6058 Van Dyke St · Detroit, MI 48213

$59,999

3 bd · 1.0 ba · — sqft · MultiFamily · 75 Days on market

Built 1900 Poor condition 3,049 sqft lot Est $83k · 27% under ↓ 14% since listing

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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 +2.5/5.0
• Schools +1.3/10.0
• Condition / age +1.0/5.0
• 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

Discover the potential of this 2,250 sq ft commercial property on Van Dyke Ave , fully updated with modern electrical and plumbing systems throughout. The open layout offers flexibility for retail, office, or mixed-use conversion, making it ideal for investors or business owners seeking visibility in a high-traffic Detroit corridor. Convenient location close to major freeways and local businesses. Move-in ready infrastructure, awaiting your final design touch.

Key facts

• Open layout
• Convenient location
• 3,049 sq ft lot

Tags

• MODERN ELECTRICAL SYSTEMS
• MODERN PLUMBING SYSTEMS
• OPEN LAYOUT
• CONVENIENT LOCATION
• MOVE-IN READY INFRASTRUCTURE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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: 190 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• At $1,291/mo this rent would consume 46% of the median local household income ($34k/yr) (locally 1202% 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 $415 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 + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,399 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.15% ✓
• Cap rate: 18.39%
• Cash-on-cash: 43.22%
• DSCR: 2.92
• GRM: 3.9

CMA / ARV

• ARV (median comp): $82,618
• List price: $59,999
• Delta: -27.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5111 Seyburn St	0.14mi	2/2.0 (-1)	1,600	16mo	$37,000	$23	59
5015 Maxwell St	0.22mi	2/1.0 (-1)	—	21mo	$135,000	—	55
6125 Seneca St	0.58mi	4/2.0 (+1)	2,154	4mo	$25,000	$12	48
4447 Baldwin St	0.51mi	4/2.5 (+1)	1,876	6mo	$156,000	$83	48
5138 Holcomb St	0.62mi	4/2.0 (+1)	—	9mo	$70,000	—	42
4528 Van Dyke St	0.46mi	4/2.5 (+1)	1,890	20mo	$110,000	$58	38
5775 Holcomb St	0.62mi	4/2.0 (+1)	2,140	15mo	$175,000	$82	37
6108 Crane St	0.68mi	4/2.0 (+1)	2,174	20mo	$30,000	$14	30

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: 40.1%
• Equity multiple: 2.72×
• Total profit: $28,834
• Equity at exit: $8,946

10-year hold

• IRR: 46.4%
• Equity multiple: 5.45×
• Total profit: $74,809
• Equity at exit: $5,188

Cash invested: $16,800 (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 48213

• Active inventory: 190
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,291 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $605

Break-even live

Break-even rent $525

Max offer price $59,999

Occupancy floor 48%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5380 Maxwell St Unit 5380 Detroit, MI	2.0	1.0	1100	$900	$0.82	18d	1	0.14mi
5024 Seminole St Detroit, MI	3.0	1.0	—	$900	—	44d	1	0.29mi
4811 Seyburn St Detroit, MI	3.0	1.0	1196	$1,037	$0.87	17d	1	0.30mi
5858 Seneca St Detroit, MI	3.0	1.0	1348	$999	$0.74	18d	1	0.42mi
5858 Seneca St Detroit, MI	3.0	1.0	—	$999	—	24d	1	0.42mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	850	$1,100	$1.29	2d	1	0.64mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	850	$1,000	$1.18	2d	1	0.64mi
4735 Rohns St Unit 206 Detroit, MI	2.0	1.0	—	$1,400	—	44d	1	0.64mi
4735 Rohns St Unit 6A Detroit, MI	2.0	1.0	—	$1,100	—	3d	1	0.64mi
4735 Rohns St Unit 4A Detroit, MI	2.0	1.0	—	$1,000	—	3d	1	0.64mi
4169 Burns St Detroit, MI	4.0	2.5	1326	$2,300	$1.73	24d	1	0.75mi
8843 E Canfield St Detroit, MI	4.0	2.0	1200	$2,400	$2.00	44d	1	0.75mi
3980 Helen St Detroit, MI	2.0	1.0	800	$845	$1.06	17d	1	0.81mi
5342 Cooper St Detroit, MI	3.0	1.0	1125	$1,200	$1.07	24d	1	0.82mi
3631 Helen St Unit 3635 Detroit, MI	4.0	2.0	2157	$1,650	$0.76	44d	1	1.01mi
9354 Bessemore St Detroit, MI	3.0	1.0	1125	$1,294	$1.15	17d	1	1.06mi
3460 Field St Detroit, MI	2.0	1.0	1000	$1,260	$1.26	5d	1	1.07mi
8215 Badger St Detroit, MI	2.0	1.0	1000	$1,000	$1.00	15d	1	1.08mi
3475 Crane St Detroit, MI	3.0	1.5	1000	$1,338	$1.34	44d	1	1.13mi
3511 Concord Ave Detroit, MI	2.0	1.0	750	$1,100	$1.47	44d	1	1.16mi
4190 Hurlbut St Unit 2 Detroit, MI	2.0	1.0	900	$945	$1.05	15d	1	1.19mi
2972 Field St Detroit, MI	3.0	1.0	1225	$1,395	$1.14	17d	1	1.22mi
2927 Seyburn St Detroit, MI	3.0	1.5	—	$1,795	—	15d	1	1.24mi
9142 Isham Detroit, MI	3.0	1.0	1000	$1,344	$1.34	17d	1	1.29mi
3755 Ellery St Unit 1 Detroit, MI	2.0	1.0	915	$1,200	$1.31	24d	1	1.30mi
4510 Harding St Detroit, MI	2.0	2.5	—	$1,500	—	44d	1	1.32mi
4510 Harding St Detroit, MI	3.0	1.0	2394	$1,500	$0.63	17d	1	1.33mi
2921 Helen St Detroit, MI	2.0	1.0	—	$1,200	—	17d	1	1.33mi
1973 E Grand Blvd Detroit, MI	2.0	1.0	840	$1,750	$2.08	44d	1	1.36mi
4487 French Rd Detroit, MI	4.0	2.0	—	$1,800	—	5d	1	1.36mi
4487 French Rd Detroit, MI	4.0	2.0	1280	$1,800	$1.41	44d	1	1.36mi
4472 French Rd Detroit, MI	3.0	1.0	—	$1,450	—	44d	1	1.39mi
4472 French Rd Detroit, MI	3.0	1.0	—	$1,600	—	24d	1	1.39mi
3478 Ludden St Detroit, MI	2.0	1.0	2800	$1,200	$0.43	44d	1	1.41mi
2420 Field St Detroit, MI	3.0	1.5	—	$1,500	—	15d	1	1.46mi
3501 Garland St Detroit, MI	2.0	1.0	1000	$900	$0.90	24d	1	1.48mi
8193 Traverse St Detroit, MI	3.0	1.0	1055	$1,382	$1.31	17d	1	1.48mi
3495 Garland St Detroit, MI	2.0	1.0	1100	$900	$0.82	44d	1	1.48mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	44d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $59,999 Active 75 DOM
2. 2026-06-17
   days on market $59,999 Active 74 DOM
3. 2026-06-15
   days on market $59,999 Active 72 DOM
4. 2026-06-13
   days on market $59,999 Active 70 DOM
5. 2026-06-13
   days on market $59,999 Active 69 DOM
6. 2026-06-09
   days on market $59,999 Active 66 DOM
7. 2026-06-08
   days on market $59,999 Active 65 DOM
8. 2026-06-07
   days on market $59,999 Active 64 DOM
9. 2026-06-04
   days on market $59,999 Active 61 DOM
10. 2026-06-03
    days on market $59,999 Active 60 DOM
11. 2026-06-02
    days on market $59,999 Active 59 DOM
12. 2026-06-01
    days on market $59,999 Active 58 DOM
13. 2026-05-31
    days on market $59,999 Active 57 DOM
14. 2026-04-29
    price $59,999 464-char remark

    Show marketing remark (464 chars)

    Discover the potential of this 2,250 sq ft commercial property on Van Dyke Ave , fully updated with modern electrical and plumbing systems throughout. The open layout offers flexibility for retail, office, or mixed-use conversion, making it ideal for investors or business owners seeking visibility in a high-traffic Detroit corridor. Convenient location close to major freeways and local businesses. Move-in ready infrastructure, awaiting your final design touch.

15. 2026-04-29
    price $59,999 464-char remark

    Show marketing remark (464 chars)

    Discover the potential of this 2,250 sq ft commercial property on Van Dyke Ave , fully updated with modern electrical and plumbing systems throughout. The open layout offers flexibility for retail, office, or mixed-use conversion, making it ideal for investors or business owners seeking visibility in a high-traffic Detroit corridor. Convenient location close to major freeways and local businesses. Move-in ready infrastructure, awaiting your final design touch.

16. 2026-04-11
    price $64,999 464-char remark

    Show marketing remark (464 chars)

    Discover the potential of this 2,250 sq ft commercial property on Van Dyke Ave , fully updated with modern electrical and plumbing systems throughout. The open layout offers flexibility for retail, office, or mixed-use conversion, making it ideal for investors or business owners seeking visibility in a high-traffic Detroit corridor. Convenient location close to major freeways and local businesses. Move-in ready infrastructure, awaiting your final design touch.

17. 2026-04-11
    price $64,999 464-char remark

    Show marketing remark (464 chars)

    Discover the potential of this 2,250 sq ft commercial property on Van Dyke Ave , fully updated with modern electrical and plumbing systems throughout. The open layout offers flexibility for retail, office, or mixed-use conversion, making it ideal for investors or business owners seeking visibility in a high-traffic Detroit corridor. Convenient location close to major freeways and local businesses. Move-in ready infrastructure, awaiting your final design touch.

18. 2026-04-05
    listed $69,999 Active 464-char remark

    Show marketing remark (464 chars)

    Discover the potential of this 2,250 sq ft commercial property on Van Dyke Ave , fully updated with modern electrical and plumbing systems throughout. The open layout offers flexibility for retail, office, or mixed-use conversion, making it ideal for investors or business owners seeking visibility in a high-traffic Detroit corridor. Convenient location close to major freeways and local businesses. Move-in ready infrastructure, awaiting your final design touch.

19. 2026-04-05
    listed $69,999 Active 464-char remark

    Show marketing remark (464 chars)

    Discover the potential of this 2,250 sq ft commercial property on Van Dyke Ave , fully updated with modern electrical and plumbing systems throughout. The open layout offers flexibility for retail, office, or mixed-use conversion, making it ideal for investors or business owners seeking visibility in a high-traffic Detroit corridor. Convenient location close to major freeways and local businesses. Move-in ready infrastructure, awaiting your final design touch.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,489
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$1,745
• Taxable income: $6,705
• Est. tax owed @ 24.0%: −$1,609
• After-tax cash flow: $5,652/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This 2,250 sq ft commercial property requires extensive repairs and updates to its exterior, roof, and windows. Immediate attention to these areas will significantly improve its resale and rental value.

Repairs flagged

• Major roof — Damaged or missing shingles
• Major exterior siding — Weathered red siding
• Major windows — Missing or damaged windows

Value-add opportunities

• Both landscaping and curb appeal — Improves aesthetics and first impression
• Both roof repair — Essential for structural integrity and water resistance
• Both exterior siding repair — Enhances curb appeal and protects against weather

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Damaged or missing shingles	Major	$15,000–50,000
exterior siding · Weathered red siding	Major	$15,000–50,000
windows · Missing or damaged windows	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both landscaping and curb appeal — Improves aesthetics and first impression ↑
• Both roof repair — Essential for structural integrity and water resistance ↑
• Both exterior siding repair — Enhances curb appeal and protects against weather ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

-14.3% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $59,999 MiRealSource-MiMLS
• 2026-04-29 Price Changed $59,999 REALCOMP
• 2026-04-11 Price Changed $64,999 MiRealSource-MiMLS
• 2026-04-11 Price Changed $64,999 REALCOMP
• 2026-04-05 Listed $69,999 MiRealSource-MiMLS
• 2026-04-05 Listed $69,999 REALCOMP