4706 Lakeview St · Detroit, MI 48215

$25,000

4 bd · 1.5 ba · 1,615 sqft · SingleFamily public records · 33 Days on market

Built 1947 6,534 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

Listing remarks MLS

Investment opportunity New Windows including lot next door, 3 bedroom 2.5 bath with living room, kitchen, and full basement. This 2 family flat was being converted into a single family home, upstairs will need to be completed, it is also eligible for various down payment assistance programs. Schedule your showing today. This home is SOLD AS-IS WHERE IS, MEASUREMENTS ESTIMATED BATVAI. NEW CONSTRUCTION HOMES ACROSS THE STREET.

Key facts

• Single family home
• Full basement
• 2 family flat

Tags

• NEW WINDOWS
• FULL BASEMENT
• 2 FAMILY FLAT
• SINGLE FAMILY HOME
• NEW CONSTRUCTION HOMES

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $920 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 50.5% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $173 of loan paydown is wiped out by about $750 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $25k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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 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?
5. 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?
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: 5.57% ✓
• Cap rate: 50.47%
• Cash-on-cash: 157.78%
• DSCR: 8.02
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $98,515
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4830 Dickerson St	0.23mi	3/1.5 (-1)	1,542 (-4%)	2mo	$60,099	$39	75
5059 Lakeview St	0.21mi	4/1.5	1,688 (+4%)	16mo	$75,000	$44	69
4707 Lenox St	0.19mi	3/1.0 (-1)	1,442 (-11%)	14mo	$17,000	$12	54
5550 Lenox St	0.49mi	4/3.0	1,508 (-7%)	11mo	$179,900	$119	51
5517 Drexel St	0.45mi	5/2.0 (+1)	1,425 (-12%)	3mo	$65,000	$46	50
5794 Dickerson St	0.67mi	3/1.0 (-1)	1,467 (-9%)	4mo	$118,000	$80	43
4395 Maryland St	0.60mi	3/1.5 (-1)	1,840 (+14%)	1mo	$169,000	$92	43
5567 Newport St	0.48mi	3/1.5 (-1)	1,468 (-9%)	21mo	$45,000	$31	40
4821 Maryland St	0.59mi	3/1.0 (-1)	1,790 (+11%)	12mo	$112,000	$63	38
5764 Lenox St	0.63mi	4/1.0	1,401 (-13%)	18mo	$85,000	$61	31
5568 Manistique St	0.63mi	4/2.5	1,373 (-15%)	14mo	$145,000	$106	30
5974 Coplin St	0.73mi	3/2.0 (-1)	1,811 (+12%)	18mo	$85,000	$47	24

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: 8.80×
• Total profit: $54,595
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 18.59×
• Total profit: $123,126
• Equity at exit: $2,162

Cash invested: $7,000 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,392 high
• Mortgage (P&I): −$131
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $920

Break-even live

Break-even rent $227

Max offer price $25,000

Occupancy floor 29%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4251 Wayburn St Detroit, MI	3.0	1.5	1326	$1,650	$1.24	43d	1	0.62mi
5966 Eastlawn St Unit NA Detroit, MI	3.0	1.5	1366	$1,500	$1.10	24d	1	0.72mi
5747 Lakepointe St Detroit, MI	3.0	1.5	1316	$1,473	$1.12	43d	1	0.88mi
5751 Nottingham Rd Unit 5/21/26 Detroit, MI	3.0	1.0	1100	$1,250	$1.14	15d	1	0.99mi
5791 Somerset Ave Detroit, MI	3.0	2.0	1660	$1,400	$0.84	17d	1	1.07mi
9168 Wayburn St Detroit, MI	3.0	1.0	1274	$1,300	$1.02	20d	1	1.12mi
3625 Chatsworth St Detroit, MI	3.0	1.5	1182	$1,295	$1.10	24d	1	1.14mi
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	24d	1	1.16mi
9400 Lakepointe St Detroit, MI	3.0	1.0	1300	$1,150	$0.88	5d	1	1.18mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	17d	1	1.20mi
5267 Haverhill St Detroit, MI	3.0	1.5	1458	$1,300	$0.89	16d	1	1.20mi
5574 Buckingham Ave Detroit, MI	3.0	1.0	1430	$1,450	$1.01	4d	1	1.22mi
3651 Buckingham Ave Detroit, MI	3.0	1.0	1320	$1,300	$0.98	17d	1	1.22mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	43d	1	1.25mi
9409 Balfour Rd Detroit, MI	3.0	1.0	1195	$1,200	$1.00	43d	1	1.27mi
13137 Elmdale St Detroit, MI	3.0	1.0	1115	$1,400	$1.26	24d	1	1.29mi
9755 Wayburn St Detroit, MI	3.0	2.0	1498	$1,400	$0.93	3d	1	1.34mi
15857 Evanston St Detroit, MI	3.0	1.5	1232	$1,250	$1.01	5d	1	1.36mi
5045 Fairview St Detroit, MI	3.0	1.0	1303	$1,200	$0.92	43d	1	1.38mi
9984 Beaconsfield St Detroit, MI	3.0	1.0	1222	$1,575	$1.29	43d	1	1.43mi
10141 Roxbury St Detroit, MI	3.0	1.0	1115	$1,000	$0.90	43d	1	1.43mi

Listing history 8 events

1. 2025-02-16
   status Pending 428-char remark

   Show marketing remark (428 chars)

   Investment opportunity New Windows including lot next door, 3 bedroom 2.5 bath with living room, kitchen, and full basement. This 2 family flat was being converted into a single family home, upstairs will need to be completed, it is also eligible for various down payment assistance programs. Schedule your showing today. This home is SOLD AS-IS WHERE IS, MEASUREMENTS ESTIMATED BATVAI. NEW CONSTRUCTION HOMES ACROSS THE STREET.

2. 2025-02-16
   status Pending

   Show marketing remark (428 chars)

   Investment opportunity New Windows including lot next door, 3 bedroom 2.5 bath with living room, kitchen, and full basement. This 2 family flat was being converted into a single family home, upstairs will need to be completed, it is also eligible for various down payment assistance programs. Schedule your showing today. This home is SOLD AS-IS WHERE IS, MEASUREMENTS ESTIMATED BATVAI. NEW CONSTRUCTION HOMES ACROSS THE STREET.

3. 2025-01-13
   listed $25,000 Active

   Show marketing remark (428 chars)

   Investment opportunity New Windows including lot next door, 3 bedroom 2.5 bath with living room, kitchen, and full basement. This 2 family flat was being converted into a single family home, upstairs will need to be completed, it is also eligible for various down payment assistance programs. Schedule your showing today. This home is SOLD AS-IS WHERE IS, MEASUREMENTS ESTIMATED BATVAI. NEW CONSTRUCTION HOMES ACROSS THE STREET.

4. 2025-01-13
   listed $25,000 Active 428-char remark

   Show marketing remark (428 chars)

   Investment opportunity New Windows including lot next door, 3 bedroom 2.5 bath with living room, kitchen, and full basement. This 2 family flat was being converted into a single family home, upstairs will need to be completed, it is also eligible for various down payment assistance programs. Schedule your showing today. This home is SOLD AS-IS WHERE IS, MEASUREMENTS ESTIMATED BATVAI. NEW CONSTRUCTION HOMES ACROSS THE STREET.

5. 2007-06-20
   soldstatus $4,000 227-char remark

   Show marketing remark (227 chars)

   BANK OWNED FORECLOSURE SOLD AS IS ALL OFFERS MUST BE PRESENTED WITH A COPY OF THE BUYERS EMD & PROOF OF FUNDS IN ORDER TO BE SUBMITTED TO THE SELLER MEASUREMENTS ARE ESTIMATED AND SHOULD BE VERIFY BY BUYER OR BUYERS AGENT

6. 2007-05-30
   historical 227-char remark

   Show marketing remark (227 chars)

   BANK OWNED FORECLOSURE SOLD AS IS ALL OFFERS MUST BE PRESENTED WITH A COPY OF THE BUYERS EMD & PROOF OF FUNDS IN ORDER TO BE SUBMITTED TO THE SELLER MEASUREMENTS ARE ESTIMATED AND SHOULD BE VERIFY BY BUYER OR BUYERS AGENT

7. 2007-04-27
   listed $6,500 227-char remark

   Show marketing remark (227 chars)

   BANK OWNED FORECLOSURE SOLD AS IS ALL OFFERS MUST BE PRESENTED WITH A COPY OF THE BUYERS EMD & PROOF OF FUNDS IN ORDER TO BE SUBMITTED TO THE SELLER MEASUREMENTS ARE ESTIMATED AND SHOULD BE VERIFY BY BUYER OR BUYERS AGENT

8. 2005-09-23
   soldstatus $74,000

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $452 · $38/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 14 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: $16,703
• − Mortgage interest: −$1,400
• − Property taxes: −$452
• − Insurance: −$125
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$727
• Taxable income: $11,326
• Est. tax owed @ 24.0%: −$2,718
• After-tax cash flow: $8,327/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

-66.2% since first listed

8 events — show timeline

• 2025-02-16 Pending — MiRealSource-MiMLS
• 2025-02-16 Pending — REALCOMP
• 2025-01-13 Listed $25,000 REALCOMP
• 2025-01-13 Listed $25,000 MiRealSource-MiMLS
• 2007-06-20 Sold (MLS) $4,000 MiRealSource-MiMLS
• 2007-05-30 Listing Removed — MiRealSource-MiMLS
• 2007-04-27 Listed $6,500 MiRealSource-MiMLS
• 2005-09-23 Sold (Public Records) $74,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $452 · +73.1% YoY. Source: county tax records.