5200 Chalmers St · Detroit, MI 48213

$150,000

6 bd · 1.5 ba · 1,904 sqft · MultiFamily public records · 3 Days on market

Built 1951 6,098 sqft lot Est $145k · at est.

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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 +5.9/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

Brick duplexes, corner lot, 2 car garage, bank owned.

Key facts

• Kitchen
• Two units
• Living area

Tags

• MULTI-FAMILY PROPERTY
• BRICK-RANCH STYLE DUPLEX
• TWO UNITS
• FULL BATH
• KITCHEN
• LIVING AREA

Property features AI

Finance

• Financial info: Net operating income reported as $0

Exterior

• Utilities: Public water; Natural gas; Forced air heating system
• Home design: Multi-family property; Ranch style; 1 story; Built in 1951; Frontage approximately 40 feet
• Construction: Basement foundation
• Exterior features: Brick exterior; Paved street frontage

Interior

• Bedrooms: 2 units (multi-family)
• Bathrooms: 2 full bathrooms, 1 half bathroom (3 total lavatories)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Block basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $994 ($12k/yr) — positive. Per door: $497/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Cap rate 14.2% 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: 190 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $2,630/mo this rent would consume 93% of the median local household income ($34k/yr) (locally 1202% 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 $1k of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y ago; this cycle's ask is 2900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $3k; list at $150k implies a 5456% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $150,000

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 1951 — 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. 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 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: 1.75% ✓
• Cap rate: 14.24%
• Cash-on-cash: 28.39%
• DSCR: 2.26
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $144,704
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5745 Marlborough St	0.29mi	5/2.5 (-1)	1,720 (-10%)	13mo	$130,000	$76	50
5553 Nottingham Rd	0.56mi	5/2.0 (-1)	1,784 (-6%)	11mo	$140,000	$78	48
13139 Evanston St	0.74mi	5/2.0 (-1)	1,759 (-8%)	13mo	$24,000	$14	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.93×
• Total profit: $39,044
• Equity at exit: $22,365

10-year hold

• IRR: 30.7%
• Equity multiple: 3.76×
• Total profit: $115,764
• Equity at exit: $12,969

Cash invested: $42,000 (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 48213

• Active inventory: 190
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$787
• Tax from tax record: −$235 /mo · $2,820/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $994

Break-even live

Break-even rent $1,372

Max offer price $150,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,078	-5% $1,036	+0% $994	+5% $951	+10% $909
Rent	-10% $786	-5% $890	+0% $994	+5% $1,097	+10% $1,201
Rate	-1.0pp $1,069	-0.5pp $1,032	base $994	+0.5pp $955	+1.0pp $915

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$2,630
Total (2 units)			$2,630

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13395 Maiden St Detroit, MI	5.0	2.0	1750	$1,600	$0.91	25d	1	0.91mi
4667 Beniteau St Detroit, MI	5.0	2.0	1396	$1,700	$1.22	44d	1	1.48mi

Listing history 7 events

1. 2026-06-18
   days on market $150,000 Active 3 DOM
2. 2026-06-17
   days on market $150,000 Active 2 DOM
3. 2026-06-16
   statusdays on marketlisting id $150,000 Active 1 DOM
4. 2026-06-15
   days on market $150,000 Coming Soon 4 DOM
5. 2026-06-13
   days on market $150,000 Coming Soon 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $150,000 Coming Soon 1 DOM

ⓘ 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: $2,820 · $235/mo
• Projected year-2 tax: $2,820 · $235/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $31,560
• − Mortgage interest: −$8,402
• − Property taxes: −$2,820
• − Insurance: −$750
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − Depreciation: −$4,364
• Taxable income: $10,174
• Est. tax owed @ 24.0%: −$2,442
• After-tax cash flow: $9,481/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): 20,075
• Household income: $34,003
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1202.0

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 (92%)
• Race & ethnicity: Black 92% White 4% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 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: ▼ -122.86%
• Current HPI: 217.2037
• 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

+419.0% since first listed

10 events — show timeline

• 2026-06-11 Coming Soon $150,000 MiRealSource-MiMLS
• 2008-12-15 Sold (MLS) $2,700 MiRealSource-MiMLS
• 2008-12-14 Listing Removed — MiRealSource-MiMLS
• 2008-09-24 Listed $5,000 MiRealSource-MiMLS
• 2006-05-23 Sold (Public Records) $70,000 Public Records
• 2005-03-14 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2005-02-28 Listing Removed — MiRealSource-MiMLS
• 2005-02-11 Listed $24,900 MiRealSource-MiMLS
• 2005-01-30 Listing Removed — REALCOMP
• 2004-10-13 Listed $28,900 REALCOMP

Property tax history

+6.6%/yr

Latest (2025): $2,820 · +0.8% YoY. Source: county tax records.