2965 Tuxedo St · Detroit, MI 48206

$60,000

6 bd · 2.0 ba · 2,640 sqft · MultiFamily public records · 3 Days on market

Built 1924 4,356 sqft lot ↓ 8% since listing

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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
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex featuring two 3-bedroom, 1-bath units, both fully cleaned out and taken to the studs, offering a true blank-slate renovation opportunity. Major mechanical and structural updates have already been completed, including a newer roof, windows, plumbing, electrical, furnaces, and hot water heaters. Solid brick construction provides a strong foundation, and the property is ready for interior rebuild and customization. Excellent opportunity for investors or rehabbers looking to finish and add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

Key facts

• 4,356 sq ft lot
• Built 1924
• Listed 3 days

Property features AI

Finance

• Other: Pets allowed: cats and dogs

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential; Two stories; Brick construction
• Construction: Brick/mortar foundation; Asphalt roof; Built with brick exterior
• Exterior features: Exterior lighting; Covered porch; Fenced yard; Paved road access

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Basement present
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $871/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).
• Cap rate 41.1% 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: Rents rising fast (+5.2%/yr); 271 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,729/mo this rent would consume 73% of the median local household income ($45k/yr) (locally 646% 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 + 5.2% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 4.55% ✓
• Cap rate: 41.12%
• Cash-on-cash: 124.38%
• DSCR: 6.53
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $161,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2931 Tuxedo St	0.03mi	6/2.0	2,510 (-5%)	3mo	$50,000	$20	88
2716 Elmhurst St	0.15mi	6/2.0	2,750 (+4%)	1mo	$225,000	$82	85
3025 Tuxedo St	0.06mi	6/2.5	2,548 (-4%)	5mo	$150,000	$59	85
2959 Tuxedo St	0.01mi	6/2.0	2,264 (-14%)	3mo	$181,000	$80	74
2952 Elmhurst St	0.10mi	6/2.5	2,950 (+12%)	2mo	$65,000	$22	72
3316 Sturtevant St	0.41mi	6/2.0	2,750 (+4%)	5mo	$215,000	$78	70
3740 Tyler St	0.73mi	6/2.0	2,600 (-2%)	2mo	$159,500	$61	62
3741 Tyler St	0.71mi	6/2.5	2,600 (-2%)	2mo	$15,000	$6	61
3230 Fullerton St	0.43mi	6/2.0	2,950 (+12%)	3mo	$65,000	$22	58
2424 Calvert St	0.46mi	6/2.5	2,900 (+10%)	5mo	$305,000	$105	56
3734 W Buena Vista St	0.68mi	6/2.0	2,320 (-12%)	2mo	$168,000	$72	47
4002 W Buena Vista St	0.74mi	6/2.0	3,007 (+14%)	0mo	$179,000	$60	42

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.39×
• Total profit: $107,394
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: 16.65×
• Total profit: $262,987
• 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 48206

• Rents YoY: 5.2%
• Active inventory: 271
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,729 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $1,741

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 31%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,730
Total (2 units)			$2,729

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	22d	1	0.87mi
8951 La Salle Blvd Detroit, MI	5.0	2.5	2440	$2,500	$1.02	15d	1	0.93mi
2509 Gladstone St Unit NA Detroit, MI	6.0	3.0	3008	$2,000	$0.66	10d	1	1.03mi
2028 Gladstone St Unit 1 Detroit, MI	5.0	2.0	2500	$2,850	$1.14	3d	1	1.13mi
13225 Santa Rosa Dr Detroit, MI	5.0	2.0	2100	$1,700	$0.81	5d	1	1.20mi
3799 W Philadelphia St Detroit, MI	5.0	2.0	2200	$1,650	$0.75	17d	1	1.27mi

Listing history 5 events

1. 2026-05-11
   status Pending 1099-char remark

   Show marketing remark (1099 chars)

   Duplex featuring two 3-bedroom, 1-bath units, both fully cleaned out and taken to the studs, offering a true blank-slate renovation opportunity. Major mechanical and structural updates have already been completed, including a newer roof, windows, plumbing, electrical, furnaces, and hot water heaters. Solid brick construction provides a strong foundation, and the property is ready for interior rebuild and customization. Excellent opportunity for investors or rehabbers looking to finish and add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

2. 2026-05-11
   status Pending

   Show marketing remark (1099 chars)

   Duplex featuring two 3-bedroom, 1-bath units, both fully cleaned out and taken to the studs, offering a true blank-slate renovation opportunity. Major mechanical and structural updates have already been completed, including a newer roof, windows, plumbing, electrical, furnaces, and hot water heaters. Solid brick construction provides a strong foundation, and the property is ready for interior rebuild and customization. Excellent opportunity for investors or rehabbers looking to finish and add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

3. 2026-05-08
   listed $60,000 Active 1099-char remark

   Show marketing remark (1099 chars)

   Duplex featuring two 3-bedroom, 1-bath units, both fully cleaned out and taken to the studs, offering a true blank-slate renovation opportunity. Major mechanical and structural updates have already been completed, including a newer roof, windows, plumbing, electrical, furnaces, and hot water heaters. Solid brick construction provides a strong foundation, and the property is ready for interior rebuild and customization. Excellent opportunity for investors or rehabbers looking to finish and add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

4. 2026-05-08
   listed $60,000 Active

   Show marketing remark (1099 chars)

   Duplex featuring two 3-bedroom, 1-bath units, both fully cleaned out and taken to the studs, offering a true blank-slate renovation opportunity. Major mechanical and structural updates have already been completed, including a newer roof, windows, plumbing, electrical, furnaces, and hot water heaters. Solid brick construction provides a strong foundation, and the property is ready for interior rebuild and customization. Excellent opportunity for investors or rehabbers looking to finish and add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

5. 2000-05-05
   soldstatus $65,000

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $32,748
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − Depreciation: −$1,745
• Taxable income: $21,202
• Est. tax owed @ 24.0%: −$5,088
• After-tax cash flow: $15,807/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): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

-7.7% since first listed

5 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-05-08 Listed $60,000 REALCOMP
• 2026-05-08 Listed $60,000 MiRealSource-MiMLS
• 2000-05-05 Sold (Public Records) $65,000 Public Records

Property tax history

-19.7%/yr

Latest (2025): $38 · -54.9% YoY. Source: county tax records.