1976 LA Belle St · Detroit, MI 48238

$115,000

6 bd · 2.0 ba · 2,400 sqft · Townhouse public records · 36 Days on market

Built 1927 3,485 sqft lot $48/sqft · 44% above area Est $80k · 44% over

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Why this score? — see what drove the C+ 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
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Investment property with great potential for producing more rental income. Duplex located across the street from an elementary school, close to shopping and interstate highway.

Key facts

• Interstate highway
• Investment property
• Close to shopping

Tags

• INVESTMENT PROPERTY
• DUPLEX
• CLOSE TO SHOPPING
• INTERSTATE HIGHWAY

Property features AI

Finance

• Other: Lot approximately 0.08 acres (35 x 100); Zoned for multi-family
• Financial info: Annual tax amount reported

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property; Two stories
• Construction: Brick construction
• Exterior features: Paved road access; Pets policy: contact for details

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% 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: Rents rising fast (+6.1%/yr); 346 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,910/mo this rent would consume 69% of the median local household income ($33k/yr) (locally 2172% 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 $795 of loan paydown is wiped out by about $3k 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 + 6.1% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 11 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.
• Current owner paid $80k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.66% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.47%
• DSCR: 1.87
• GRM: 5.0

CMA / ARV

• ARV (median comp): $79,970
• List price: $115,000
• Delta: 43.80%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.65×
• Total profit: $21,012
• Equity at exit: $17,147

10-year hold

• IRR: 26.7%
• Equity multiple: 3.76×
• Total profit: $88,981
• Equity at exit: $9,943

Cash invested: $32,200 (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 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 346
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,910 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$335 /mo · $4,022/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $522

Break-even live

Break-even rent $1,248

Max offer price $115,000

Occupancy floor 68%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	10d	1	1.21mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	1d	1	1.32mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	14d	1	1.32mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	21d	1	1.44mi

Listing history 39 events

1. 2026-06-18
   days on market $115,000 Active 36 DOM
2. 2026-06-17
   days on market $115,000 Active 35 DOM
3. 2026-06-15
   days on market $115,000 Active 33 DOM
4. 2026-06-13
   days on market $115,000 Active 31 DOM
5. 2026-06-13
   days on market $115,000 Active 30 DOM
6. 2026-06-09
   days on market $115,000 Active 27 DOM
7. 2026-06-08
   days on market $115,000 Active 26 DOM
8. 2026-06-07
   days on market $115,000 Active 25 DOM
9. 2026-06-04
   days on market $115,000 Active 22 DOM
10. 2026-06-03
    days on market $115,000 Active 21 DOM
11. 2026-06-02
    days on market $115,000 Active 20 DOM
12. 2026-06-01
    days on market $115,000 Active 19 DOM
13. 2026-05-31
    days on market $115,000 Active 18 DOM
14. 2026-05-13
    listed $115,000 Active 186-char remark

    Show marketing remark (186 chars)

    Excellent Investment property with great potential for producing more rental income. Duplex located across the street from an elementary school, close to shopping and interstate highway.

15. 2026-05-13
    listed $115,000 Active 186-char remark

    Show marketing remark (186 chars)

    Excellent Investment property with great potential for producing more rental income. Duplex located across the street from an elementary school, close to shopping and interstate highway.

16. 2026-04-15
    price $129,900
17. 2026-04-14
    historical
18. 2026-04-14
    price $129,900
19. 2026-04-14
    status Active
20. 2026-03-03
    historical Accepting Backup Offers
21. 2026-03-03
    historical Active Under Contract
22. 2026-02-19
    status Active
23. 2026-02-19
    status Active
24. 2026-02-10
    status Pending
25. 2026-02-09
    status Pending
26. 2026-02-09
    historical
27. 2025-08-26
    price $139,900
28. 2025-08-26
    listed $139,900 Active
29. 2025-08-26
    listed $139,000 Active
30. 2025-08-25
    historical
31. 2025-06-02
    status Active
32. 2025-06-02
    status Active
33. 2025-05-27
    status Pending
34. 2025-05-27
    status Pending
35. 2025-05-27
    historical
36. 2025-05-03
    listed $149,900 Active
37. 2025-05-03
    listed $149,900 Active
38. 2007-03-26
    soldstatus $80,000
39. 2001-06-08
    soldstatus $44,191

ⓘ 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: $4,022 · $335/mo
• Projected year-2 tax: $4,022 · $335/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 6/10 Major FEMA zone X (unshaded) · 68% 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: $22,916
• − Mortgage interest: −$6,442
• − Property taxes: −$4,022
• − Insurance: −$575
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$3,345
• Taxable income: $4,865
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $5,102/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): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

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 (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 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: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• 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

+160.2% since first listed

26 events — show timeline

• 2026-05-13 Listed $115,000 REALCOMP
• 2026-05-13 Listed $115,000 MiRealSource-MiMLS
• 2026-04-15 Price Changed $129,900 MiRealSource-MiMLS
• 2026-04-14 Listing Removed — MiRealSource-MiMLS
• 2026-04-14 Price Changed $129,900 REALCOMP
• 2026-04-14 Relisted — REALCOMP
• 2026-03-03 Contingent — MiRealSource-MiMLS
• 2026-03-03 Contingent — REALCOMP
• 2026-02-19 Relisted — MiRealSource-MiMLS
• 2026-02-19 Relisted — REALCOMP
• 2026-02-10 Pending — MiRealSource-MiMLS
• 2026-02-09 Pending — REALCOMP
• 2026-02-09 Listing Removed — REALCOMP
• 2025-08-26 Price Changed $139,900 REALCOMP
• 2025-08-26 Listed $139,000 REALCOMP
• 2025-08-26 Listed $139,900 MiRealSource-MiMLS
• 2025-08-25 Listing Removed — MiRealSource-MiMLS
• 2025-06-02 Relisted — MiRealSource-MiMLS
• 2025-06-02 Relisted — REALCOMP
• 2025-05-27 Pending — MiRealSource-MiMLS
• 2025-05-27 Pending — REALCOMP
• 2025-05-27 Listing Removed — REALCOMP
• 2025-05-03 Listed $149,900 REALCOMP
• 2025-05-03 Listed $149,900 MiRealSource-MiMLS
• 2007-03-26 Sold (Public Records) $80,000 Public Records
• 2001-06-08 Sold (Public Records) $44,191 Public Records

Property tax history

+11.5%/yr

Latest (2025): $4,022 · +7.9% YoY. Source: county tax records.