15860 Joy Rd · Detroit, MI 48228

$4,000,000

5760 bd · 3600.0 ba · 84,557 sqft · MultiFamily · 229 Days on market

Built 1951 Good condition 1.72 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.2/5.0
• Livability +3.7/5.0
• Rent growth +1.9/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 60 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Key facts

• New plumbing
• Recently remodeled
• New gutter

Tags

• RECENTLY REMODELED
• NEW ROOF
• NEW WINDOWS
• NEW GUTTER
• NEW PLUMBING
• NEW HEATING SYSTEM

What this means for you Summary

Snapshot

• This is a 36×2bd/2ba + 24×1bd/1ba units multifamily listed at $4.00M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $29k ($345k/yr) — positive. Per door: $479/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($71k rent vs $4.00M).
• Recommended offer: $3.52M (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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 soft (-2.3%/yr); 363 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 $71,364/mo this rent would consume 2791% of the median local household income ($31k/yr) (locally 4144% 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 $28k of loan paydown is wiped out by about $120k 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 + 0.0% rent growth), your $1.12M cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($3.52M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $800k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,520,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.78% ✓
• Cap rate: 14.91%
• Cash-on-cash: 30.79%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.1%
• Equity multiple: 1.87×
• Total profit: $973,878
• Equity at exit: $596,413

10-year hold

• IRR: 28.1%
• Equity multiple: 3.14×
• Total profit: $2,400,730
• Equity at exit: $345,847

Cash invested: $1,120,000 (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 48228

• Rents YoY: -2.3%
• Active inventory: 363
• Price-to-rent: 263.5×

Monthly cashflow live

• Estimated rent: $71,364 high
• Mortgage (P&I): −$20,976
• Tax est. 1.5%: −$5,000 /mo · $60,000/yr
• Insurance: −$1,667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$14,986
• Net cashflow: $28,734

Break-even live

Break-even rent $34,991

Max offer price $4,000,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 36× units	2	2	$45,540
▸ 24× units	1	1	$25,824
Total (60 units)			$71,364

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: $1,000,000
• Closing costs: $120,000
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-18
   days on market $4,000,000 Active 229 DOM
2. 2026-06-17
   days on market $4,000,000 Active 228 DOM
3. 2026-06-15
   days on market $4,000,000 Active 226 DOM
4. 2026-06-13
   days on market $4,000,000 Active 224 DOM
5. 2026-06-13
   days on market $4,000,000 Active 223 DOM
6. 2026-06-09
   days on market $4,000,000 Active 220 DOM
7. 2026-06-08
   days on market $4,000,000 Active 219 DOM
8. 2026-06-07
   days on market $4,000,000 Active 218 DOM
9. 2026-06-04
   days on market $4,000,000 Active 215 DOM
10. 2026-06-03
    days on market $4,000,000 Active 214 DOM
11. 2026-06-01
    days on market $4,000,000 Active 212 DOM
12. 2026-05-31
    days on market $4,000,000 Active 211 DOM
13. 2026-04-19
    price $4,000,000 1079-char remark

    Show marketing remark (1079 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

14. 2026-04-18
    price $4,000,000 1085-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

15. 2026-03-12
    price $4,400,000 1079-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

16. 2026-03-12
    price $4,400,000 1085-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

17. 2026-01-29
    price $4,450,000

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

18. 2026-01-29
    price $4,450,000 1079-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

19. 2026-01-29
    price $4,450,000 1085-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

20. 2025-11-17
    price $4,500,000

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

21. 2025-11-17
    price $4,500,000 1079-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

22. 2025-11-17
    price $4,500,000 1085-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

23. 2025-11-10
    price $4,750,000 1079-char remark

    Show marketing remark (1079 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

24. 2025-11-09
    price $4,750,000 1085-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

25. 2025-11-02
    listed $4,800,000 Active 1085-char remark

    Show marketing remark (1085 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

26. 2025-11-01
    listed $4,800,000 Active 1079-char remark

    Show marketing remark (1079 chars)

    REDUCED! 100% OCCUPANCY! WELCOME TO GREENFIELD VILLAS! LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT IS TO BE RENTED TO SECTION 8 TENANTS. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

27. 2021-12-23
    historical
28. 2021-12-23
    historical
29. 2021-12-22
    historical
30. 2021-10-15
    price $3,300,000
31. 2021-10-15
    price $3,300,000
32. 2021-10-05
    price $3,299,000
33. 2021-10-04
    price $3,299,000
34. 2021-09-23
    price $3,399,000
35. 2021-09-23
    price $3,399,000
36. 2021-09-12
    price $3,499,000
37. 2021-09-11
    price $3,499,000
38. 2021-08-31
    price $3,600,000
39. 2021-08-31
    price $3,600,000
40. 2021-07-22
    listed $3,500,000 Active
41. 2021-07-22
    listed $3,500,000 Active
42. 2021-07-22
    listed $3,300,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 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: $856,368
• − Mortgage interest: −$224,062
• − Property taxes: −$60,000
• − Insurance: −$20,000
• − Repairs & maintenance: −$68,509
• − Management: −$68,509
• − Depreciation: −$116,364
• Taxable income: $298,923
• Est. tax owed @ 24.0%: −$71,742
• After-tax cash flow: $273,072/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 · 13 photos

Good 85/100 Cosmetic rehab

This multi-family property is in good condition with recent updates, including a new roof, windows, and HVAC system. While it is move-in ready, there are several areas that could be improved to further enhance its value, such as painting the exterior and interior, replacing the kitchen and bathroom fixtures, and updating the flooring.

Repairs flagged

• Minor Kitchen cabinets — No visible damage.
• Minor Bathroom fixtures — No visible damage.
• Minor Flooring — No visible damage or updates.
• Minor Interior walls/paint — No visible damage or updates.
• Minor Exterior siding — No visible damage or updates.
• Minor Windows — No visible damage or updates.
• Minor Foundation/structure — No visible damage or updates.
• Minor HVAC/mechanicals — No visible damage or updates.
• Minor Landscaping — No visible damage or updates.

Value-add opportunities

• Resale Paint exterior walls — Enhances curb appeal and value.
• Resale Replace kitchen cabinets — Modernizes the kitchen and adds value.
• Resale Replace bathroom fixtures — Modernizes the bathrooms and adds value.
• Resale Replace flooring — Modernizes the living spaces and adds value.
• Resale Paint interior walls/paint — Modernizes the interior and adds value.
• Resale Replace exterior siding — Modernizes the exterior and adds value.
• Resale Replace windows — Enhances natural light and adds value.
• Resale Replace HVAC/mechanicals — Ensures energy efficiency and adds value.
• Rental Maintain landscaping — Keeps the property looking well-maintained and attractive to tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · No visible damage.	Minor	$500–3,000
Bathroom fixtures · No visible damage.	Minor	$500–3,000
Flooring · No visible damage or updates.	Minor	$500–3,000
Interior walls/paint · No visible damage or updates.	Minor	$500–3,000
Exterior siding · No visible damage or updates.	Minor	$500–3,000
Windows · No visible damage or updates.	Minor	$500–3,000
Foundation/structure · No visible damage or updates.	Minor	$500–3,000
HVAC/mechanicals · No visible damage or updates.	Minor	$500–3,000
Landscaping · No visible damage or updates.	Minor	$500–3,000
Total estimated repair cost · 9 items		$4,500–27,000

Value-add ROI direction

• Resale Paint exterior walls — Enhances curb appeal and value. ↑
• Resale Replace kitchen cabinets — Modernizes the kitchen and adds value. ↑
• Resale Replace bathroom fixtures — Modernizes the bathrooms and adds value. ↑
• Resale Replace flooring — Modernizes the living spaces and adds value. ↑
• Resale Paint interior walls/paint — Modernizes the interior and adds value. ↑
• Resale Replace exterior siding — Modernizes the exterior and adds value. ↑
• Resale Replace windows — Enhances natural light and adds value. ↑
• Resale Replace HVAC/mechanicals — Ensures energy efficiency and adds value. ↑
• Rental Maintain landscaping — Keeps the property looking well-maintained and attractive to tenants. ↑

ⓘ 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): 50,117
• Household income: $30,680
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 4144.0

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 (71%)
• Race & ethnicity: Black 71% White 16% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Arab 2% Romanian 2% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Arabic 11% Spanish 5%

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: ▼ -160.81%
• Current HPI: 168.6843
• Rent YoY: ▼ -2.30%
• 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

30 events — show timeline

• 2026-04-19 Price Changed $4,000,000 MiRealSource-MiMLS
• 2026-04-18 Price Changed $4,000,000 REALCOMP
• 2026-03-12 Price Changed $4,400,000 MiRealSource-MiMLS
• 2026-03-12 Price Changed $4,400,000 REALCOMP
• 2026-01-29 Price Changed $4,450,000 MiRealSource-MiMLS
• 2026-01-29 Price Changed $4,450,000 MiRealSource-MiMLS
• 2026-01-29 Price Changed $4,450,000 REALCOMP
• 2025-11-17 Price Changed $4,500,000 MiRealSource-MiMLS
• 2025-11-17 Price Changed $4,500,000 MiRealSource-MiMLS
• 2025-11-17 Price Changed $4,500,000 REALCOMP
• 2025-11-10 Price Changed $4,750,000 MiRealSource-MiMLS
• 2025-11-09 Price Changed $4,750,000 REALCOMP
• 2025-11-02 Listed $4,800,000 REALCOMP
• 2025-11-01 Listed $4,800,000 MiRealSource-MiMLS
• 2021-12-23 Listing Removed — MiRealSource-MiMLS
• 2021-12-23 Listing Removed — REALCOMP
• 2021-12-22 Listing Removed — MiRealSource-MiMLS
• 2021-10-15 Price Changed $3,300,000 MiRealSource-MiMLS
• 2021-10-15 Price Changed $3,300,000 REALCOMP
• 2021-10-05 Price Changed $3,299,000 MiRealSource-MiMLS
• 2021-10-04 Price Changed $3,299,000 REALCOMP
• 2021-09-23 Price Changed $3,399,000 MiRealSource-MiMLS
• 2021-09-23 Price Changed $3,399,000 REALCOMP
• 2021-09-12 Price Changed $3,499,000 MiRealSource-MiMLS
• 2021-09-11 Price Changed $3,499,000 REALCOMP
• 2021-08-31 Price Changed $3,600,000 MiRealSource-MiMLS
• 2021-08-31 Price Changed $3,600,000 REALCOMP
• 2021-07-22 Listed $3,300,000 MiRealSource-MiMLS
• 2021-07-22 Listed $3,500,000 MiRealSource-MiMLS
• 2021-07-22 Listed $3,500,000 REALCOMP