11702 Broadstreet Ave · Detroit, MI 48204

$135,000

4 bd · 2.5 ba · 2,496 sqft · Townhouse public records · 121 Days on market

Built 1925 3,920 sqft lot $54/sqft · 77% above area

---

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 +29.8/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

Income Property! 2 Family for Sale, Good income potential. 1 owner long term, Fair to Good condition. Newer Windows, 2.5 Bath, Both units have Forced Air! Basement with Laundry hook ups and a half bath in the Basement. Both units occupied in the lower unit currently rented for $600.00. Numbers are based off the 1 unit is occupied at this time. Please contact Co-agent Dwayne Robinson for all showings-See agent only remarks. Thank you!

Key facts

• Newer windows
• Forced air
• 3,920 sq ft lot

Tags

• NEWER WINDOWS
• FORCED AIR
• BASEMENT LAUNDRY HOOK UPS
• HALF BATH IN BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

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: 244 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $1,664/mo this rent would consume 58% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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: 1.23% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.74%
• DSCR: 1.70
• GRM: 6.8

CMA / ARV

• ARV (median comp): $76,101
• List price: $135,000
• Delta: 77.40%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 3.78×
• Total profit: $105,049
• Equity at exit: $121,619

10-year hold

• IRR: 30.9%
• Equity multiple: 8.52×
• Total profit: $284,437
• Equity at exit: $262,275

Cash invested: $37,800 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$708
• Tax from tax record: −$54 /mo · $652/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $496

Break-even live

Break-even rent $1,036

Max offer price $135,000

Occupancy floor 65%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	44d	1	0.39mi
3322 Webb St Detroit, MI	3.0	1.0	1600	$1,250	$0.78	16d	1	0.52mi
3322 Webb St Unit 2 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.52mi
3322 Webb St Unit 1 Detroit, MI	3.0	1.0	1656	$1,350	$0.82	43d	1	0.52mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	5d	1	0.52mi
3241 Lawrence St Detroit, MI	4.0	2.0	2636	$1,800	$0.68	16d	1	0.62mi
3031 Lawrence St Detroit, MI	4.0	1.0	1700	$1,600	$0.94	16d	1	0.69mi
2986 Richton St Detroit, MI	3.0	1.0	2600	$1,200	$0.46	16d	1	0.75mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	24d	1	0.75mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	0.79mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	1d	1	0.93mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	16d	1	1.24mi
5315 Spokane St Detroit, MI	3.0	1.0	2110	$1,200	$0.57	16d	1	1.34mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	10d	1	1.39mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	1.39mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	1d	1	1.39mi
2509 Gladstone St Unit 1 Detroit, MI	3.0	2.0	3000	$2,650	$0.88	1d	1	1.41mi

Listing history 23 events

1. 2026-06-18
   days on market $135,000 Active 121 DOM
2. 2026-06-17
   days on market $135,000 Active 120 DOM
3. 2026-06-15
   days on market $135,000 Active 118 DOM
4. 2026-06-13
   days on market $135,000 Active 116 DOM
5. 2026-06-13
   days on market $135,000 Active 115 DOM
6. 2026-06-09
   days on market $135,000 Active 112 DOM
7. 2026-06-08
   days on market $135,000 Active 111 DOM
8. 2026-06-07
   days on market $135,000 Active 110 DOM
9. 2026-06-04
   days on market $135,000 Active 107 DOM
10. 2026-06-03
    days on market $135,000 Active 106 DOM
11. 2026-06-01
    days on market $135,000 Active 104 DOM
12. 2026-05-31
    days on market $135,000 Active 103 DOM
13. 2026-02-17
    listed $135,000 Active 438-char remark

    Show marketing remark (437 chars)

    Income Property! 2 Family for Sale, Good income potential. 1 owner long term, Fair to Good condition. Newer Windows, 2.5 Bath, Both units have Forced Air! Basement with Laundry hook ups and a half bath in the Basement. Both units occupied in the lower unit currently rented for $600.00. Numbers are based off the 1 unit is occupied at this time. Please contact Co-agent Dwayne Robinson for all showings-See agent only remarks. Thank you!

14. 2026-02-17
    listed $135,000 Active 437-char remark

    Show marketing remark (437 chars)

    Income Property! 2 Family for Sale, Good income potential. 1 owner long term, Fair to Good condition. Newer Windows, 2.5 Bath, Both units have Forced Air! Basement with Laundry hook ups and a half bath in the Basement. Both units occupied in the lower unit currently rented for $600.00. Numbers are based off the 1 unit is occupied at this time. Please contact Co-agent Dwayne Robinson for all showings-See agent only remarks. Thank you!

15. 2025-08-28
    price $99,000
16. 2025-08-27
    historical
17. 2025-08-27
    price $99,000
18. 2025-08-27
    status Active
19. 2025-03-27
    status Pending
20. 2025-03-27
    status Pending
21. 2025-03-27
    historical
22. 2024-11-13
    listed $110,000 Active
23. 2024-11-08
    listed $110,000 Active

ⓘ 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: $652 · $54/mo
• Projected year-2 tax: $1,365 · $114/mo
• Expected delta: +$714/yr (+$59/mo · 109.4%)

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

Taxation est. · year 1

• Rental income: $19,963
• − Mortgage interest: −$7,562
• − Property taxes: −$652
• − Insurance: −$675
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$3,927
• Taxable income: $3,952
• Est. tax owed @ 24.0%: −$949
• After-tax cash flow: $5,000/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): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+22.7% since first listed

11 events — show timeline

• 2026-02-17 Listed $135,000 REALCOMP
• 2026-02-17 Listed $135,000 MiRealSource-MiMLS
• 2025-08-28 Price Changed $99,000 MiRealSource-MiMLS
• 2025-08-27 Listing Removed — MiRealSource-MiMLS
• 2025-08-27 Price Changed $99,000 REALCOMP
• 2025-08-27 Relisted — REALCOMP
• 2025-03-27 Pending — MiRealSource-MiMLS
• 2025-03-27 Pending — REALCOMP
• 2025-03-27 Listing Removed — REALCOMP
• 2024-11-13 Listed $110,000 REALCOMP
• 2024-11-08 Listed $110,000 MiRealSource-MiMLS

Property tax history

-0.1%/yr

Latest (2025): $652 · -25.6% YoY. Source: county tax records.