5151 Yemans St · Hamtramck, MI 48212

$194,900

5 bd · 2.0 ba · 1,485 sqft · SingleFamily public records · 43 Days on market

Built 1920 3,049 sqft lot Est $238k · 18% under

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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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check Out This Spacious 5-Bedroom Income-Producing Multi-Family Home in the Heart of Hamtramck! This well-maintained property is perfect for both investors and owner-occupants seeking extra rental income! First Floor: Features 3 bedrooms, a full bathroom, a large living room, a separate dining room, and a spacious kitchen - offering excellent living space and strong rental potential. It also includes a nice-sized backyard, ideal for storage or outdoor enjoyment. Second Floor: Includes 2 bedrooms, a living room, a dining area, a kitchen, and a full bathroom - ready for immediate occupancy or rental! Property Highlights: Central air Updated furnace Newer hot water tank Solid roof Dual front entrances with separate addresses - providing privacy and flexibility for both units Prime Location: Located just minutes from Downtown Hamtramck, Downtown Detroit, City Hall, Secretary of State, grocery stores, restaurants, and more! Easy access to I-94 and I-75 makes commuting effortless. Whether you're looking to live in one unit and rent the other, or fully rent both, this home delivers space, location, and income potential! Schedule your showing today! Don't miss this amazing opportunity in the Heart of Hamtramck!

Key facts

• 3,049 sq ft lot
• Built 1920
• Listed 42 days

Property features AI

Finance

• Other: Pets allowed; Zoned for multifamily
• Financial info: Annual tax listed as $966

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property; Two stories
• Construction: Shingle siding; Above-grade finished area approximately 3,000 square feet; Built on crawl space foundation
• Exterior features: Patio

Interior

• Bedrooms: One unit is 3-bedroom
• Bathrooms: Two full bathrooms (per unit/unit total listed as 2)
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/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 $161k (17.6% below list).
• Recommended offer: $161k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.4% in Hamtramck — 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 79/100 on livability (#88 in MI, #2,005 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D, schools D-, employment F.
• Hamtramck School District (suburban): math 9% / reading 17% proficiency, ranked #519 of 540 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 166 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,605/mo this rent would consume 50% of the median local household income ($38k/yr) (locally 1175% 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 $1k of loan paydown is wiped out by about $6k 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 43 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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 $95k; list at $195k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,543 (17.6% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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 D 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. 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?
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: 0.82% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $237,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3928 Talbot St	0.41mi	4/2.0 (-1)	1,495 (+1%)	6mo	$216,500	$145	70
3970 Trowbridge St	0.18mi	4/2.0 (-1)	1,409 (-5%)	16mo	$240,000	$170	65
11357 Moran St	0.45mi	4/2.0 (-1)	1,440 (-3%)	11mo	$238,000	$165	60
11334 Klinger St	0.46mi	4/2.0 (-1)	1,612 (+9%)	0mo	$235,000	$146	59
4590 Charles St	0.70mi	5/2.5	1,437 (-3%)	3mo	$230,000	$160	58
5150 Evaline St	0.08mi	5/2.0	1,274 (-14%)	20mo	$170,000	$133	56
3416 Comstock St	0.50mi	4/2.0 (-1)	1,632 (+10%)	0mo	$203,000	$124	55
3934 Commor St	0.49mi	4/2.0 (-1)	1,400 (-6%)	10mo	$235,000	$168	54
3170 Lehman St	0.62mi	5/2.0	1,440 (-3%)	21mo	$219,300	$152	48
11621 Gallagher St	0.65mi	5/2.0	1,567 (+6%)	21mo	$270,000	$172	43
11650 Moran St	0.53mi	4/2.0 (-1)	1,368 (-8%)	18mo	$248,000	$181	42
9491 Mcdougall St	0.66mi	4/2.0 (-1)	1,320 (-11%)	21mo	$195,000	$148	28

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-25,635
• Equity at exit: $29,060

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-14,893
• Equity at exit: $16,851

Cash invested: $54,572 (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 48212

• Home prices YoY: -34.2%
• Active inventory: 166
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,605 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$70 /mo · $844/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $95

Break-even live

Break-even rent $1,486

Max offer price $194,900

Occupancy floor 89%

Sensitivity live

Price	-10% $205	-5% $150	+0% $95	+5% $40	+10% $-16
Rent	-10% $-32	-5% $31	+0% $95	+5% $158	+10% $221
Rate	-1.0pp $193	-0.5pp $144	base $95	+0.5pp $44	+1.0pp $-7

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $194,900 Active 43 DOM
2. 2026-06-17
   days on market $194,900 Active 42 DOM
3. 2026-06-16
   days on market $194,900 Active 41 DOM
4. 2026-06-15
   days on market $194,900 Active 40 DOM
5. 2026-06-13
   days on market $194,900 Active 38 DOM
6. 2026-06-09
   days on market $194,900 Active 34 DOM
7. 2026-06-08
   days on market $194,900 Active 33 DOM
8. 2026-06-07
   days on market $194,900 Active 32 DOM
9. 2026-06-04
   days on market $194,900 Active 29 DOM
10. 2026-06-03
    days on market $194,900 Active 28 DOM
11. 2026-06-02
    days on market $194,900 Active 27 DOM
12. 2026-06-01
    days on market $194,900 Active 26 DOM
13. 2026-05-31
    days on market $194,900 Active 25 DOM
14. 2026-05-07
    listed $194,900 Active 1222-char remark

    Show marketing remark (1222 chars)

    Check Out This Spacious 5-Bedroom Income-Producing Multi-Family Home in the Heart of Hamtramck! This well-maintained property is perfect for both investors and owner-occupants seeking extra rental income! First Floor: Features 3 bedrooms, a full bathroom, a large living room, a separate dining room, and a spacious kitchen - offering excellent living space and strong rental potential. It also includes a nice-sized backyard, ideal for storage or outdoor enjoyment. Second Floor: Includes 2 bedrooms, a living room, a dining area, a kitchen, and a full bathroom - ready for immediate occupancy or rental! Property Highlights: Central air Updated furnace Newer hot water tank Solid roof Dual front entrances with separate addresses - providing privacy and flexibility for both units Prime Location: Located just minutes from Downtown Hamtramck, Downtown Detroit, City Hall, Secretary of State, grocery stores, restaurants, and more! Easy access to I-94 and I-75 makes commuting effortless. Whether you're looking to live in one unit and rent the other, or fully rent both, this home delivers space, location, and income potential! Schedule your showing today! Don't miss this amazing opportunity in the Heart of Hamtramck!

15. 2026-05-07
    listed $194,900 Active

    Show marketing remark (1222 chars)

    Check Out This Spacious 5-Bedroom Income-Producing Multi-Family Home in the Heart of Hamtramck! This well-maintained property is perfect for both investors and owner-occupants seeking extra rental income! First Floor: Features 3 bedrooms, a full bathroom, a large living room, a separate dining room, and a spacious kitchen - offering excellent living space and strong rental potential. It also includes a nice-sized backyard, ideal for storage or outdoor enjoyment. Second Floor: Includes 2 bedrooms, a living room, a dining area, a kitchen, and a full bathroom - ready for immediate occupancy or rental! Property Highlights: Central air Updated furnace Newer hot water tank Solid roof Dual front entrances with separate addresses - providing privacy and flexibility for both units Prime Location: Located just minutes from Downtown Hamtramck, Downtown Detroit, City Hall, Secretary of State, grocery stores, restaurants, and more! Easy access to I-94 and I-75 makes commuting effortless. Whether you're looking to live in one unit and rent the other, or fully rent both, this home delivers space, location, and income potential! Schedule your showing today! Don't miss this amazing opportunity in the Heart of Hamtramck!

16. 2026-05-05
    historical $194,900 1222-char remark

    Show marketing remark (1222 chars)

    Check Out This Spacious 5-Bedroom Income-Producing Multi-Family Home in the Heart of Hamtramck! This well-maintained property is perfect for both investors and owner-occupants seeking extra rental income! First Floor: Features 3 bedrooms, a full bathroom, a large living room, a separate dining room, and a spacious kitchen - offering excellent living space and strong rental potential. It also includes a nice-sized backyard, ideal for storage or outdoor enjoyment. Second Floor: Includes 2 bedrooms, a living room, a dining area, a kitchen, and a full bathroom - ready for immediate occupancy or rental! Property Highlights: Central air Updated furnace Newer hot water tank Solid roof Dual front entrances with separate addresses - providing privacy and flexibility for both units Prime Location: Located just minutes from Downtown Hamtramck, Downtown Detroit, City Hall, Secretary of State, grocery stores, restaurants, and more! Easy access to I-94 and I-75 makes commuting effortless. Whether you're looking to live in one unit and rent the other, or fully rent both, this home delivers space, location, and income potential! Schedule your showing today! Don't miss this amazing opportunity in the Heart of Hamtramck!

17. 2026-05-04
    historical
18. 2026-02-19
    listed $219,000 Active
19. 2026-02-19
    listed $219,000 Active
20. 2026-02-17
    price $219,000
21. 2026-02-17
    price $219,000
22. 2026-02-17
    historical
23. 2026-02-13
    historical
24. 2025-08-16
    price $199,900
25. 2025-08-15
    price $199,900
26. 2025-08-15
    price $299,900
27. 2025-08-15
    price $299,900
28. 2025-06-27
    price $219,900
29. 2025-06-27
    price $219,900
30. 2025-06-25
    price $229,800
31. 2025-06-25
    price $229,800
32. 2025-06-03
    price $229,900
33. 2025-06-02
    price $229,900
34. 2025-05-22
    listed $250,000 Active
35. 2025-05-22
    listed $250,000 Active
36. 2006-10-10
    soldstatus $95,000
37. 2002-05-20
    soldstatus $29,700
38. 2001-11-19
    soldstatus $8,000

ⓘ 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: $844 · $70/mo
• Projected year-2 tax: $1,923 · $160/mo
• Expected delta: +$1,079/yr (+$90/mo · 127.8%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,265
• − Mortgage interest: −$10,917
• − Property taxes: −$844
• − Insurance: −$974
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$5,670
• Taxable loss: −$2,223
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $1,670/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: Hamtramck School District
• NCES district ID: 2617520
• Math proficiency: 9% ▼ -10.00%
• Reading proficiency: 17% ▼ -4.00%
• Median HH income: $24,551
• Composite: 9.65/100
• National rank: #9839
• State rank: #519 of 540 in MI

Livability — Hamtramck

• Score: 79/100
• State rank: #88
• US rank: #2005

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime D Employment F Housing A+ Health & safety B- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamtramck, MI
• County: Wayne County · 1,562,939 people
• City population: 43,384
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 43,384
• Household income: $38,186
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 1175.0

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 0.70)
• Race & ethnicity: White 43% Asian 29% Black 19% Two or more races 6%
• Common ancestry: Romanian 4% Subsaharan African 1% American 1%
• Foreign-born: 41%
• Languages at home: 36% English-only · Other Indo-European 28% Arabic 28% Russian/Polish/Slavic 6%

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: ▼ -152.41%
• Current HPI: 292.9126
• Rent YoY: —
• 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

+2336.2% since first listed

25 events — show timeline

• 2026-05-07 Listed $194,900 MiRealSource-MiMLS
• 2026-05-07 Listed $194,900 REALCOMP
• 2026-05-05 Coming Soon $194,900 MiRealSource-MiMLS
• 2026-05-04 Listing Removed — MiRealSource-MiMLS
• 2026-02-19 Listed $219,000 MiRealSource-MiMLS
• 2026-02-19 Listed $219,000 REALCOMP
• 2026-02-17 Price Changed $219,000 MiRealSource-MiMLS
• 2026-02-17 Price Changed $219,000 REALCOMP
• 2026-02-17 Coming Soon — MiRealSource-MiMLS
• 2026-02-13 Listing Removed — MiRealSource-MiMLS
• 2025-08-16 Price Changed $199,900 MiRealSource-MiMLS
• 2025-08-15 Price Changed $199,900 REALCOMP
• 2025-08-15 Price Changed $299,900 MiRealSource-MiMLS
• 2025-08-15 Price Changed $299,900 REALCOMP
• 2025-06-27 Price Changed $219,900 MiRealSource-MiMLS
• 2025-06-27 Price Changed $219,900 REALCOMP
• 2025-06-25 Price Changed $229,800 MiRealSource-MiMLS
• 2025-06-25 Price Changed $229,800 REALCOMP
• 2025-06-03 Price Changed $229,900 MiRealSource-MiMLS
• 2025-06-02 Price Changed $229,900 REALCOMP
• 2025-05-22 Listed $250,000 REALCOMP
• 2025-05-22 Listed $250,000 MiRealSource-MiMLS
• 2006-10-10 Sold (Public Records) $95,000 Public Records
• 2002-05-20 Sold (Public Records) $29,700 Public Records
• 2001-11-19 Sold (Public Records) $8,000 Public Records

Property tax history

-2.8%/yr

Latest (2025): $844 · -12.7% YoY. Source: county tax records.