
• 2021-09-20 Pending — REALCOMP
• 2021-09-14 Listing Removed — REALCOMP
• 2021-03-05 Pending — REALCOMP
• 2021-03-02 Listing Removed — REALCOMP
• 2020-05-08 Pending — REALCOMP
• 2020-05-05 Listing Removed — REALCOMP
• 2020-02-14 Pending — REALCOMP
• 2020-02-13 Listing Removed — REALCOMP
• 2019-11-07 Pending — MiRealSource-MiMLS
• 2019-11-07 Pending — REALCOMP
• 2019-06-25 Listed $4,000 MiRealSource-MiMLS
• 2019-06-25 Listed $4,000 REALCOMP

Property tax history

-1.8%/yr

Latest (2025): $707 · -64.4% YoY. Source: county tax records.