242 E Euclid St · Detroit, MI 48202

$235,000

7 bd · 2.0 ba · 2,146 sqft · Townhouse public records · 90 Days on market

Built 1910 3,485 sqft lot $110/sqft · 14% below area Est $273k · 14% 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 +14.8/30.0
• ARV discount +13.8/15.0
• DSCR +4.5/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Rent growth +1.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom - ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

Key facts

• Modern finishes
• Turnkey opportunity
• 3,485 sq ft lot

Tags

• REMODELED MULTI-UNIT PROPERTY
• MODERN FINISHES
• PAVED TWO-CAR PARKING SLAB
• TURNKEY OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath townhouse listed at $235k.

Deal economics

• At list price, monthly cash flow is $63 ($761/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 $193k (17.8% below list).
• Recommended offer: $193k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 10.0% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Golightly Education Center (math 24% / reading 24%, grade F, #980 of 1,397 statewide, top 74%, 351 students, 81% FRL); Southeastern High School (math 5% / reading 15%, grade F, #659 of 713 statewide, top 97%, 644 students, 87% FRL).
• Market conditions: Rents falling (-5.1%/yr); 257 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 $1,931/mo this rent would consume 53% of the median local household income ($44k/yr) (locally 1258% 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 $2k of loan paydown is wiped out by about $7k 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 90 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 9y 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 $84k; list at $235k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,127 (17.8% below list)

Questions for the listing agent

1. It's been on market 90 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 1910 — 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. 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 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: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (median comp): $272,930
• List price: $235,000
• Delta: -13.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.40×
• Total profit: $-39,773
• Equity at exit: $35,039

10-year hold

• IRR: -15.9%
• Equity multiple: 0.22×
• Total profit: $-51,592
• Equity at exit: $20,319

Cash invested: $65,800 (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 48202

• Rents YoY: -5.1%
• Active inventory: 257
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,931 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$132 /mo · $1,584/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $63

Break-even live

Break-even rent $1,851

Max offer price $235,000

Occupancy floor 92%

Sensitivity live

Price	-10% $196	-5% $130	+0% $63	+5% $-3	+10% $-70
Rent	-10% $-89	-5% $-13	+0% $63	+5% $140	+10% $216
Rate	-1.0pp $182	-0.5pp $123	base $63	+0.5pp $2	+1.0pp $-59

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-05-12
   status Pending 604-char remark

   Show marketing remark (608 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom—ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

2. 2026-05-12
   status Pending 608-char remark

   Show marketing remark (608 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom—ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

3. 2026-04-02
   price $235,000 604-char remark

   Show marketing remark (608 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom—ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

4. 2026-04-02
   price $235,000 608-char remark

   Show marketing remark (608 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom—ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

5. 2026-02-11
   listed $239,000 Active 608-char remark

   Show marketing remark (604 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom - ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

6. 2026-02-11
   listed $239,000 Active 604-char remark

   Show marketing remark (604 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom - ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

7. 2026-02-11
   historical

   Show marketing remark (604 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom - ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

8. 2026-02-11
   historical

   Show marketing remark (604 chars)

   Beautifully remodeled multi-unit property featuring modern finishes in the heart of the booming North End. The lower unit offers 3 bedrooms and 1 full bathroom, while the spacious upper unit includes 4 bedrooms and 1 full bathroom - ideal for owner-occupants or investors alike. Enjoy a paved two-car parking slab in the rear plus ample on-street parking. Conveniently located within walking distance of the vibrant commercial corridor, including the new grocery store at Euclid and Woodward, with easy access to shopping, dining, and transit. A turnkey opportunity in a rapidly appreciating neighborhood

9. 2026-02-04
   listed $239,000 Active
10. 2026-02-04
    listed $239,000 Active
11. 2025-07-18
    soldstatus $84,000
12. 2025-07-14
    soldstatus $84,000 Closed
13. 2025-07-14
    soldstatus $84,000 Closed
14. 2025-07-01
    status Pending
15. 2025-07-01
    status Pending
16. 2025-07-01
    historical
17. 2025-05-31
    price $94,000
18. 2025-05-30
    price $94,000
19. 2025-05-01
    listed $99,000 Active
20. 2025-05-01
    listed $99,000 Active
21. 2022-06-25
    historical
22. 2022-06-25
    status Pending
23. 2022-06-24
    historical
24. 2022-06-23
    historical
25. 2022-04-28
    status Pending
26. 2022-04-28
    status Pending
27. 2022-04-28
    status Pending
28. 2022-04-28
    status Pending
29. 2022-04-15
    historical Accepting Backup Offers
30. 2022-04-15
    historical Accepting Backup Offers
31. 2022-04-12
    historical
32. 2022-04-12
    historical
33. 2022-04-01
    historical
34. 2022-04-01
    historical
35. 2022-04-01
    historical
36. 2022-04-01
    historical
37. 2022-03-15
    historical Accepting Backup Offers
38. 2022-03-15
    historical Accepting Backup Offers
39. 2022-03-15
    historical Accepting Backup Offers
40. 2022-03-15
    historical Accepting Backup Offers
41. 2022-03-02
    price $94,900
42. 2022-03-02
    price $94,900
43. 2022-03-02
    price $94,900
44. 2022-03-02
    price $94,900
45. 2022-03-02
    status Active
46. 2022-03-02
    status Active
47. 2022-03-02
    status Active
48. 2022-03-02
    status Active
49. 2022-02-22
    historical Accepting Backup Offers
50. 2022-02-22
    historical Accepting Backup Offers

ⓘ 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: $1,584 · $132/mo
• Projected year-2 tax: $2,602 · $217/mo
• Expected delta: +$1,017/yr (+$85/mo · 64.2%)

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,175
• − Mortgage interest: −$13,164
• − Property taxes: −$1,584
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,854
• − Management: −$1,854
• − Depreciation: −$6,836
• Taxable loss: −$3,292
• Est. tax savings @ 24.0%: +$790
• After-tax cash flow: $1,551/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): 15,780
• Household income: $43,627
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1258.0

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 0.57)
• Race & ethnicity: Black 60% White 26% Asian 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -239.24%
• Current HPI: 145.5509
• Rent YoY: ▼ -5.13%
• 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

+213.3% since first listed

74 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-04-02 Price Changed $235,000 MiRealSource-MiMLS
• 2026-04-02 Price Changed $235,000 REALCOMP
• 2026-02-11 Listed $239,000 REALCOMP
• 2026-02-11 Listing Removed — REALCOMP
• 2026-02-11 Listing Removed — MiRealSource-MiMLS
• 2026-02-11 Listed $239,000 MiRealSource-MiMLS
• 2026-02-04 Listed $239,000 REALCOMP
• 2026-02-04 Listed $239,000 MiRealSource-MiMLS
• 2025-07-18 Sold (Public Records) $84,000 Public Records
• 2025-07-14 Sold (MLS) $84,000 MiRealSource-MiMLS
• 2025-07-14 Sold (MLS) $84,000 REALCOMP
• 2025-07-01 Pending — MiRealSource-MiMLS
• 2025-07-01 Pending — REALCOMP
• 2025-07-01 Listing Removed — REALCOMP
• 2025-05-31 Price Changed $94,000 MiRealSource-MiMLS
• 2025-05-30 Price Changed $94,000 REALCOMP
• 2025-05-01 Listed $99,000 REALCOMP
• 2025-05-01 Listed $99,000 MiRealSource-MiMLS
• 2022-06-25 Listing Removed — REALCOMP
• 2022-06-25 Pending — REALCOMP
• 2022-06-24 Listing Removed — REALCOMP
• 2022-06-23 Listing Removed — REALCOMP
• 2022-04-28 Pending — MiRealSource-MiMLS
• 2022-04-28 Pending — MiRealSource-MiMLS
• 2022-04-28 Pending — REALCOMP
• 2022-04-28 Pending — REALCOMP
• 2022-04-15 Contingent — REALCOMP
• 2022-04-15 Contingent — REALCOMP
• 2022-04-12 Listing Removed — REALCOMP
• 2022-04-12 Listing Removed — REALCOMP
• 2022-04-01 Listing Removed — MiRealSource-MiMLS
• 2022-04-01 Listing Removed — MiRealSource-MiMLS
• 2022-04-01 Listing Removed — MiRealSource-MiMLS
• 2022-04-01 Listing Removed — MiRealSource-MiMLS
• 2022-03-15 Contingent — MiRealSource-MiMLS
• 2022-03-15 Contingent — MiRealSource-MiMLS
• 2022-03-15 Contingent — REALCOMP
• 2022-03-15 Contingent — REALCOMP
• 2022-03-02 Price Changed $94,900 MiRealSource-MiMLS
• 2022-03-02 Price Changed $94,900 MiRealSource-MiMLS
• 2022-03-02 Price Changed $94,900 REALCOMP
• 2022-03-02 Price Changed $94,900 REALCOMP
• 2022-03-02 Relisted — MiRealSource-MiMLS
• 2022-03-02 Relisted — MiRealSource-MiMLS
• 2022-03-02 Relisted — REALCOMP
• 2022-03-02 Relisted — REALCOMP
• 2022-02-22 Contingent — MiRealSource-MiMLS
• 2022-02-22 Contingent — MiRealSource-MiMLS
• 2022-02-22 Contingent — REALCOMP
• 2022-02-22 Contingent — REALCOMP
• 2022-01-24 Relisted — MiRealSource-MiMLS
• 2022-01-24 Relisted — MiRealSource-MiMLS
• 2022-01-24 Relisted — REALCOMP
• 2022-01-24 Relisted — REALCOMP
• 2021-12-31 Contingent — MiRealSource-MiMLS
• 2021-12-23 Listing Removed — MiRealSource-MiMLS
• 2021-12-22 Contingent — MiRealSource-MiMLS
• 2021-12-22 Contingent — REALCOMP
• 2021-12-22 Contingent — REALCOMP
• 2021-11-29 Listed $99,900 MiRealSource-MiMLS
• 2021-11-29 Listed $99,900 MiRealSource-MiMLS
• 2021-11-29 Listed $99,900 REALCOMP
• 2021-11-29 Listed $99,900 REALCOMP
• 2018-02-16 Sold (Public Records) $65,000 Public Records
• 2018-01-24 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2018-01-24 Sold (MLS) $65,000 REALCOMP
• 2017-12-21 Pending — MiRealSource-MiMLS
• 2017-12-21 Pending — REALCOMP
• 2017-11-29 Price Changed $68,000 MiRealSource-MiMLS
• 2017-11-28 Price Changed $68,000 REALCOMP
• 2017-09-26 Listed $75,000 MiRealSource-MiMLS
• 2017-09-26 Listed $75,000 REALCOMP

Property tax history

+3.9%/yr

Latest (2025): $1,584 · -8.9% YoY. Source: county tax records.